Axxcess Wealth Management LLC Has $1.37 Million Stake in Rockwell Automation, Inc. (NYSE:ROK)

Axxcess Wealth Management LLC reduced its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 15.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,990 shares of the industrial products company’s stock after selling 898 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Rockwell Automation were worth $1,374,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ROK. Edgestream Partners L.P. acquired a new position in Rockwell Automation during the second quarter valued at approximately $350,000. Dimensional Fund Advisors LP grew its holdings in shares of Rockwell Automation by 10.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 794,739 shares of the industrial products company’s stock valued at $218,749,000 after buying an additional 74,442 shares during the period. Quilter Plc increased its position in shares of Rockwell Automation by 12.5% in the 2nd quarter. Quilter Plc now owns 304,010 shares of the industrial products company’s stock valued at $83,688,000 after buying an additional 33,873 shares in the last quarter. Nia Impact Advisors LLC raised its position in shares of Rockwell Automation by 3.6% during the second quarter. Nia Impact Advisors LLC now owns 8,648 shares of the industrial products company’s stock worth $2,381,000 after purchasing an additional 300 shares during the period. Finally, Garrison Asset Management LLC raised its holdings in Rockwell Automation by 0.8% during the 2nd quarter. Garrison Asset Management LLC now owns 11,485 shares of the industrial products company’s stock worth $3,162,000 after buying an additional 90 shares during the period. 75.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

ROK has been the subject of several research reports. TD Cowen lowered their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Bank of America dropped their price target on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company reduced their price objective on Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Redburn Atlantic began coverage on Rockwell Automation in a research note on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price on the stock. Finally, Robert W. Baird decreased their price target on shares of 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 investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $282.80.

Rockwell Automation Stock Down 0.2 %

Shares of ROK stock opened at $262.74 on Thursday. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The stock has a market cap of $29.95 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 4.57 and a beta of 1.37. The firm’s 50-day moving average is $265.79 and its 200-day moving average is $270.34. 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 (NYSE:ROK) last released its quarterly earnings data 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 quarter in the prior year, the company earned $3.01 earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. Sell-side analysts predict that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

Rockwell Automation declared that its board has approved a stock buyback plan on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors 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.