APG Asset Management N.V. Has $94.70 Million Holdings in Rockwell Automation, Inc. (NYSE:ROK)

APG Asset Management N.V. increased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 368,693 shares of the industrial products company’s stock after purchasing an additional 2,573 shares during the quarter. APG Asset Management N.V.’s holdings in Rockwell Automation were worth $94,699,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Rockwell Automation during the fourth quarter valued at approximately $15,110,000. Assetmark Inc. grew its stake in shares of Rockwell Automation by 20.5% in the fourth quarter. Assetmark Inc. now owns 582 shares of the industrial products company’s stock valued at $181,000 after buying an additional 99 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Rockwell Automation by 8.2% in the fourth quarter. TD Asset Management Inc now owns 40,344 shares of the industrial products company’s stock valued at $12,526,000 after buying an additional 3,045 shares in the last quarter. Focus Financial Network Inc. ADV acquired a new position in Rockwell Automation during the fourth quarter worth $419,000. Finally, Treasurer of the State of North Carolina raised its position in Rockwell Automation by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 52,444 shares of the industrial products company’s stock worth $16,283,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ROK. TD Cowen cut their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Bank of America reduced their target price on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Robert W. Baird dropped their price target on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley initiated coverage on Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 price target for the company. Finally, Oppenheimer dropped their price objective on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Three equities research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $282.80.

Rockwell Automation Stock Performance

NYSE ROK opened at $271.09 on Friday. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $312.76. The stock has a market cap of $30.76 billion, a PE ratio of 26.50, a PEG ratio of 4.64 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. The firm’s fifty day moving average price is $263.51 and its two-hundred day moving average price is $269.33.

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

Rockwell Automation declared that its board has initiated a stock buyback 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 reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are typically a sign 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.