Rockwell Automation, Inc. (NYSE:ROK) Shares Purchased by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. grew its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 10.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,017 shares of the industrial products company’s stock after purchasing an additional 2,927 shares during the period. Rockwell Automation makes up about 1.4% of Sompo Asset Management Co. Ltd.’s holdings, making the stock its 17th biggest position. Sompo Asset Management Co. Ltd.’s holdings in Rockwell Automation were worth $8,538,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on ROK. 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 research note on Wednesday, July 10th. Redburn Atlantic started coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 price target for the company. Morgan Stanley started coverage on Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price target on the stock. Robert W. Baird decreased their target price on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Oppenheimer decreased their price objective on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $282.80.

Rockwell Automation Price Performance

ROK stock opened at $261.58 on Friday. The stock has a market capitalization of $29.82 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 4.57 and a beta of 1.37. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The stock’s fifty day simple moving average is $265.23 and its 200-day simple moving average is $270.14.

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

Rockwell Automation declared that its board has authorized a stock repurchase plan on Thursday, September 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is 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.