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 $477,556 were sold by Gangestad Nicholas C on Mar 06 ’24. At $287.68 per share, Gangestad Nicholas C sold 1,660 shares. The insider’s holdings dropped to 10,557 shares worth approximately $2.98 million following the completion of this transaction.
Also, Gangestad Nicholas C sold 1,989 shares, netting a total of over 573,169 in proceeds. Following the sale of shares at $288.17 each, the insider now holds 12,217 shares.
Before that, Buttermore Robert L. had sold 1,664 shares from its account. In a trade valued at $482,560, the SVP,Chief Supply Chain Officer traded Rockwell Automation Inc shares for $290.00 each. Upon closing the transaction, the insider’s holdings decreased to 1,664 shares, worth approximately $0.18 million.
As published in a research note from Berenberg on March 06, 2024, Rockwell Automation Inc [ROK] has been rated down from a Buy to a Hold and the price target has been revised to $290 from $330. Analysts at Daiwa Securities upgraded the stock from ‘”an Outperform”‘ to ‘”a Buy”‘ outlook in a report released in early February. As of February 01, 2024, Oppenheimer has reiterated its “an Outperform” rating for ROK. Earlier on January 03, 2024, UBS upgraded its rating. Their new recommendation was “a Buy” for ROK stock which previously was a “a Neutral”.
Analyzing ROK Stock Performance
During the last five days, there has been a surge of approximately 0.78%. Over the course of the year, Rockwell Automation Inc shares have dropped approximately -9.15%. Shares of the company reached a 52-week high of $310.00 on 01/02/24 and a 52-week low of $252.11 on 01/31/24. A 50-day SMA is recorded $281.17, while a 200-day SMA reached $292.87. Nevertheless, trading volume fell to 0.81 million shares from 0.87 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 278.51, which, if violated, would cause prices to drop to 274.96. In the upper region, resistance lies at 284.05. The next price resistance is at 286.03. RSI (Relative Strength Index) is 48.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.35, which suggests the price will decrease in the coming days. Percent R is at 60.45%, indicating low 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 Mar 28, 2024 jumping by 0.82 million shares to 2.83 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 2.01 million shares. A jump of 28.98% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.88 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.88.
