Everett Harris & Co. CA Raises Stake in Rockwell Automation, Inc. (NYSE:ROK)

Everett Harris & Co. CA lifted its position in Rockwell Automation, Inc. (NYSE:ROK) by 23.1% in the third quarter, HoldingsChannel.com reports. The firm owned 1,600 shares of the industrial products company’s stock after purchasing an additional 300 shares during the quarter. Everett Harris & Co. CA’s holdings in Rockwell Automation were worth $430,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norden Group LLC bought a new stake in Rockwell Automation during the first quarter valued at about $2,003,000. SG Americas Securities LLC raised its stake in Rockwell Automation by 186.9% during the 1st quarter. SG Americas Securities LLC now owns 14,731 shares of the industrial products company’s stock valued at $4,292,000 after purchasing an additional 9,596 shares during the period. Comerica Bank lifted its holdings in Rockwell Automation by 6.1% in the 1st quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock worth $17,485,000 after purchasing an additional 3,425 shares in the last quarter. Magnetar Financial LLC bought a new position in Rockwell Automation in the 1st quarter worth approximately $2,817,000. Finally, TimesSquare Capital Management LLC boosted its stake in Rockwell Automation by 5.0% in the 1st quarter. TimesSquare Capital Management LLC now owns 203,830 shares of the industrial products company’s stock worth $59,382,000 after purchasing an additional 9,645 shares during the period. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Price Performance

ROK opened at $272.82 on Friday. The business has a fifty day moving average of $264.95 and a 200 day moving average of $267.59. The stock has a market cap of $31.10 billion, a P/E ratio of 26.67, a PEG ratio of 4.64 and a beta of 1.36. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.63. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The business’s revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.01 earnings per share. As a group, sell-side analysts anticipate that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ROK shares. TD Cowen lowered their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Redburn Atlantic started coverage on shares of Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 price target on the stock. Morgan Stanley began coverage on shares of Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective for the company. Barclays reduced their target price on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. decreased their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $286.47.

Rockwell Automation Company 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.