Benjamin Edwards Inc. Acquires 153 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Benjamin Edwards Inc. grew its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 12,347 shares of the industrial products company’s stock after acquiring an additional 153 shares during the period. Benjamin Edwards Inc.’s holdings in Rockwell Automation were worth $3,399,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ROK. Pathway Financial Advisers LLC acquired a new stake in shares of Rockwell Automation during the first quarter worth $26,000. Riverview Trust Co acquired a new stake in Rockwell Automation in the first quarter worth $28,000. ESL Trust Services LLC acquired a new stake in Rockwell Automation in the first quarter worth $29,000. Security National Bank acquired a new stake in Rockwell Automation in the fourth quarter worth $40,000. Finally, Cooksen Wealth LLC acquired a new stake in Rockwell Automation in the fourth quarter worth $40,000. Institutional investors own 75.75% of the company’s stock.

Wall Street Analysts Forecast Growth

ROK has been the subject of a number of research reports. Morgan Stanley initiated coverage on shares of Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price target for the company. Wells Fargo & Company reduced their price target on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. TD Cowen reduced their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Robert W. Baird reduced their price objective on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Barclays reduced their price objective 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. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation presently has a consensus rating of “Hold” and a consensus target price of $282.80.

Rockwell Automation Stock Up 2.1 %

ROK opened at $268.30 on Friday. 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 company’s 50-day moving average is $265.67 and its 200 day moving average is $270.32. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $312.76. The firm has a market capitalization of $30.59 billion, a P/E ratio of 26.23, a PEG ratio of 4.57 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.08 by $0.63. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.01 earnings per share. Research analysts expect 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 approved a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.