Kwmg LLC Boosts Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

Kwmg LLC raised its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,620 shares of the industrial products company’s stock after buying an additional 415 shares during the quarter. Kwmg LLC’s holdings in Rockwell Automation were worth $5,536,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new stake in Rockwell Automation in the first quarter valued at $26,000. Riverview Trust Co bought a new stake in shares of Rockwell Automation during the 1st quarter valued at about $28,000. ESL Trust Services LLC purchased a new position in shares of Rockwell Automation during the first quarter valued at about $29,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Rockwell Automation during the second quarter valued at about $36,000. Finally, Security National Bank bought a new position in Rockwell Automation in the fourth quarter worth about $40,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. 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. Redburn Atlantic began coverage on Rockwell Automation in a research report on Monday, July 8th. They issued a “neutral” rating and a $256.00 price target on the stock. Oppenheimer lowered their price objective on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. TD Cowen lowered their price target on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Finally, Wells Fargo & Company cut their price objective on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $282.80.

Rockwell Automation Stock Performance

NYSE:ROK traded up $0.21 on Monday, hitting $267.22. The stock had a trading volume of 367,686 shares, compared to its average volume of 903,354. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The stock has a market cap of $30.46 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 4.64 and a beta of 1.36. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The business’s 50-day simple moving average is $262.95 and its two-hundred day simple moving average is $268.56.

Rockwell Automation (NYSE:ROK) last announced its 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. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The firm’s revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.01 earnings per share. As a group, research analysts predict that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

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

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.