LPL Financial LLC Has $33.65 Million Position in Rockwell Automation, Inc. (NYSE:ROK)

LPL Financial LLC increased its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 20.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,252 shares of the industrial products company’s stock after purchasing an additional 20,994 shares during the period. LPL Financial LLC owned approximately 0.11% of Rockwell Automation worth $33,653,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ROK. Pathway Financial Advisers LLC acquired a new stake in shares of Rockwell Automation during the 1st quarter worth approximately $26,000. Riverview Trust Co bought a new position in shares of Rockwell Automation in the 1st quarter valued at $28,000. ESL Trust Services LLC bought a new position in shares of Rockwell Automation in the 1st quarter valued at $29,000. Security National Bank acquired a new position in shares of Rockwell Automation during the 4th quarter worth $40,000. Finally, Cooksen Wealth LLC bought a new stake in shares of Rockwell Automation during the 4th quarter worth $40,000. Institutional investors own 75.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. TD Cowen decreased their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price objective on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Robert W. Baird cut their target price on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley assumed coverage on shares of Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 price target for the company. Finally, Redburn Atlantic initiated coverage on Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Rockwell Automation currently has an average rating of “Hold” and an average target price of $282.80.

Rockwell Automation Trading Down 0.3 %

Shares of Rockwell Automation stock opened at $262.08 on Tuesday. The stock has a market capitalization of $29.88 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 4.57 and a beta of 1.37. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $312.76. The stock has a 50 day moving average price of $265.79 and a two-hundred day moving average price of $270.57. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04.

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, beating the consensus estimate 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 net margin of 11.56% and a return on equity of 34.09%. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.01 EPS. As a group, equities analysts anticipate that Rockwell Automation, Inc. will post 9.67 earnings per share for the current fiscal year.

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

About Rockwell Automation

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.