MQS Management LLC Increases Position in Rockwell Automation, Inc. (NYSE:ROK)

MQS Management LLC grew its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 37.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,057 shares of the industrial products company’s stock after purchasing an additional 288 shares during the quarter. MQS Management LLC’s holdings in Rockwell Automation were worth $291,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hazlett Burt & Watson Inc. lifted its position in Rockwell Automation by 17.5% during the first quarter. Hazlett Burt & Watson Inc. now owns 248 shares of the industrial products company’s stock worth $72,000 after buying an additional 37 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in shares of Rockwell Automation by 3.0% during the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock worth $372,000 after acquiring an additional 37 shares during the period. Mather Group LLC. raised its holdings in shares of Rockwell Automation by 5.9% during the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 38 shares during the period. Lindbrook Capital LLC boosted its position in shares of Rockwell Automation by 5.9% during the 1st quarter. Lindbrook Capital LLC now owns 749 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 42 shares during the last quarter. Finally, Pure Financial Advisors LLC grew its holdings in shares of Rockwell Automation by 2.7% in the second quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock valued at $444,000 after purchasing an additional 42 shares during the period. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on ROK. Oppenheimer reduced their target price on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company reduced their price target on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Bank of America lowered their price objective on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Morgan Stanley initiated coverage on Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 price target on the stock. Finally, Barclays cut their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $282.80.

Rockwell Automation Stock Performance

Shares of Rockwell Automation stock opened at $261.58 on Friday. The business has a 50-day simple moving average of $265.23 and a 200-day simple moving average of $270.14. 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 one year low of $242.81 and a one year high of $312.76. The company has a market cap of $29.82 billion, a PE ratio of 25.57, a P/E/G ratio of 4.57 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS 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 analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business posted $3.01 EPS. The firm’s revenue was down 8.4% on a year-over-year basis. On average, equities research analysts forecast that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation announced that its board has authorized a share buyback plan on Thursday, September 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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.