Victory Capital Management Inc. Has $13.62 Million Stake in Rockwell Automation, Inc. (NYSE:ROK)

Victory Capital Management Inc. lowered its position in Rockwell Automation, Inc. (NYSE:ROK) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,479 shares of the industrial products company’s stock after selling 3,292 shares during the quarter. Victory Capital Management Inc.’s holdings in Rockwell Automation were worth $13,621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ROK. Quadrant Capital Group LLC grew its holdings in Rockwell Automation by 3.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,115 shares of the industrial products company’s stock worth $346,000 after purchasing an additional 37 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in shares of Rockwell Automation by 17.5% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 248 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 37 shares during the period. CreativeOne Wealth LLC increased its holdings 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 worth $372,000 after acquiring an additional 37 shares during the last quarter. Mather Group LLC. raised its stake in Rockwell Automation by 5.9% in the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock valued at $198,000 after acquiring an additional 38 shares during the period. Finally, Lindbrook Capital LLC lifted its holdings in Rockwell Automation by 5.9% during the 1st quarter. Lindbrook Capital LLC now owns 749 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

ROK opened at $262.92 on Friday. The firm has a market cap of $29.97 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 4.57 and a beta of 1.37. The business’s fifty day moving average is $265.85 and its 200-day moving average is $270.92. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results 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 company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.01 EPS. Sell-side analysts expect that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ROK shares. Morgan Stanley assumed coverage on shares of Rockwell Automation in a research report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price objective on the stock. Robert W. Baird cut their price objective on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Redburn Atlantic initiated coverage on Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 price objective for the company. Wells Fargo & Company lowered their target price on Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, Oppenheimer reduced their price target on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Rockwell Automation presently has an average rating of “Hold” and a consensus price target of $282.80.

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.