Bleakley Financial Group LLC Sells 87 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Bleakley Financial Group LLC trimmed its position in Rockwell Automation, Inc. (NYSE:ROK) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,171 shares of the industrial products company’s stock after selling 87 shares during the period. Bleakley Financial Group LLC’s holdings in Rockwell Automation were worth $851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Pathway Financial Advisers LLC purchased a new position in shares of Rockwell Automation during the 1st quarter worth $26,000. Riverview Trust Co bought a new stake in Rockwell Automation during the first quarter valued at about $28,000. ESL Trust Services LLC purchased a new stake in Rockwell Automation in the first quarter worth about $29,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Rockwell Automation in the second quarter worth about $36,000. Finally, Webster Bank N. A. purchased a new position in shares of Rockwell Automation during the 1st quarter valued at about $44,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Trading Up 0.1 %

Shares of NYSE ROK opened at $272.82 on Monday. The stock has a market capitalization of $31.10 billion, a P/E ratio of 26.67, a PEG ratio of 4.64 and a beta of 1.36. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76. The business’s 50 day moving average is $264.95 and its two-hundred day moving average is $267.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68.

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

Rockwell Automation announced that its Board of Directors has authorized a stock repurchase 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 usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on ROK. Redburn Atlantic started coverage on shares of Rockwell Automation in a research note on Monday, July 8th. They set a “neutral” rating and a $256.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. cut their price target on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Morgan Stanley began coverage on Rockwell Automation in a research report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price objective on the stock. Finally, Oppenheimer increased their target price on Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Rockwell Automation presently has a consensus rating of “Hold” and a consensus price target of $286.47.

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.