8,408 Shares in Rockwell Automation, Inc. (NYSE:ROK) Acquired by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd purchased a new position in Rockwell Automation, Inc. (NYSE:ROK) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,408 shares of the industrial products company’s stock, valued at approximately $2,315,000.

A number of other hedge funds have also recently added to or reduced their stakes in ROK. Norden Group LLC bought a new stake in Rockwell Automation during the 1st quarter valued at $2,003,000. SG Americas Securities LLC increased its position in shares of Rockwell Automation by 186.9% during the first quarter. SG Americas Securities LLC now owns 14,731 shares of the industrial products company’s stock worth $4,292,000 after acquiring an additional 9,596 shares in the last quarter. Comerica Bank raised its holdings in shares of Rockwell Automation by 6.1% in the 1st quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock worth $17,485,000 after acquiring an additional 3,425 shares during the last quarter. Mairs & Power Inc. lifted its position in Rockwell Automation by 2.4% in the 4th quarter. Mairs & Power Inc. now owns 384,684 shares of the industrial products company’s stock valued at $119,437,000 after acquiring an additional 9,132 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in Rockwell Automation during the 1st quarter valued at about $2,817,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Robert W. Baird lowered their price objective 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. Morgan Stanley initiated coverage on Rockwell Automation in a research note on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective on the stock. Oppenheimer reduced their target price on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company lowered their target price on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, Redburn Atlantic began coverage on shares of Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 price target on the stock. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $282.80.

Rockwell Automation Trading Down 0.2 %

Shares of Rockwell Automation stock opened at $261.06 on Tuesday. The stock has a market capitalization of $29.76 billion, a P/E ratio of 25.52, a P/E/G ratio of 4.57 and a beta of 1.37. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04. The stock’s 50-day simple moving average is $264.75 and its 200 day simple moving average is $269.64.

Rockwell Automation (NYSE:ROK) last announced 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. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the company posted $3.01 EPS. Rockwell Automation’s revenue was down 8.4% compared to the same quarter last year. As a group, research 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 repurchase 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s board 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.