Hsbc Holdings PLC Has $50.41 Million Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Hsbc Holdings PLC lessened its position in Rockwell Automation, Inc. (NYSE:ROK) by 32.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 183,314 shares of the industrial products company’s stock after selling 86,612 shares during the quarter. Hsbc Holdings PLC owned approximately 0.16% of Rockwell Automation worth $50,408,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new stake in shares of Rockwell Automation in the first quarter valued at $26,000. Riverview Trust Co acquired a new position in Rockwell Automation during the first quarter valued at $28,000. ESL Trust Services LLC purchased a new stake in Rockwell Automation in the 1st quarter worth about $29,000. Security National Bank purchased a new stake in Rockwell Automation in the 4th quarter worth about $40,000. Finally, Cooksen Wealth LLC acquired a new stake in Rockwell Automation during the 4th quarter worth about $40,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Automation Trading Down 2.5 %

NYSE:ROK opened at $261.58 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 company’s 50 day moving average is $265.23 and its 200-day moving average is $270.14. The firm has a market cap 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, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76.

Rockwell Automation (NYSE:ROK) last announced its earnings results 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. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm posted $3.01 EPS. The business’s quarterly revenue was down 8.4% on a year-over-year basis. Equities analysts anticipate that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Redburn Atlantic assumed coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They issued a “neutral” rating and a $256.00 price target for the company. Wells Fargo & Company cut their target price on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Bank of America lowered their price target on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Morgan Stanley began coverage on Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.