MQS Management LLC Raises Holdings in Rockwell Automation, Inc. (NYSE:ROK)

MQS Management LLC lifted its stake in Rockwell Automation, Inc. (NYSE:ROK) by 37.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,057 shares of the industrial products company’s stock after purchasing an additional 288 shares during the quarter. MQS Management LLC’s holdings in Rockwell Automation were worth $291,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ROK. Price T Rowe Associates Inc. MD increased its stake in Rockwell Automation by 951.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock valued at $1,611,915,000 after purchasing an additional 5,006,706 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Rockwell Automation by 1,119.3% in the 2nd quarter. Van ECK Associates Corp now owns 763,351 shares of the industrial products company’s stock valued at $210,135,000 after acquiring an additional 700,745 shares during the period. Vanguard Group Inc. raised its stake in Rockwell Automation by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company’s stock worth $4,092,891,000 after acquiring an additional 438,356 shares during the last quarter. Swedbank AB acquired a new stake in Rockwell Automation during the 1st quarter worth about $118,345,000. Finally, Champlain Investment Partners LLC grew its stake in Rockwell Automation by 82.4% during the 1st quarter. Champlain Investment Partners LLC now owns 859,717 shares of the industrial products company’s stock valued at $250,461,000 after purchasing an additional 388,400 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $261.58 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04. The firm has a market cap of $29.82 billion, a PE ratio of 25.57, a PEG ratio of 4.57 and a beta of 1.37. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76. The firm has a fifty day moving average of $265.23 and a 200 day moving average of $270.14.

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 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 firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $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 predict that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation announced that its Board of Directors has approved a stock buyback program on Thursday, September 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Redburn Atlantic started coverage on Rockwell Automation in a research note on Monday, July 8th. They issued a “neutral” rating and a $256.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Morgan Stanley started coverage on shares of Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 price objective on the stock. Bank of America decreased their target price on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, TD Cowen cut their price target on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $282.80.

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.