Sei Investments Co. Acquires 127 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Sei Investments Co. raised its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,932 shares of the industrial products company’s stock after acquiring an additional 127 shares during the quarter. Sei Investments Co.’s holdings in Rockwell Automation were worth $20,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pathway Financial Advisers LLC bought a new stake in Rockwell Automation during the 1st quarter valued at $26,000. Riverview Trust Co bought a new position in shares of Rockwell Automation in the first quarter worth $28,000. ESL Trust Services LLC bought a new position in shares of Rockwell Automation in the first quarter worth $29,000. Security National Bank bought a new position in shares of Rockwell Automation in the fourth quarter worth $40,000. Finally, Cooksen Wealth LLC bought a new position in shares of Rockwell Automation in the fourth quarter worth $40,000. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

NYSE ROK opened at $258.04 on Thursday. The company has a 50-day simple moving average of $264.10 and a two-hundred day simple moving average of $269.41. 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 market cap of $29.28 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 4.64 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 earnings per share (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 business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business posted $3.01 earnings per share. The company’s revenue was down 8.4% on a year-over-year basis. On average, equities analysts forecast that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

Rockwell Automation announced that its board has initiated 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 repurchase up to 3.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Oppenheimer decreased their price target on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Robert W. Baird decreased their price target on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Bank of America decreased their price target on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company decreased their price target on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, Morgan Stanley began coverage on Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.