Prime Capital Investment Advisors LLC Cuts Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

Prime Capital Investment Advisors LLC cut its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 20.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,787 shares of the industrial products company’s stock after selling 7,117 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Rockwell Automation were worth $7,649,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its stake in shares of Rockwell Automation by 3.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,115 shares of the industrial products company’s stock worth $346,000 after acquiring an additional 37 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position in shares of Rockwell Automation by 17.5% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 248 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 37 shares in the last quarter. CreativeOne Wealth LLC boosted its stake in shares of Rockwell Automation by 3.0% during the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock valued at $372,000 after buying an additional 37 shares during the last quarter. Mather Group LLC. grew its position in shares of Rockwell Automation by 5.9% during the second quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock worth $198,000 after buying an additional 38 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in shares of Rockwell Automation by 5.9% in the first quarter. Lindbrook Capital LLC now owns 749 shares of the industrial products company’s stock worth $218,000 after buying an additional 42 shares during the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Automation Stock Performance

ROK stock opened at $262.92 on Monday. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The stock has a market capitalization of $29.97 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 4.57 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04. The stock’s fifty day moving average is $265.85 and its two-hundred day moving average is $270.74.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.63. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm posted $3.01 EPS. Rockwell Automation’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, research analysts predict that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

Rockwell Automation declared that its Board of Directors has initiated a share repurchase program on Thursday, September 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

ROK has been the topic of a number of research analyst reports. Bank of America reduced their price objective on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Robert W. Baird reduced their price target on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley started coverage on Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price objective for the company. Oppenheimer cut their price objective on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Redburn Atlantic began coverage on Rockwell Automation in a research report on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price for the company. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Rockwell Automation presently has a consensus rating of “Hold” and a consensus target price of $282.80.

Rockwell Automation Profile

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.