Dimensional Fund Advisors LP Boosts Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Dimensional Fund Advisors LP grew its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 10.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 794,739 shares of the industrial products company’s stock after buying an additional 74,442 shares during the period. Dimensional Fund Advisors LP owned 0.70% of Rockwell Automation worth $218,749,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new position in Rockwell Automation in the first quarter valued at $26,000. Riverview Trust Co acquired a new position in shares of Rockwell Automation in the 1st quarter valued at about $28,000. ESL Trust Services LLC purchased a new stake in shares of Rockwell Automation during the 1st quarter worth about $29,000. Security National Bank acquired a new stake in Rockwell Automation during the 4th quarter worth approximately $40,000. Finally, Cooksen Wealth LLC purchased a new position in Rockwell Automation in the fourth quarter valued at approximately $40,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Trading Down 0.2 %

ROK opened at $262.74 on Thursday. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68. The stock has a market capitalization of $29.95 billion, a PE ratio of 25.68, a P/E/G ratio of 4.57 and a beta of 1.37. The firm’s fifty day moving average price is $265.79 and its 200 day moving average price is $270.34.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, topping 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 the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm earned $3.01 EPS. The company’s revenue was down 8.4% on a year-over-year basis. As a group, research analysts expect that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation declared that its Board of Directors has approved a stock repurchase program on Thursday, September 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

ROK has been the subject of several research reports. Morgan Stanley initiated coverage on shares of Rockwell Automation in a research note on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective for the company. Barclays cut their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Oppenheimer decreased their target price on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Redburn Atlantic assumed coverage on Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 target price on the stock. Finally, Bank of America decreased their price target on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently 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.