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Checking in on Rockwell Automation Inc (ROK) after recent insiders movement

Rockwell Automation Inc’s recently made public that its Sr. VP and CFO Gangestad Nicholas C unloaded Company’s shares for reported $0.48 million on Mar 06 ’24. In the deal valued at $287.68 per share,1,660 shares were sold. As a result of this transaction, Gangestad Nicholas C now holds 10,557 shares worth roughly $2.89 million.

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Then, Gangestad Nicholas C sold 1,989 shares, generating $573,169 in total proceeds. Upon selling the shares at $288.17, the Sr. VP and CFO now owns 12,217 shares.

Before that, Buttermore Robert L. sold 1,664 shares. Rockwell Automation Inc shares valued at $482,560 were divested by the SVP,Chief Supply Chain Officer at a price of $290.00 per share. As a result of the transaction, Buttermore Robert L. now holds 647 shares, worth roughly $0.18 million.

Berenberg downgraded its Rockwell Automation Inc [ROK] rating to a Hold from a a Buy in a research note published on March 06, 2024; the price target was decreased to $290 from $330. A number of analysts have revised their coverage, including Daiwa Securities’s analysts, who increased its forecast for the stock in early February from “an Outperform” to “a Buy”. Oppenheimer also remained covering ROK and reiterated its “an Outperform” recommendation on February 01, 2024. UBS revised its rating on January 03, 2024. It rated ROK as “a Buy” which previously was an “a Neutral”.

Price Performance Review of ROK

On Friday, Rockwell Automation Inc [NYSE:ROK] saw its stock jump 1.14% to $273.59. Over the last five days, the stock has lost -0.17%. Rockwell Automation Inc shares have fallen nearly -11.88% since the year began. Nevertheless, the stocks have risen 1.30% over the past one year. While a 52-week high of $348.52 was reached on 01/02/24, a 52-week low of $252.11 was recorded on 01/31/24. SMA at 50 days reached $281.00, while 200 days put it at $286.54. A total of 1.15 million shares were traded, compared to the trading of 1.52 million shares in the previous session.

Levels Of Support And Resistance For ROK Stock

The 24-hour chart illustrates a support level at 270.59, which if violated will result in even more drops to 267.60. On the upside, there is a resistance level at 275.32. A further resistance level may holdings at 277.06. The Relative Strength Index (RSI) on the 14-day chart is 46.47, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.79, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 47.06%. Stochastics %K at 47.53% indicates the stock is a holding.

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