Czech National Bank Has $6.21 Million Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Czech National Bank lifted its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,114 shares of the industrial products company’s stock after purchasing an additional 1,389 shares during the period. Czech National Bank’s holdings in Rockwell Automation were worth $6,205,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Pathway Financial Advisers LLC acquired a new position in Rockwell Automation during the 1st quarter worth $26,000. Riverview Trust Co bought a new stake in shares of Rockwell Automation during the first quarter worth $28,000. ESL Trust Services LLC bought a new stake in shares of Rockwell Automation during the first quarter worth $29,000. Strategic Investment Solutions Inc. IL bought a new position in Rockwell Automation in the second quarter valued at about $36,000. Finally, Cooksen Wealth LLC acquired a new stake in Rockwell Automation in the fourth quarter worth about $40,000. 75.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ROK shares. Barclays reduced their target price on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Bank of America lowered their target price on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Robert W. Baird reduced their price target on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company upped their price objective on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday. Finally, JPMorgan Chase & Co. reduced their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation presently has a consensus rating of “Hold” and an average price target of $283.60.

Rockwell Automation Price Performance

NYSE:ROK opened at $268.15 on Friday. 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 firm’s 50-day simple moving average is $262.49 and its 200 day simple moving average is $268.27. The firm has a market cap of $30.57 billion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 4.64 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last announced 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. The company had revenue of $2.05 billion for 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 business’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the firm earned $3.01 earnings per share. As a group, sell-side analysts predict that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

Rockwell Automation announced that its board has authorized a share repurchase plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in 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 often an indication that the company’s board believes its stock is undervalued.

Rockwell Automation 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.