Brown Brothers Harriman & Co. Reduces Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Brown Brothers Harriman & Co. lessened its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 14.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 430 shares of the industrial products company’s stock after selling 73 shares during the period. Brown Brothers Harriman & Co.’s holdings in Rockwell Automation were worth $118,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ROK. Pathway Financial Advisers LLC acquired a new stake in shares of Rockwell Automation during the 1st quarter worth about $26,000. Riverview Trust Co acquired a new stake in Rockwell Automation during the first quarter worth approximately $28,000. ESL Trust Services LLC purchased a new stake in Rockwell Automation in the 1st quarter worth approximately $29,000. Security National Bank acquired a new position in Rockwell Automation in the 4th quarter valued at $40,000. Finally, Cooksen Wealth LLC purchased a new position in shares of Rockwell Automation during the 4th quarter worth $40,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $262.74 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76. The company has a market capitalization 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 business has a 50-day moving average of $265.79 and a 200-day moving average of $270.34.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the business earned $3.01 EPS. Rockwell Automation’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, equities analysts anticipate 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 shares. This buyback authorization allows the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Oppenheimer decreased 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 report on Thursday, August 8th. Robert W. Baird lowered their target price on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company cut their price target on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, Barclays lowered their price objective on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently 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.