Mercer Global Advisors Inc. ADV Has $3.60 Million Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Mercer Global Advisors Inc. ADV raised its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 9.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 13,092 shares of the industrial products company’s stock after acquiring an additional 1,169 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Rockwell Automation were worth $3,604,000 at the end of the most recent reporting period.

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

Rockwell Automation Price Performance

Shares of ROK stock opened at $261.60 on Monday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. The firm has a fifty day moving average of $265.23 and a 200-day moving average of $269.87. The firm has a market capitalization of $29.82 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 4.57 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last posted its earnings results 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. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The company’s revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.01 earnings per share. On average, equities research analysts forecast that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

Rockwell Automation declared 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 buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America lowered their price target on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Redburn Atlantic began coverage on Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 target price for the company. JPMorgan Chase & Co. cut their price target on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. TD Cowen lowered their price objective on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Finally, Barclays cut 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. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $282.80.

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.