Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 6.6% during the second quarter, Holdings Channel reports. The fund owned 23,258 shares of the industrial products company’s stock after selling 1,642 shares during the quarter. Amalgamated Bank’s holdings in Rockwell Automation were worth $6,402,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ROK. Pathway Financial Advisers LLC acquired a new stake in shares of Rockwell Automation during the 1st quarter worth about $26,000. Riverview Trust Co acquired a new stake in Rockwell Automation during the first quarter worth approximately $28,000. ESL Trust Services LLC purchased a new stake in Rockwell Automation in the 1st quarter worth approximately $29,000. Security National Bank acquired a new position in Rockwell Automation in the 4th quarter valued at $40,000. Finally, Cooksen Wealth LLC purchased a new position in shares of Rockwell Automation during the 4th quarter worth $40,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

Shares of NYSE:ROK opened at $268.30 on Friday. The business’s 50-day simple moving average is $265.67 and its 200 day simple moving average is $270.32. The company has a market cap of $30.59 billion, a P/E ratio of 26.23, a PEG ratio of 4.57 and a beta of 1.37. 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, Inc. has a one year low of $242.81 and a one year high of $312.76.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.03 billion. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.01 earnings per share. On average, sell-side analysts forecast that Rockwell Automation, Inc. will post 9.67 earnings per share for the current fiscal year.

Rockwell Automation announced that its Board of Directors has authorized a stock repurchase plan on Thursday, September 5th that allows the company to buyback $1.00 billion in 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 a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ROK. Oppenheimer lowered their price objective on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. 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 research note on Monday, August 12th. Robert W. Baird decreased their target price 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. Barclays dropped their price target on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Finally, TD Cowen decreased 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. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rockwell Automation has an average rating of “Hold” and an average target price 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.