Evergreen Capital Management LLC Sells 302 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Evergreen Capital Management LLC lowered its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 11.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,253 shares of the industrial products company’s stock after selling 302 shares during the period. Evergreen Capital Management LLC’s holdings in Rockwell Automation were worth $620,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Rockwell Automation by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company’s stock worth $4,092,891,000 after buying an additional 438,356 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Rockwell Automation by 951.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock worth $1,611,915,000 after purchasing an additional 5,006,706 shares during the period. Lazard Asset Management LLC lifted its holdings in Rockwell Automation by 32.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,510,019 shares of the industrial products company’s stock worth $439,912,000 after purchasing an additional 365,795 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Rockwell Automation by 6.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 955,574 shares of the industrial products company’s stock valued at $278,387,000 after purchasing an additional 54,948 shares during the period. Finally, Champlain Investment Partners LLC grew its holdings in Rockwell Automation by 82.4% in the 1st quarter. Champlain Investment Partners LLC now owns 859,717 shares of the industrial products company’s stock valued at $250,461,000 after buying an additional 388,400 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ROK shares. Redburn Atlantic began coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price for the company. Barclays cut their price objective on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. lowered their target price on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. TD Cowen reduced their price target on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Finally, Robert W. Baird dropped their price objective on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $282.80.

Rockwell Automation Price Performance

ROK stock opened at $258.04 on Thursday. The stock has a market cap of $29.28 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 4.64 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68. The company has a 50 day simple moving average of $264.10 and a 200 day simple moving average of $269.41. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (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 company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the business earned $3.01 earnings per share. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. Research analysts anticipate that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation announced that its Board of Directors has approved a share buyback plan 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 repurchase up to 3.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management 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.