Vontobel Holding Ltd. Decreases Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Vontobel Holding Ltd. lowered its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 12.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,398 shares of the industrial products company’s stock after selling 3,154 shares during the period. Vontobel Holding Ltd.’s holdings in Rockwell Automation were worth $5,745,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ROK. Pathway Financial Advisers LLC purchased a new position in Rockwell Automation in the first quarter valued at about $26,000. Riverview Trust Co purchased a new stake in shares of Rockwell Automation during the 1st quarter valued at about $28,000. ESL Trust Services LLC acquired a new position in Rockwell Automation during the 1st quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL purchased a new position in Rockwell Automation in the 2nd quarter worth approximately $36,000. Finally, Webster Bank N. A. acquired a new stake in Rockwell Automation in the first quarter valued at approximately $44,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Trading Down 0.6 %

Shares of NYSE ROK opened at $272.63 on Friday. The stock’s 50 day moving average price is $264.65 and its two-hundred day moving average price is $267.75. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The stock has a market capitalization of $31.08 billion, a P/E ratio of 26.65, a PEG ratio of 4.64 and a beta of 1.36. 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 (NYSE:ROK) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share 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 analysts’ expectations of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.01 EPS. On average, analysts anticipate that Rockwell Automation, Inc. will post 9.67 earnings per share for the current fiscal year.

Rockwell Automation announced that its Board of Directors has authorized 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 purchase 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.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ROK. Oppenheimer upped their target price on shares of Rockwell Automation from $270.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday. Wells Fargo & Company raised their target price on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Robert W. Baird cut 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. Barclays lowered their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Finally, Morgan Stanley started coverage on Rockwell Automation in a research report 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, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation presently has a consensus rating of “Hold” and an average target price of $286.47.

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.