Rockwell Automation, Inc. $ROK Shares Acquired by SouthState Bank Corp

SouthState Bank Corp lifted its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,898 shares of the industrial products company’s stock after acquiring an additional 1,728 shares during the period. SouthState Bank Corp’s holdings in Rockwell Automation were worth $18,140,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ROK. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Rockwell Automation by 468.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 91 shares of the industrial products company’s stock valued at $32,000 after buying an additional 75 shares during the period. Rexford Capital Inc. purchased a new position in Rockwell Automation in the second quarter worth approximately $33,000. SBI Securities Co. Ltd. increased its stake in Rockwell Automation by 48.7% during the second quarter. SBI Securities Co. Ltd. now owns 116 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 38 shares during the last quarter. Financial Gravity Companies Inc. purchased a new stake in Rockwell Automation in the second quarter valued at $40,000. Finally, Sachetta LLC raised its position in Rockwell Automation by 900.0% in the third quarter. Sachetta LLC now owns 120 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 108 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Insider Transactions at Rockwell Automation

In other news, SVP Tessa M. Myers sold 1,020 shares of Rockwell Automation stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $402.07, for a total value of $410,111.40. Following the completion of the transaction, the senior vice president owned 6,021 shares in the company, valued at approximately $2,420,863.47. This trade represents a 14.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Scott Genereux sold 1,387 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $402.03, for a total value of $557,615.61. Following the transaction, the vice president directly owned 4,514 shares of the company’s stock, valued at approximately $1,814,763.42. This represents a 23.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 25,531 shares of company stock valued at $10,259,637 in the last 90 days. Insiders own 0.76% of the company’s stock.

Rockwell Automation Price Performance

Shares of ROK opened at $430.35 on Thursday. The company has a market cap of $48.32 billion, a P/E ratio of 56.18, a PEG ratio of 3.02 and a beta of 1.52. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $438.72. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average price is $406.96 and its 200 day moving average price is $371.99.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Thursday, November 6th. The industrial products company reported $3.34 EPS for the quarter, topping the consensus estimate of $2.94 by $0.40. Rockwell Automation had a net margin of 10.42% and a return on equity of 32.69%. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the firm posted $2.47 earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, research analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ROK shares. Bank of America raised their price objective on Rockwell Automation from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Jefferies Financial Group lifted their price target on shares of Rockwell Automation from $450.00 to $470.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Evercore ISI started coverage on shares of Rockwell Automation in a research note on Monday, December 15th. They issued an “in-line” rating and a $440.00 price target on the stock. Wells Fargo & Company increased their price objective on shares of Rockwell Automation from $380.00 to $410.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Finally, TD Cowen boosted their target price on Rockwell Automation from $275.00 to $330.00 and gave the company a “hold” rating in a research report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $410.12.

Rockwell Automation Profile

Rockwell Automation is a global industrial automation and digital transformation company headquartered in Milwaukee, Wisconsin. The firm designs, manufactures and supports control systems, industrial control hardware and software, and related services that help manufacturers and industrial operators automate processes, improve productivity and enable data-driven decision making. Rockwell traces its heritage to the Allen-Bradley and Rockwell automation businesses and positions itself as a provider of integrated automation solutions across discrete and process industries.

The company’s product portfolio includes programmable logic controllers (PLCs), human-machine interfaces (HMIs), variable frequency drives, sensors, safety components and other industrial control hardware, often marketed under the Allen-Bradley brand.