Ieq Capital LLC Decreases Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

Ieq Capital LLC lessened its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,647 shares of the industrial products company’s stock after selling 56 shares during the period. Ieq Capital LLC’s holdings in Rockwell Automation were worth $4,858,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ROK. Hazlett Burt & Watson Inc. boosted its position in Rockwell Automation by 17.5% during the first quarter. Hazlett Burt & Watson Inc. now owns 248 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 37 shares during the period. CreativeOne Wealth LLC boosted its holdings in Rockwell Automation by 3.0% in the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock worth $372,000 after buying an additional 37 shares during the period. Mather Group LLC. grew its stake in Rockwell Automation by 5.9% in the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock valued at $198,000 after buying an additional 38 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Rockwell Automation by 5.9% during the 1st quarter. Lindbrook Capital LLC now owns 749 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 42 shares during the period. Finally, Pure Financial Advisors LLC lifted its position in shares of Rockwell Automation by 2.7% during the second quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock worth $444,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

Wall Street Analysts Forecast Growth

ROK has been the subject of several recent research reports. Robert W. Baird reduced their price target on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Bank of America decreased their price target on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company cut their price objective 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. Redburn Atlantic started coverage on shares of Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 target price on the stock. Finally, Oppenheimer cut their price target on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation has an average rating of “Hold” and a consensus price target of $282.80.

Rockwell Automation Price Performance

Shares of Rockwell Automation stock opened at $261.58 on Friday. The firm has a market capitalization of $29.82 billion, a PE ratio of 25.57, a price-to-earnings-growth 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 12 month low of $242.81 and a 12 month high of $312.76. The business’s 50-day moving average price is $265.23 and its 200-day moving average price is $270.14.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.63. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the business earned $3.01 earnings per share. Sell-side analysts forecast that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation declared that its Board of Directors has initiated a share buyback plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management 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.