Delaney Dennis R Purchases 63 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Delaney Dennis R boosted its position in Rockwell Automation, Inc. (NYSE:ROK) by 0.3% during the second quarter, Holdings Channel.com reports. The fund owned 21,375 shares of the industrial products company’s stock after acquiring an additional 63 shares during the period. Rockwell Automation accounts for 3.2% of Delaney Dennis R’s holdings, making the stock its 15th largest holding. Delaney Dennis R’s holdings in Rockwell Automation were worth $5,884,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. raised its holdings in shares of Rockwell Automation by 17.5% during the first quarter. Hazlett Burt & Watson Inc. now owns 248 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 37 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in Rockwell Automation by 3.0% during the first quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock valued at $372,000 after buying an additional 37 shares during the last quarter. Mather Group LLC. raised its position in Rockwell Automation by 5.9% in the second quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 38 shares during the period. Lindbrook Capital LLC boosted its stake in shares of Rockwell Automation by 5.9% during the 1st quarter. Lindbrook Capital LLC now owns 749 shares of the industrial products company’s stock worth $218,000 after acquiring an additional 42 shares during the last quarter. Finally, Pure Financial Advisors LLC grew its position in shares of Rockwell Automation by 2.7% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock valued at $444,000 after acquiring an additional 42 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

Shares of Rockwell Automation stock opened at $262.74 on Thursday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The stock’s fifty day moving average is $265.79 and its two-hundred day moving average is $270.34. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $312.76. The company has a market capitalization of $29.95 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 4.57 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.63. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.01 earnings per share. As a group, analysts expect that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

Rockwell Automation declared that its Board of Directors has approved a stock repurchase plan on Thursday, September 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ROK shares. TD Cowen reduced their price objective 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. Morgan Stanley initiated coverage on shares of Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Redburn Atlantic started coverage on Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price on the stock. Finally, Wells Fargo & Company decreased their target price on Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average 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.