Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Trivant Custom Portfolio Group LLC

Trivant Custom Portfolio Group LLC decreased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 5.0% in the 3rd quarter, Holdings Channel reports. The firm owned 5,458 shares of the industrial products company’s stock after selling 288 shares during the quarter. Trivant Custom Portfolio Group LLC’s holdings in Rockwell Automation were worth $1,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of ROK. Hazlett Burt & Watson Inc. boosted 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 valued at $72,000 after purchasing an additional 37 shares during the last quarter. CreativeOne Wealth LLC grew its stake in shares of Rockwell Automation by 3.0% in the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock valued at $372,000 after buying an additional 37 shares in the last quarter. Mather Group LLC. grew its stake in shares of Rockwell Automation by 5.9% in the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock valued at $198,000 after buying an additional 38 shares in the last quarter. Pure Financial Advisors LLC increased its holdings in 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 worth $444,000 after buying an additional 42 shares during the last quarter. Finally, Pitcairn Co. raised its position in Rockwell Automation by 4.2% during the first quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company’s stock valued at $319,000 after acquiring an additional 44 shares in the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Stock Performance

Rockwell Automation stock traded up $2.04 during mid-day trading on Friday, reaching $267.01. The company had a trading volume of 415,821 shares, compared to its average volume of 906,143. The company has a 50 day moving average of $262.95 and a 200-day moving average of $268.72. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $312.76. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The firm has a market cap of $30.44 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 4.64 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last issued its quarterly 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. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company posted $3.01 earnings per share. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, sell-side analysts expect that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation announced that its Board of Directors has authorized 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 repurchase up to 3.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently commented on ROK. JPMorgan Chase & Co. dropped their price target on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Oppenheimer cut their target price on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. TD Cowen decreased their price target on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company lowered their price objective on Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, Redburn Atlantic assumed coverage on Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price for the company. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $282.80.

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.