Intech Investment Management LLC Reduces Position in Rockwell Automation, Inc. (NYSE:ROK)

Intech Investment Management LLC cut its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 86.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,552 shares of the industrial products company’s stock after selling 127,376 shares during the period. Intech Investment Management LLC’s holdings in Rockwell Automation were worth $5,382,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC purchased a new stake in shares of Rockwell Automation during the first quarter valued at $26,000. Riverview Trust Co purchased a new stake in shares of Rockwell Automation during the first quarter valued at $28,000. ESL Trust Services LLC purchased a new stake in shares of Rockwell Automation during the first quarter valued at $29,000. Security National Bank bought a new position in Rockwell Automation in the fourth quarter valued at about $40,000. Finally, Cooksen Wealth LLC bought a new position in Rockwell Automation in the fourth quarter valued at about $40,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ROK has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. TD Cowen lowered their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Robert W. Baird lowered their target price on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Barclays lowered their target price on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Finally, Wells Fargo & Company lowered their target price on Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $282.80.

Rockwell Automation Stock Down 2.5 %

Shares of ROK opened at $261.60 on Friday. The business’s 50 day moving average is $265.23 and its 200 day moving average is $270.02. The company has a market capitalization of $29.82 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 4.57 and a beta of 1.37. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.63. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the company earned $3.01 EPS. Research analysts expect that Rockwell Automation, Inc. will post 9.67 earnings per share for the current fiscal year.

Rockwell Automation announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management 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.