Choreo LLC Buys 2,334 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Choreo LLC raised its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 114.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,379 shares of the industrial products company’s stock after buying an additional 2,334 shares during the period. Choreo LLC’s holdings in Rockwell Automation were worth $1,162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ROK. Prudential PLC increased its position in shares of Rockwell Automation by 25.7% during the 2nd quarter. Prudential PLC now owns 15,645 shares of the industrial products company’s stock valued at $4,307,000 after purchasing an additional 3,202 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Rockwell Automation by 7.0% during the 2nd quarter. Ballentine Partners LLC now owns 1,421 shares of the industrial products company’s stock valued at $391,000 after acquiring an additional 93 shares during the period. Caprock Group LLC lifted its position in Rockwell Automation by 26.4% during the second quarter. Caprock Group LLC now owns 3,712 shares of the industrial products company’s stock valued at $1,022,000 after purchasing an additional 776 shares in the last quarter. Fiducient Advisors LLC lifted its position in shares of Rockwell Automation by 41.7% during the 2nd quarter. Fiducient Advisors LLC now owns 1,088 shares of the industrial products company’s stock valued at $300,000 after buying an additional 320 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its holdings in Rockwell Automation by 2,724.9% in the 2nd quarter. Strategic Financial Concepts LLC now owns 29,407 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 28,366 shares in the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ROK shares. JPMorgan Chase & Co. reduced their price objective on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Bank of America dropped their price objective on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. TD Cowen lowered their price target on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Oppenheimer lowered their target price on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Barclays cut their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $282.80.

Rockwell Automation Price Performance

Rockwell Automation stock opened at $258.00 on Friday. The stock has a market cap of $29.41 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 4.55 and a beta of 1.37. The firm has a 50-day moving average of $265.88 and a two-hundred day moving average of $271.02. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.63. The business had revenue of $2.05 billion during 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 revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.01 EPS. On average, research analysts forecast that Rockwell Automation, Inc. will post 9.66 earnings per share for the current year.

Rockwell Automation declared that its board has initiated a share buyback plan on Thursday, September 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.