Davidson Kempner Capital Management LP Buys Shares of 40,000 Rockwell Automation, Inc. (NYSE:ROK)

Davidson Kempner Capital Management LP bought a new position in Rockwell Automation, Inc. (NYSE:ROK) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 40,000 shares of the industrial products company’s stock, valued at approximately $11,011,000.

Several other hedge funds have also modified their holdings of the company. Interval Partners LP lifted its position in Rockwell Automation by 479,608.6% during the second quarter. Interval Partners LP now owns 335,656 shares of the industrial products company’s stock valued at $92,399,000 after acquiring an additional 335,726 shares during the last quarter. Bank of Montreal Can increased its position in shares of Rockwell Automation by 3.6% during the second quarter. Bank of Montreal Can now owns 165,253 shares of the industrial products company’s stock worth $44,179,000 after purchasing an additional 5,705 shares in the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Rockwell Automation during the 2nd quarter valued at $2,315,000. Edge Capital Group LLC boosted its position in shares of Rockwell Automation by 10.7% in 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. Finally, 1832 Asset Management L.P. grew its stake in Rockwell Automation by 41.7% during the 2nd 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. 75.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ROK has been the subject of a number of research analyst reports. Oppenheimer decreased 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. Wells Fargo & Company decreased their price objective on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Barclays dropped their target price on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Robert W. Baird decreased their price target on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley initiated coverage on shares of Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $282.80.

Rockwell Automation Trading Down 2.5 %

Rockwell Automation stock opened at $261.60 on Monday. The firm has a market cap of $29.82 billion, a PE ratio of 25.57, a P/E/G ratio of 4.57 and a beta of 1.37. Rockwell Automation, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76. The stock’s 50 day simple moving average is $265.23 and its two-hundred day simple moving average is $269.87. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73.

Rockwell Automation (NYSE:ROK) last released its quarterly 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. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The firm’s revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the business earned $3.01 earnings per share. Analysts anticipate that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

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

Rockwell Automation 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.