The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Rockwell Automation Inc. shares valued at $581,142 were sold by Gangestad Nicholas C on Mar 02. At $294.25 per share, Gangestad Nicholas C sold 1,975 shares. The insider’s holdings dropped to 7,757 shares worth approximately $2.19 million following the completion of this transaction.
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Also, Woods Isaac sold 100 shares, netting a total of over 29,433 in proceeds. Following the sale of shares at $294.33 each, the insider now holds 452 shares.
Before that, House Rebecca W had sold 3,178 shares from its account. In a trade valued at $914,644, the SVP, CLO and Secretary traded Rockwell Automation Inc. shares for $287.80 each. Upon closing the transaction, the insider’s holdings decreased to 3,178 shares, worth approximately $1.97 million.
As published in a research note from BofA Securities on December 12, 2022, Rockwell Automation Inc. [ROK] has been rated down from a Buy to a Neutral. Analysts at Bernstein downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid August. As of January 11, 2022, Bernstein has initiated its “an Outperform” rating for ROK. Earlier on December 17, 2021, Mizuho initiated its rating. Their recommendation was “a Neutral” for ROK stock.
Analyzing ROK Stock Performance
On Thursday, Rockwell Automation Inc. [NYSE: ROK] rose 1.94% to $282.02. The stock’s lowest price that day was $272.75, but it reached a high of $283.04 in the same session. During the last five days, there has been a drop of approximately -5.65%. Over the course of the year, Rockwell Automation Inc. shares have jumped approximately 9.49%. Shares of the company reached a 52-week high of $309.36 on 03/09/23 and a 52-week low of $255.49 on 01/05/23. A 50-day SMA is recorded $285.60, while a 200-day SMA reached $248.98. Nevertheless, trading volume fell to 0.98 million shares from 1.13 million shares the previous day.
Support And Resistance Levels for Rockwell Automation Inc. (ROK)
According to the 24-hour chart, there is a support level at 275.50, which, if violated, would cause prices to drop to 268.98. In the upper region, resistance lies at 285.79. The next price resistance is at 289.56. RSI (Relative Strength Index) is 44.08 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -9.62, which suggests the price will decrease in the coming days. Percent R is at 72.10%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Rockwell Automation Inc. subject to short interest?
Stocks of Rockwell Automation Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 0.44 million shares to 2.47 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 2.03 million shares. A jump of 17.81% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.12 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.12.
Which companies own the most shares of Rockwell Automation Inc. (ROK)?
According to The Vanguard Group, Inc. filings, the company currently owns 13,118,391 shares, which is about 11.43% of the total ROK shares outstanding. The investor’s shares have appreciated by 96,748 from its previous 13-F filing of 13021643.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $1,689,365,528. Capital Research & Management Co acquire a 9.97% interest valued at $1.5 billion while SSgA Funds Management, Inc. sold a -53,293 stake. A total of 35,100 shares of Rockwell Automation Inc. were sold by Alecta Pension Insurance Mutual during the quarter, and 28,866 were bought by Geode Capital Management LLC. In its current portfolio, Morgan Stanley Smith Barney LLC holds 1,716,511 shares valued at $506.25 million.
In terms of Rockwell Automation Inc. share price expectations, FactSet research, analysts set an average price target of $280.39 in the next 12 months, up nearly 3.01% from the previous closing price of $276.66. Analysts anticipate Rockwell Automation Inc. stock to reach $336.00 by 2023, with the lowest price target being $200.00. In spite of this, 26 analysts ranked Rockwell Automation Inc. stock as a Hold at the end of 2023. On November 17, 2021, Loop Capital assigned a price target of “a Hold” to the stock and initiated coverage with a $315.