Fort Pitt Capital Group LLC Reduces Stake in Rockwell Automation, Inc. (ROK)

Fort Pitt Capital Group LLC trimmed its position in Rockwell Automation, Inc. (NYSE:ROK) by 0.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 180,937 shares of the industrial products company’s stock after selling 800 shares during the period. Rockwell Automation accounts for approximately 2.8% of Fort Pitt Capital Group LLC’s investment portfolio, making the stock its 17th biggest position. Fort Pitt Capital Group LLC owned 0.14% of Rockwell Automation worth $32,245,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its position in Rockwell Automation by 7.5% during the 2nd quarter. BlackRock Inc. now owns 9,698,308 shares of the industrial products company’s stock worth $1,570,735,000 after purchasing an additional 679,645 shares during the last quarter. Vanguard Group Inc. raised its position in Rockwell Automation by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 8,769,308 shares of the industrial products company’s stock worth $1,420,278,000 after purchasing an additional 268,101 shares during the last quarter. Lazard Asset Management LLC raised its position in Rockwell Automation by 0.5% during the 2nd quarter. Lazard Asset Management LLC now owns 2,308,357 shares of the industrial products company’s stock worth $373,861,000 after purchasing an additional 11,384 shares during the last quarter. JPMorgan Chase & Co. raised its position in Rockwell Automation by 5.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,459,185 shares of the industrial products company’s stock worth $236,330,000 after purchasing an additional 81,416 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Rockwell Automation by 7.7% during the 2nd quarter. Wells Fargo & Company MN now owns 1,337,872 shares of the industrial products company’s stock worth $216,681,000 after purchasing an additional 95,408 shares during the last quarter. Institutional investors own 73.61% of the company’s stock.

Several research analysts recently issued reports on ROK shares. Zacks Investment Research lowered Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Cowen and Company reaffirmed a “hold” rating and set a $140.00 target price on shares of Rockwell Automation in a research report on Sunday, September 17th. ValuEngine raised Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Credit Suisse Group reaffirmed a “neutral” rating and set a $174.00 target price (up from $154.00) on shares of Rockwell Automation in a research report on Wednesday, October 11th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $167.00 target price on shares of Rockwell Automation in a research report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $164.07.

In other news, SVP Sujeet Chand sold 9,500 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $165.13, for a total transaction of $1,568,735.00. Following the sale, the senior vice president now owns 41,273 shares in the company, valued at $6,815,410.49. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Blake D. Moret sold 1,723 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $170.06, for a total transaction of $293,013.38. Following the sale, the insider now owns 22,849 shares in the company, valued at approximately $3,885,700.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,825 shares of company stock worth $9,267,484. Corporate insiders own 1.65% of the company’s stock.

Rockwell Automation, Inc. (NYSE ROK) traded down 0.40% during trading on Monday, hitting $188.03. 47,649 shares of the company’s stock traded hands. The company’s 50 day moving average is $180.32 and its 200-day moving average is $165.64. Rockwell Automation, Inc. has a 12 month low of $117.24 and a 12 month high of $189.91. The stock has a market cap of $24.14 billion, a P/E ratio of 30.32 and a beta of 1.19.

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Rockwell Automation Company Profile

Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.

Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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