Kooman & Associates Purchases Shares of 1,005 Rockwell Automation, Inc. (NYSE:ROK)

Kooman & Associates purchased a new stake in Rockwell Automation, Inc. (NYSE:ROK) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,005 shares of the industrial products company’s stock, valued at approximately $277,000.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Rockwell Automation by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company’s stock valued at $4,092,891,000 after purchasing an additional 438,356 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Rockwell Automation by 951.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock worth $1,611,915,000 after acquiring an additional 5,006,706 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Rockwell Automation by 32.0% in the first quarter. Lazard Asset Management LLC now owns 1,510,019 shares of the industrial products company’s stock worth $439,912,000 after acquiring an additional 365,795 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Rockwell Automation by 6.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 955,574 shares of the industrial products company’s stock valued at $278,387,000 after purchasing an additional 54,948 shares during the period. Finally, Champlain Investment Partners LLC grew its position in shares of Rockwell Automation by 82.4% in the first quarter. Champlain Investment Partners LLC now owns 859,717 shares of the industrial products company’s stock valued at $250,461,000 after purchasing an additional 388,400 shares during the period. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

NYSE:ROK opened at $263.20 on Wednesday. The stock has a market cap of $30.01 billion, a P/E ratio of 25.73, a PEG ratio of 4.57 and a beta of 1.37. The stock has a 50 day simple moving average of $265.83 and a 200 day simple moving average of $270.39. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76.

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, topping analysts’ consensus estimates of $2.08 by $0.63. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. Rockwell Automation’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.01 EPS. Research analysts anticipate that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

Rockwell Automation declared that its board has authorized a stock repurchase program on Thursday, September 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ROK has been the subject of a number of research reports. TD Cowen lowered their price target on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Robert W. Baird cut their price target on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley initiated coverage on Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 price target on the stock. Barclays cut their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Finally, Bank of America cut their price objective on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $282.80.

About Rockwell Automation

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.