Integrated Advisors Network LLC Sells 105 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Integrated Advisors Network LLC decreased its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,424 shares of the industrial products company’s stock after selling 105 shares during the quarter. Integrated Advisors Network LLC’s holdings in Rockwell Automation were worth $919,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CreativeOne Wealth LLC grew its holdings in Rockwell Automation by 3.0% during the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock worth $372,000 after acquiring an additional 37 shares during the period. Mather Group LLC. grew its holdings in Rockwell Automation by 5.9% during the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 38 shares during the period. Pure Financial Advisors LLC grew its holdings in Rockwell Automation by 2.7% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock worth $444,000 after acquiring an additional 42 shares during the period. Pitcairn Co. grew its holdings in Rockwell Automation by 4.2% during the 1st quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company’s stock worth $319,000 after acquiring an additional 44 shares during the period. Finally, Hancock Whitney Corp grew its holdings in Rockwell Automation by 2.5% during the 1st quarter. Hancock Whitney Corp now owns 1,805 shares of the industrial products company’s stock worth $526,000 after acquiring an additional 44 shares during the period. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Price Performance

ROK stock opened at $266.61 on Thursday. The company has a market capitalization of $30.25 billion, a P/E ratio of 30.30, a price-to-earnings-growth ratio of 4.70 and a beta of 1.36. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The business has a 50-day simple moving average of $265.99 and a two-hundred day simple moving average of $266.81.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.03 billion. During the same quarter last year, the firm earned $3.01 EPS. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. Research analysts expect that Rockwell Automation, Inc. will post 9.65 EPS for the current fiscal year.

Rockwell Automation declared that its board has approved a stock buyback program on Thursday, September 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ROK. Barclays decreased their price target on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Redburn Atlantic began coverage on Rockwell Automation in a research note on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price for the company. TD Cowen reduced their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Bank of America raised their target price on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird reduced their target price 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. 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 has an average rating of “Hold” and an average target price 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.