Vicus Capital Buys New Position in Rockwell Automation, Inc. (NYSE:ROK)

Vicus Capital bought a new stake in Rockwell Automation, Inc. (NYSE:ROK) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,132 shares of the industrial products company’s stock, valued at approximately $304,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ROK. International Assets Investment Management LLC raised its position in Rockwell Automation by 28.6% in the 1st quarter. International Assets Investment Management LLC now owns 1,223 shares of the industrial products company’s stock valued at $347,000 after buying an additional 272 shares during the last quarter. Riverview Trust Co acquired a new stake in Rockwell Automation in the 1st quarter valued at approximately $28,000. Brookstone Capital Management raised its position in Rockwell Automation by 69.2% in the 1st quarter. Brookstone Capital Management now owns 1,815 shares of the industrial products company’s stock valued at $529,000 after buying an additional 742 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in Rockwell Automation in the 1st quarter valued at approximately $232,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Rockwell Automation by 1.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,774 shares of the industrial products company’s stock valued at $4,887,000 after purchasing an additional 296 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ROK. Morgan Stanley began coverage on Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 price target for the company. Bank of America raised their price target on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Redburn Atlantic began coverage on Rockwell Automation in a research note on Monday, July 8th. They issued a “neutral” rating and a $256.00 price target for the company. Oppenheimer raised their price target on Rockwell Automation from $270.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Robert W. Baird decreased their price target on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Rockwell Automation currently has a consensus rating of “Hold” and an average price target of $286.47.

Rockwell Automation Stock Down 0.4 %

ROK stock opened at $268.79 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. The business’s 50 day simple moving average is $265.46 and its 200 day simple moving average is $267.38. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76. The firm has a market capitalization of $30.64 billion, a PE ratio of 26.27, a PEG ratio of 4.64 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates 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 prior year, the firm posted $3.01 EPS. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, research analysts anticipate that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

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