Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lowered its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 3.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,519 shares of the industrial products company’s stock after selling 357 shares during the period. Private Advisor Group LLC’s holdings in Rockwell Automation were worth $2,556,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Pathway Financial Advisers LLC acquired a new position in Rockwell Automation in the first quarter worth approximately $26,000. ESL Trust Services LLC acquired a new stake in shares of Rockwell Automation during the first quarter worth $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Rockwell Automation during the second quarter valued at $36,000. Cultivar Capital Inc. acquired a new position in shares of Rockwell Automation in the 2nd quarter valued at $46,000. Finally, DiNuzzo Private Wealth Inc. increased its stake in Rockwell Automation by 1,707.7% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 235 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 222 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Trading Up 0.5 %

Shares of NYSE ROK opened at $271.33 on Tuesday. The stock has a market cap of $30.79 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 4.70 and a beta of 1.36. The business has a 50 day simple moving average of $265.91 and a 200 day simple moving average of $266.93. 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 52 week low of $242.81 and a 52 week high of $312.76.

Rockwell Automation (NYSE:ROK) last announced 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 for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $3.01 EPS. Rockwell Automation’s quarterly revenue was down 8.4% on a year-over-year basis. On average, research analysts predict that Rockwell Automation, Inc. will post 9.65 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on ROK shares. Oppenheimer upped their price objective on shares of Rockwell Automation from $270.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Redburn Atlantic began coverage on shares of Rockwell Automation in a research note on Monday, July 8th. They issued a “neutral” rating and a $256.00 price objective for the company. Robert W. Baird lowered their price objective on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company increased their target price on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Morgan Stanley initiated coverage on Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $286.47.

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.