Coldstream Capital Management Inc. Raises Position in Rockwell Automation, Inc. (NYSE:ROK)

Coldstream Capital Management Inc. increased its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 14.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,053 shares of the industrial products company’s stock after buying an additional 378 shares during the period. Coldstream Capital Management Inc.’s holdings in Rockwell Automation were worth $841,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new stake in Rockwell Automation during the first quarter worth about $26,000. Riverview Trust Co purchased a new stake in Rockwell Automation during the first quarter worth about $28,000. ESL Trust Services LLC purchased a new stake in Rockwell Automation during the first quarter worth about $29,000. Security National Bank purchased a new stake in Rockwell Automation during the fourth quarter worth about $40,000. Finally, Cooksen Wealth LLC purchased a new stake in Rockwell Automation during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ROK shares. JPMorgan Chase & Co. decreased their price objective on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. TD Cowen reduced their price target 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. 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 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. Finally, Wells Fargo & Company reduced their price target on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Rockwell Automation currently has a consensus rating of “Hold” and an average price target of $282.80.

Rockwell Automation Price Performance

Rockwell Automation stock opened at $256.85 on Thursday. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The firm has a fifty day moving average of $266.04 and a 200-day moving average of $271.11. The firm has a market capitalization of $29.28 billion, a P/E ratio of 25.11, a PEG ratio of 4.55 and a beta of 1.37. 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 (NYSE:ROK) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business earned $3.01 earnings per share. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, analysts predict that Rockwell Automation, Inc. will post 9.66 EPS for the current year.

Rockwell Automation announced that its board has initiated a stock 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 reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.