Nisa Investment Advisors LLC Sells 367 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Nisa Investment Advisors LLC decreased its position in Rockwell Automation, Inc. (NYSE:ROK) by 1.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 28,605 shares of the industrial products company’s stock after selling 367 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Rockwell Automation were worth $7,679,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Smithbridge Asset Management Inc. DE increased its position in shares of Rockwell Automation by 10.2% during the 3rd quarter. Smithbridge Asset Management Inc. DE now owns 11,816 shares of the industrial products company’s stock worth $3,172,000 after purchasing an additional 1,096 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. increased its position in shares of Rockwell Automation by 4.8% during the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,563 shares of the industrial products company’s stock worth $1,225,000 after purchasing an additional 210 shares during the last quarter. L. Roy Papp & Associates LLP increased its position in shares of Rockwell Automation by 3.9% during the 3rd quarter. L. Roy Papp & Associates LLP now owns 17,398 shares of the industrial products company’s stock worth $4,671,000 after purchasing an additional 645 shares during the last quarter. Richardson Financial Services Inc. increased its position in shares of Rockwell Automation by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 48 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Rockwell Automation by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 13,764 shares of the industrial products company’s stock worth $3,694,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.

Analyst Upgrades and Downgrades

ROK has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price target on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Bank of America boosted their price target on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. decreased 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. Morgan Stanley initiated coverage on Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 target price on the stock. Finally, Mizuho boosted their target price on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $286.47.

Rockwell Automation Stock Performance

Shares of NYSE ROK opened at $266.61 on Thursday. 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 stock’s fifty day moving average price is $265.99 and its two-hundred day moving average price is $266.81. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76. The firm has a market cap of $30.25 billion, a price-to-earnings ratio of 30.30, a P/E/G ratio of 4.70 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data 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. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the firm posted $3.01 EPS. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, equities analysts forecast that Rockwell Automation, Inc. will post 9.65 EPS 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 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.