Rathbones Group PLC Has $239,000 Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

Rathbones Group PLC lessened its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 7.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 867 shares of the industrial products company’s stock after selling 65 shares during the period. Rathbones Group PLC’s holdings in Rockwell Automation were worth $239,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Financial Advocates Investment Management bought a new position in shares of Rockwell Automation in the fourth quarter valued at $252,000. TrinityPoint Wealth LLC increased its stake in shares of Rockwell Automation by 10.9% during the 4th quarter. TrinityPoint Wealth LLC now owns 959 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 94 shares during the last quarter. Norges Bank bought a new stake in shares of Rockwell Automation in the 4th quarter valued at about $15,110,000. PNC Financial Services Group Inc. lifted its stake in Rockwell Automation by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 99,905 shares of the industrial products company’s stock valued at $31,019,000 after purchasing an additional 4,089 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Rockwell Automation by 19.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,739 shares of the industrial products company’s stock worth $851,000 after purchasing an additional 437 shares during the period. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Stock Up 0.4 %

Shares of NYSE ROK opened at $263.20 on Wednesday. The stock has a market capitalization of $30.01 billion, a P/E ratio of 25.73, a PEG ratio of 4.57 and a beta of 1.37. The stock’s fifty day moving average is $265.83 and its 200 day moving average is $270.39. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $312.76. 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 issued its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $3.01 EPS. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. Sell-side analysts forecast that Rockwell Automation, Inc. will post 9.67 earnings per share for the current fiscal year.

Rockwell Automation declared that its board has approved a share repurchase program on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ROK shares. JPMorgan Chase & Co. reduced their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Robert W. Baird reduced their price objective on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a research report 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 price objective on the stock. TD Cowen reduced their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Finally, Barclays decreased their price target on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Rockwell Automation has a consensus rating of “Hold” and an average price target of $282.80.

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.