Rockwell Automation, Inc. (NYSE:ROK) Stock Position Lessened by Waters Parkerson & CO. LLC

Waters Parkerson & CO. LLC trimmed its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 164,505 shares of the industrial products company’s stock after selling 533 shares during the period. Rockwell Automation makes up approximately 2.4% of Waters Parkerson & CO. LLC’s investment portfolio, making the stock its 13th largest holding. Waters Parkerson & CO. LLC owned 0.14% of Rockwell Automation worth $45,285,000 as of its most recent filing with the SEC.

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

Rockwell Automation Stock Performance

Shares of ROK stock opened at $268.30 on Friday. The stock’s fifty day simple moving average is $265.67 and its 200-day simple moving average is $270.32. The company has a market capitalization of $30.59 billion, a price-to-earnings ratio of 26.23, a P/E/G ratio of 4.57 and a beta of 1.37. 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.

Rockwell Automation (NYSE:ROK) last released its 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. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.01 EPS. On average, sell-side analysts predict that Rockwell Automation, Inc. will post 9.67 earnings per share for the current fiscal year.

Rockwell Automation announced that its Board of Directors has initiated a share repurchase plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ROK shares. JPMorgan Chase & Co. decreased their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. TD Cowen lowered their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company dropped their target price 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, Bank of America dropped their price target on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.