Second Line Capital LLC Increases Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Second Line Capital LLC increased its stake in Rockwell Automation, Inc. (NYSE:ROK) by 5.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 963 shares of the industrial products company’s stock after acquiring an additional 47 shares during the period. Second Line Capital LLC’s holdings in Rockwell Automation were worth $265,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new position in shares of Rockwell Automation in the 1st quarter worth approximately $26,000. Riverview Trust Co bought a new stake in Rockwell Automation in the first quarter worth $28,000. ESL Trust Services LLC purchased a new position in shares of Rockwell Automation during the first quarter valued at approximately $29,000. Security National Bank purchased a new position in Rockwell Automation during the 4th quarter valued at $40,000. Finally, Cooksen Wealth LLC purchased a new stake in shares of Rockwell Automation during the fourth quarter valued at $40,000. 75.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

ROK has been the topic of a number of recent research reports. Barclays dropped their price target on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Oppenheimer cut their price objective 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. Bank of America dropped their price target on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley assumed coverage on shares of Rockwell Automation in a research report on Friday, September 6th. They set an “overweight” rating and a $320.00 target price for the company. Finally, Redburn Atlantic assumed coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $282.80.

Rockwell Automation Price Performance

ROK opened at $270.61 on Monday. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The company has a market cap of $30.85 billion, a P/E ratio of 26.45, a P/E/G ratio of 4.64 and a beta of 1.37. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average of $263.49 and a two-hundred day moving average of $269.03.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.63. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates 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 for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.01 earnings per share. On average, analysts expect 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 repurchase program on Thursday, September 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management 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.