SeaCrest Wealth Management LLC Sells 272 Shares of Rockwell Automation, Inc. (NYSE:ROK)

SeaCrest Wealth Management LLC lowered its position in Rockwell Automation, Inc. (NYSE:ROK) by 22.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 946 shares of the industrial products company’s stock after selling 272 shares during the period. SeaCrest Wealth Management LLC’s holdings in Rockwell Automation were worth $254,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new position in shares of Rockwell Automation in the 1st quarter worth $26,000. Riverview Trust Co bought a new position in shares of Rockwell Automation in the first quarter valued at $28,000. ESL Trust Services LLC acquired a new position in shares of Rockwell Automation during the first quarter valued at about $29,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Rockwell Automation during the second quarter worth about $36,000. Finally, Webster Bank N. A. acquired a new stake in shares of Rockwell Automation in the 1st quarter worth about $44,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Stock Up 0.1 %

Rockwell Automation stock opened at $272.82 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. The company has a market capitalization of $31.10 billion, a P/E ratio of 26.67, a P/E/G ratio of 4.64 and a beta of 1.36. The firm has a 50 day moving average price of $264.95 and a 200-day moving average price of $267.67. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76.

Rockwell Automation (NYSE:ROK) last released 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. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The business 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 business posted $3.01 earnings per share. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities analysts predict that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

Rockwell Automation declared that its Board of Directors has authorized a share repurchase program on Thursday, September 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ROK shares. Mizuho boosted their price objective on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday. Oppenheimer upped their price target on Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Morgan Stanley started coverage on Rockwell Automation in a research note on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective on the stock. Redburn Atlantic began coverage on shares of Rockwell Automation in a research note on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price for the company. Finally, Bank of America raised their price target on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.