Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. lessened its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 6.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 9,349 shares of the industrial products company’s stock after selling 698 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Rockwell Automation were worth $2,574,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ROK. TrinityPoint Wealth LLC boosted its stake in Rockwell Automation by 10.9% in the 4th quarter. TrinityPoint Wealth LLC now owns 959 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 94 shares during the period. Norges Bank acquired a new position in Rockwell Automation during the fourth quarter worth $15,110,000. Quest Partners LLC acquired a new position in Rockwell Automation during the fourth quarter worth $213,000. Assetmark Inc. increased its position in Rockwell Automation by 20.5% during the fourth quarter. Assetmark Inc. now owns 582 shares of the industrial products company’s stock worth $181,000 after buying an additional 99 shares during the last quarter. Finally, FineMark National Bank & Trust increased its stake in shares of Rockwell Automation by 5.4% in the fourth quarter. FineMark National Bank & Trust now owns 894 shares of the industrial products company’s stock worth $278,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

Rockwell Automation stock opened at $261.60 on Monday. The firm’s 50 day simple moving average is $265.23 and its 200 day simple moving average is $269.87. 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 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. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76.

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, topping analysts’ consensus estimates 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 analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm earned $3.01 EPS. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, analysts expect that Rockwell Automation, Inc. will post 9.67 earnings per share for the current fiscal year.

Rockwell Automation announced that its board has approved a stock buyback program on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ROK shares. TD Cowen lowered their price target on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Barclays reduced their target price on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Wells Fargo & Company reduced their price objective on Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Finally, Morgan Stanley started coverage on shares of Rockwell Automation in a research report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock 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.