Hartford Investment Management Co. Sells 155 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Hartford Investment Management Co. trimmed its position in Rockwell Automation, Inc. (NYSE:ROK) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,137 shares of the industrial products company’s stock after selling 155 shares during the period. Hartford Investment Management Co.’s holdings in Rockwell Automation were worth $1,916,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new stake in Rockwell Automation during the first quarter valued at $26,000. ESL Trust Services LLC bought a new stake in shares of Rockwell Automation during the 1st quarter valued at about $29,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Rockwell Automation during the second quarter worth about $36,000. Webster Bank N. A. bought a new position in shares of Rockwell Automation in the first quarter worth approximately $44,000. Finally, Cultivar Capital Inc. purchased a new stake in Rockwell Automation in the second quarter valued at approximately $46,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Automation Trading Up 0.5 %

Shares of ROK opened at $267.68 on Friday. The stock has a market capitalization of $30.37 billion, a P/E ratio of 30.42, a PEG ratio of 4.68 and a beta of 1.36. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. 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 firm has a fifty day simple moving average of $265.56 and a two-hundred day simple moving average of $267.37.

Rockwell Automation (NYSE:ROK) last posted its 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. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business posted $3.01 earnings per share. Rockwell Automation’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, research analysts anticipate that Rockwell Automation, Inc. will post 9.65 EPS for the current 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 outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have commented on ROK shares. TD Cowen cut 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 note on Thursday, August 8th. Redburn Atlantic assumed coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price for the company. Morgan Stanley initiated coverage on Rockwell Automation in a research report on Friday, September 6th. They set an “overweight” rating and a $320.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Finally, Mizuho raised their price objective on Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average 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.