AE Wealth Management LLC Has $552,000 Position in Rockwell Automation, Inc. (NYSE:ROK)

AE Wealth Management LLC increased its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 70.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,004 shares of the industrial products company’s stock after purchasing an additional 828 shares during the period. AE Wealth Management LLC’s holdings in Rockwell Automation were worth $552,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ROK. Vanguard Group Inc. increased its stake in shares of Rockwell Automation by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company’s stock valued at $4,092,891,000 after purchasing an additional 438,356 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Rockwell Automation by 951.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock valued at $1,611,915,000 after acquiring an additional 5,006,706 shares during the last quarter. Lazard Asset Management LLC grew its position in Rockwell Automation by 32.0% in the first quarter. Lazard Asset Management LLC now owns 1,510,019 shares of the industrial products company’s stock valued at $439,912,000 after acquiring an additional 365,795 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Rockwell Automation by 6.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 955,574 shares of the industrial products company’s stock worth $278,387,000 after acquiring an additional 54,948 shares in the last quarter. Finally, Champlain Investment Partners LLC lifted its holdings in shares of Rockwell Automation by 82.4% in the first quarter. Champlain Investment Partners LLC now owns 859,717 shares of the industrial products company’s stock worth $250,461,000 after acquiring an additional 388,400 shares during the last quarter. 75.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ROK. Redburn Atlantic assumed coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 price objective for the company. Oppenheimer dropped their price target on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. TD Cowen cut their price objective on Rockwell Automation from $220.00 to $215.00 and set a “sell” 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 for the company in a report on Wednesday, July 10th. Finally, Morgan Stanley initiated coverage on Rockwell Automation in a research note on Friday, September 6th. They set an “overweight” rating and a $320.00 price target on the stock. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $282.80.

Rockwell Automation Trading Up 5.1 %

ROK opened at $271.09 on Friday. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. The company has a fifty day moving average of $263.51 and a 200-day moving average of $269.33. The stock has a market cap of $30.76 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 4.64 and a beta of 1.37. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.63. The firm had revenue of $2.05 billion during 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 business’s revenue was down 8.4% compared to the same quarter last year. During the same period last year, the business posted $3.01 EPS. On average, sell-side analysts predict that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

Rockwell Automation declared that its board has initiated a share repurchase program 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 repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Rockwell Automation 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.