King Luther Capital Management Corp Has $126.73 Million Stake in Rockwell Automation, Inc. (NYSE:ROK)

King Luther Capital Management Corp reduced its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 5.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 460,378 shares of the industrial products company’s stock after selling 29,039 shares during the quarter. King Luther Capital Management Corp owned 0.40% of Rockwell Automation worth $126,733,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norden Group LLC acquired a new stake in Rockwell Automation during the 1st quarter worth approximately $2,003,000. SG Americas Securities LLC raised its holdings in shares of Rockwell Automation by 186.9% during the first quarter. SG Americas Securities LLC now owns 14,731 shares of the industrial products company’s stock worth $4,292,000 after acquiring an additional 9,596 shares during the period. Comerica Bank lifted its position in Rockwell Automation by 6.1% in the 1st quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock valued at $17,485,000 after acquiring an additional 3,425 shares in the last quarter. Mairs & Power Inc. boosted its stake in Rockwell Automation by 2.4% in the 4th quarter. Mairs & Power Inc. now owns 384,684 shares of the industrial products company’s stock worth $119,437,000 after purchasing an additional 9,132 shares during the period. Finally, Commerce Bank increased its holdings in Rockwell Automation by 24.9% during the 4th quarter. Commerce Bank now owns 65,248 shares of the industrial products company’s stock worth $20,258,000 after purchasing an additional 13,018 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. 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 report on Thursday, August 8th. Redburn Atlantic initiated coverage on Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 price target for the company. Wells Fargo & Company lowered their price objective on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Barclays reduced their target price on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Finally, Morgan Stanley assumed coverage on shares of Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 price target on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Rockwell Automation presently has an average rating of “Hold” and a consensus price target of $282.80.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $268.30 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average price is $265.67 and its two-hundred day moving average price is $270.32. The company has a market cap of $30.59 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 4.57 and a beta of 1.37. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76.

Rockwell Automation (NYSE:ROK) last posted its 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 business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the firm earned $3.01 EPS. The firm’s revenue was down 8.4% compared to the same quarter last year. On average, analysts predict that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

Rockwell Automation declared that its Board of Directors has approved a share 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 reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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.