Cyrus J. Lawrence LLC Has $427,000 Position in Rockwell Automation, Inc. (NYSE:ROK)

Cyrus J. Lawrence LLC cut its stake in Rockwell Automation, Inc. (NYSE:ROK) by 94.3% during the second quarter, HoldingsChannel reports. The fund owned 1,552 shares of the industrial products company’s stock after selling 25,631 shares during the quarter. Cyrus J. Lawrence LLC’s holdings in Rockwell Automation were worth $427,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ROK. Edge Capital Group LLC raised its stake in shares of Rockwell Automation by 10.7% during the 2nd quarter. Edge Capital Group LLC now owns 23,314 shares of the industrial products company’s stock worth $6,418,000 after purchasing an additional 2,262 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in Rockwell Automation by 41.7% in the second quarter. 1832 Asset Management L.P. now owns 15,969 shares of the industrial products company’s stock worth $4,396,000 after buying an additional 4,702 shares during the last quarter. Heron Bay Capital Management raised its position in Rockwell Automation by 3.7% during the second quarter. Heron Bay Capital Management now owns 42,628 shares of the industrial products company’s stock valued at $11,735,000 after acquiring an additional 1,503 shares in the last quarter. Frank Rimerman Advisors LLC lifted its stake in Rockwell Automation by 24,216.7% in the second quarter. Frank Rimerman Advisors LLC now owns 1,459 shares of the industrial products company’s stock valued at $402,000 after acquiring an additional 1,453 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Rockwell Automation by 8.1% in the second quarter. ProShare Advisors LLC now owns 15,929 shares of the industrial products company’s stock worth $4,385,000 after acquiring an additional 1,190 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ROK shares. Redburn Atlantic assumed coverage on shares of Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 price target on the stock. Bank of America cut their target price on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Oppenheimer cut their price objective on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Wells Fargo & Company reduced their target price on Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Three investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $282.80.

Rockwell Automation Stock Down 2.5 %

Shares of ROK stock opened at $261.60 on Monday. Rockwell Automation, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76. 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 firm has a market cap of $29.82 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 4.57 and a beta of 1.37. The stock has a 50 day moving average of $265.23 and a 200-day moving average of $269.87.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.08 by $0.63. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the company earned $3.01 EPS. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, equities analysts predict that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

Rockwell Automation announced that its board has authorized a stock buyback plan on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

About Rockwell Automation

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.