Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. reduced its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 14.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 430 shares of the industrial products company’s stock after selling 73 shares during the period. Brown Brothers Harriman & Co.’s holdings in Rockwell Automation were worth $118,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ROK. Pathway Financial Advisers LLC acquired a new stake in Rockwell Automation in the first quarter valued at $26,000. Riverview Trust Co bought a new stake in shares of Rockwell Automation in the 1st quarter worth about $28,000. ESL Trust Services LLC acquired a new stake in shares of Rockwell Automation in the 1st quarter valued at about $29,000. Security National Bank bought a new position in shares of Rockwell Automation during the fourth quarter worth about $40,000. Finally, Cooksen Wealth LLC bought a new position in shares of Rockwell Automation during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Analyst Ratings Changes

ROK has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Barclays lowered their price target on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Morgan Stanley initiated coverage on shares of Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price objective for the company. Oppenheimer dropped their target price on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Redburn Atlantic assumed coverage on shares of Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $282.80.

Rockwell Automation Trading Down 0.2 %

NYSE:ROK opened at $262.74 on Thursday. The stock has a market cap of $29.95 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 4.57 and a beta of 1.37. 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, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The business has a fifty day moving average of $265.79 and a 200-day moving average of $270.34.

Rockwell Automation (NYSE:ROK) last released 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 firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the company earned $3.01 EPS. Rockwell Automation’s quarterly revenue was down 8.4% on a year-over-year basis. Equities analysts predict that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

Rockwell Automation declared that its Board of Directors has initiated a share repurchase plan on Thursday, September 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is 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.