Rockwell Automation, Inc. (NYSE:ROK) Holdings Raised by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV raised its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 9.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,092 shares of the industrial products company’s stock after buying an additional 1,169 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Rockwell Automation were worth $3,604,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ROK. Norden Group LLC acquired a new position in Rockwell Automation in the 1st quarter worth about $2,003,000. SG Americas Securities LLC lifted its stake in Rockwell Automation by 186.9% in the first quarter. SG Americas Securities LLC now owns 14,731 shares of the industrial products company’s stock valued at $4,292,000 after acquiring an additional 9,596 shares during the last quarter. Comerica Bank grew its position in Rockwell Automation by 6.1% in the first quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock worth $17,485,000 after acquiring an additional 3,425 shares in the last quarter. Mairs & Power Inc. raised its holdings in shares of Rockwell Automation by 2.4% during the 4th quarter. Mairs & Power Inc. now owns 384,684 shares of the industrial products company’s stock valued at $119,437,000 after purchasing an additional 9,132 shares in the last quarter. Finally, Magnetar Financial LLC bought a new position in shares of Rockwell Automation during the 1st quarter valued at $2,817,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Automation Stock Down 2.5 %

Shares of ROK stock opened at $261.60 on Monday. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68. The stock has a fifty day moving average price of $265.23 and a 200 day moving average price of $269.87. The stock has a market cap of $29.82 billion, a P/E ratio of 25.57, a price-to-earnings-growth ratio of 4.57 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.63. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $3.01 EPS. 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 stock buyback program on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America lowered their target price 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. Robert W. Baird cut their price objective on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. TD Cowen decreased their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Barclays dropped their price target on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Finally, Morgan Stanley assumed coverage on shares of Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective for the company. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus 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.