Skandinaviska Enskilda Banken AB publ Grows Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,605 shares of the industrial products company’s stock after buying an additional 202 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Rockwell Automation were worth $6,498,000 at the end of the most recent quarter.

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

Rockwell Automation Stock Down 2.5 %

Shares of NYSE:ROK opened at $261.60 on Monday. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. The firm has a market cap 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 fifty day simple moving average of $265.23 and a 200 day simple moving average of $269.87.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (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 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 prior year, the business posted $3.01 EPS. On average, equities research analysts anticipate that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation declared that its board has initiated a share buyback program 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 repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have weighed in on ROK. Redburn Atlantic assumed coverage on shares of Rockwell Automation in a research note on Monday, July 8th. They set a “neutral” rating and a $256.00 price target on the stock. Robert W. Baird dropped their price target on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Barclays dropped their target price on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Wells Fargo & Company cut their target price on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, Oppenheimer decreased their price target on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus 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.