Rockwell Automation, Inc. (NYSE:ROK) Stock Holdings Lifted by Federated Hermes Inc.

Federated Hermes Inc. lifted its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 10.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 116,836 shares of the industrial products company’s stock after buying an additional 10,701 shares during the quarter. Federated Hermes Inc. owned approximately 0.10% of Rockwell Automation worth $32,163,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in 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 lifted its position in Rockwell Automation by 951.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock valued at $1,611,915,000 after purchasing an additional 5,006,706 shares during the last quarter. Lazard Asset Management LLC lifted its position in Rockwell Automation by 32.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,510,019 shares of the industrial products company’s stock valued at $439,912,000 after purchasing an additional 365,795 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Rockwell Automation by 6.1% in the 1st 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 last quarter. Finally, Champlain Investment Partners LLC lifted its position in Rockwell Automation by 82.4% in the 1st 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 last quarter. 75.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ROK has been the topic of a number of recent analyst reports. TD Cowen dropped their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company dropped their price target on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Bank of America dropped their price target on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Robert W. Baird dropped their price target on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of 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 equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $282.80.

Rockwell Automation Stock Performance

Rockwell Automation stock opened at $262.92 on Friday. The firm’s 50 day simple moving average is $265.85 and its 200-day simple moving average is $270.85. The company 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 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, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $312.76.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.63. The business had revenue of $2.05 billion for 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% compared to the same quarter last year. During the same period last year, the firm posted $3.01 earnings per share. As a group, equities research analysts predict that Rockwell Automation, Inc. will post 9.67 EPS 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 repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is 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.