Brookfield Corp ON Takes $28.10 Million Position in Rockwell Automation, Inc. (NYSE:ROK)

Posted by Defense World Staff on Sep 12th, 2023

Brookfield Corp ON bought a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 95,762 shares of the industrial products company’s stock, valued at approximately $28,101,000. Brookfield Corp ON owned approximately 0.08% of Rockwell Automation at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. New Hampshire Trust purchased a new position in Rockwell Automation during the 4th quarter valued at about $26,000. Neo Ivy Capital Management purchased a new position in Rockwell Automation during the 2nd quarter valued at about $29,000. Clear Street Markets LLC purchased a new position in Rockwell Automation during the 4th quarter valued at about $30,000. Delta Asset Management LLC TN purchased a new position in Rockwell Automation during the 4th quarter valued at about $32,000. Finally, First Manhattan Co. lifted its position in Rockwell Automation by 150.0% during the 4th quarter. First Manhattan Co. now owns 125 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 75 shares during the period. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ROK. Morgan Stanley lifted their price target on shares of Rockwell Automation from $340.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. Wolfe Research raised shares of Rockwell Automation from an “underperform” rating to a “peer perform” rating in a report on Tuesday, July 11th. Jefferies Financial Group assumed coverage on shares of Rockwell Automation in a report on Tuesday, June 27th. They issued a “hold” rating and a $335.00 target price for the company. Citigroup lifted their target price on shares of Rockwell Automation from $334.00 to $375.00 in a report on Monday, July 10th. Finally, StockNews.com assumed coverage on shares of Rockwell Automation in a report on Thursday, August 17th. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Rockwell Automation has a consensus rating of “Hold” and an average target price of $289.00.

Read Our Latest Analysis on Rockwell Automation

Insiders Place Their Bets

In other Rockwell Automation news, VP Scott Genereux sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $297.62, for a total value of $148,810.00. Following the completion of the transaction, the vice president now directly owns 2,876 shares in the company, valued at $855,955.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Scott Genereux sold 500 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $297.62, for a total value of $148,810.00. Following the transaction, the vice president now owns 2,876 shares of the company’s stock, valued at $855,955.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Tessa M. Myers sold 677 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $301.18, for a total transaction of $203,898.86. Following the completion of the transaction, the senior vice president now directly owns 2,880 shares in the company, valued at approximately $867,398.40. The disclosure for this sale can be found here. Insiders sold a total of 1,327 shares of company stock worth $401,459 over the last three months. 0.64% of the stock is currently owned by company insiders.

Rockwell Automation Stock Performance

Shares of NYSE ROK opened at $293.89 on Tuesday. The firm has a 50 day moving average of $316.13 and a 200 day moving average of $298.65. The company has a current ratio of 1.12, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $33.76 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 2.06 and a beta of 1.45. Rockwell Automation, Inc. has a 12-month low of $209.27 and a 12-month high of $348.52.

Rockwell Automation (NYSE:ROK – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $3.01 earnings per share for the quarter, missing analysts’ consensus estimates of $3.19 by ($0.18). The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.33 billion. Rockwell Automation had a return on equity of 40.33% and a net margin of 16.51%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.66 earnings per share. On average, research analysts anticipate that Rockwell Automation, Inc. will post 11.94 earnings per share for the current year.

About Rockwell Automation

(Free Report)

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.