First United Bank & Trust Has $26,000 Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

First United Bank & Trust lessened its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 96.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96 shares of the industrial products company’s stock after selling 2,356 shares during the period. First United Bank & Trust’s holdings in Rockwell Automation were worth $26,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Cabot Wealth Management Inc. lifted its position in shares of Rockwell Automation by 1.2% in the 3rd quarter. Cabot Wealth Management Inc. now owns 45,809 shares of the industrial products company’s stock valued at $12,298,000 after acquiring an additional 555 shares in the last quarter. Creative Planning lifted its holdings in shares of Rockwell Automation by 3.2% in the third quarter. Creative Planning now owns 25,927 shares of the industrial products company’s stock valued at $6,960,000 after purchasing an additional 807 shares in the last quarter. Fiduciary Alliance LLC acquired a new stake in shares of Rockwell Automation in the third quarter worth $234,000. InTrack Investment Management Inc grew its holdings in shares of Rockwell Automation by 23.3% during the third quarter. InTrack Investment Management Inc now owns 2,663 shares of the industrial products company’s stock valued at $715,000 after buying an additional 504 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new position in Rockwell Automation during the third quarter valued at $214,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Stock Up 0.8 %

Shares of ROK stock opened at $274.36 on Thursday. The company has a market capitalization of $31.28 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 4.64 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. The stock’s 50 day simple moving average is $264.38 and its 200 day simple moving average is $267.71. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76.

Rockwell Automation (NYSE:ROK) last released its quarterly 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. 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 for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm posted $3.01 earnings per share. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, research analysts predict that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

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

Analyst Ratings Changes

A number of equities research analysts have commented on ROK shares. Barclays decreased their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Robert W. Baird dropped their price objective on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company lifted their target price on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Morgan Stanley initiated coverage on shares of Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 price target on the stock. Finally, Bank of America reduced their price objective on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Rockwell Automation presently has a consensus rating of “Hold” and a consensus price target of $284.80.

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.