Rockwell Automation, Inc. (NYSE:ROK) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,764 shares of the industrial products company’s stock after buying an additional 55 shares during the quarter. State of Alaska Department of Revenue’s holdings in Rockwell Automation were worth $3,694,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new stake in Rockwell Automation during the first quarter valued at approximately $26,000. ESL Trust Services LLC bought a new position in shares of Rockwell Automation during the first quarter valued at approximately $29,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Rockwell Automation during the second quarter valued at approximately $36,000. Cultivar Capital Inc. bought a new position in shares of Rockwell Automation during the second quarter valued at approximately $46,000. Finally, Headlands Technologies LLC bought a new position in shares of Rockwell Automation during the first quarter valued at approximately $66,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ROK. Barclays lowered their target price on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Bank of America upped their target price on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lowered their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Redburn Atlantic began coverage on Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 price objective for the company. Finally, Mizuho increased their price objective on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $286.47.

Rockwell Automation Stock Performance

Shares of NYSE ROK opened at $266.61 on Thursday. The stock has a fifty day moving average price of $265.99 and a two-hundred day moving average price of $266.81. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04. The firm has a market cap of $30.25 billion, a P/E ratio of 30.30, a PEG ratio of 4.70 and a beta of 1.36. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.63. The firm had revenue of $2.05 billion during 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 firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the company posted $3.01 EPS. Research analysts forecast that Rockwell Automation, Inc. will post 9.65 EPS for the current fiscal year.

Rockwell Automation announced that its Board of Directors has approved a share repurchase plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Rockwell Automation 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.