Rockwell Automation, Inc. (NYSE:ROK) Holdings Lifted by Wealthspire Advisors LLC

Wealthspire Advisors LLC boosted its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 4.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,259 shares of the industrial products company’s stock after acquiring an additional 92 shares during the quarter. Wealthspire Advisors LLC’s holdings in Rockwell Automation were worth $622,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Pathway Financial Advisers LLC purchased a new position in Rockwell Automation in the first quarter valued at about $26,000. Riverview Trust Co acquired a new stake in shares of Rockwell Automation during the 1st quarter valued at about $28,000. ESL Trust Services LLC bought a new stake in shares of Rockwell Automation in the 1st quarter valued at approximately $29,000. Security National Bank bought a new position in Rockwell Automation during the fourth quarter valued at approximately $40,000. Finally, Cooksen Wealth LLC acquired a new stake in Rockwell Automation in the fourth quarter valued at approximately $40,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Trading Down 0.3 %

ROK stock opened at $262.08 on Tuesday. 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 firm has a market cap of $29.88 billion, a P/E ratio of 25.62, a P/E/G ratio of 4.57 and a beta of 1.37. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76. The business’s 50 day moving average is $265.79 and its 200-day moving average is $270.57.

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

Rockwell Automation declared that its board has approved a share repurchase program on Thursday, September 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ROK shares. JPMorgan Chase & Co. reduced their price objective on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Morgan Stanley assumed coverage on Rockwell Automation in a research note on Friday, September 6th. They set an “overweight” rating and a $320.00 price target for the company. Wells Fargo & Company cut their price objective on Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Bank of America dropped their price target on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Oppenheimer lowered their target price on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.