Transatlantique Private Wealth LLC Raises Position in Rockwell Automation, Inc. (NYSE:ROK)

Transatlantique Private Wealth LLC lifted its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,970 shares of the industrial products company’s stock after buying an additional 70 shares during the period. Transatlantique Private Wealth LLC’s holdings in Rockwell Automation were worth $818,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new position in Rockwell Automation during the 1st quarter worth $26,000. Riverview Trust Co bought a new position in shares of Rockwell Automation during the first quarter valued at about $28,000. ESL Trust Services LLC bought a new position in shares of Rockwell Automation during the first quarter valued at about $29,000. Security National Bank purchased a new position in Rockwell Automation during the fourth quarter worth about $40,000. Finally, Cooksen Wealth LLC bought a new stake in Rockwell Automation in the 4th quarter worth about $40,000. Institutional investors own 75.75% of the company’s stock.

Wall Street Analysts Forecast Growth

ROK has been the topic of a number of research analyst reports. Bank of America cut their target price 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. JPMorgan Chase & Co. dropped their price target on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Oppenheimer reduced their price objective on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Redburn Atlantic assumed coverage on Rockwell Automation in a research note on Monday, July 8th. They set a “neutral” rating and a $256.00 target price on the stock. Finally, Morgan Stanley started coverage on shares of Rockwell Automation in a research report on Friday, September 6th. They set an “overweight” rating and a $320.00 price target for the company. 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $282.80.

Rockwell Automation Stock Down 2.5 %

Rockwell Automation stock opened at $261.58 on Friday. The firm has a 50 day simple moving average of $265.23 and a 200 day simple moving average of $270.14. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76. The firm has a market capitalization of $29.82 billion, a price-to-earnings ratio of 25.57, a P/E/G ratio of 4.57 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share 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 company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the business earned $3.01 earnings per share. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, analysts predict that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

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