Front Row Advisors LLC Raises Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Front Row Advisors LLC boosted its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.1% in the 2nd quarter, Holdings Channel reports. The fund owned 9,239 shares of the industrial products company’s stock after buying an additional 102 shares during the period. Rockwell Automation makes up 0.9% of Front Row Advisors LLC’s investment portfolio, making the stock its 28th largest position. Front Row Advisors LLC’s holdings in Rockwell Automation were worth $2,543,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Rockwell Automation during the fourth quarter valued at $15,110,000. TD Asset Management Inc grew its position in shares of Rockwell Automation by 8.2% during the 4th quarter. TD Asset Management Inc now owns 40,344 shares of the industrial products company’s stock valued at $12,526,000 after acquiring an additional 3,045 shares during the period. Focus Financial Network Inc. ADV purchased a new position in shares of Rockwell Automation in the 4th quarter valued at about $419,000. TFO Wealth Partners LLC raised its holdings in Rockwell Automation by 74,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 742 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 741 shares during the period. Finally, Evoke Wealth LLC boosted its position in Rockwell Automation by 86.6% during the fourth quarter. Evoke Wealth LLC now owns 4,320 shares of the industrial products company’s stock worth $1,341,000 after purchasing an additional 2,005 shares in the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROK has been the subject of a number of recent analyst reports. Robert W. Baird cut their price objective on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Bank of America reduced their price objective on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Oppenheimer dropped their target price 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. TD Cowen reduced their price target on shares of 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, JPMorgan Chase & Co. lowered their price objective on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Three 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, Rockwell Automation has an average rating of “Hold” and an average price target of $282.80.

Rockwell Automation Stock Down 0.2 %

NYSE ROK opened at $270.61 on Friday. 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 52 week low of $242.81 and a 52 week high of $312.76. The business’s fifty day simple moving average is $263.49 and its 200-day simple moving average is $269.14. The firm has a market cap of $30.85 billion, a PE ratio of 26.45, a P/E/G ratio of 4.64 and a beta of 1.37.

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

Rockwell Automation announced that its board has approved a share buyback plan on Thursday, September 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows 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.

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.