Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC lessened its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 16,569 shares of the industrial products company’s stock after selling 308 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Rockwell Automation were worth $4,448,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ROK. Norden Group LLC bought a new stake in shares of Rockwell Automation in the 1st quarter worth $2,003,000. SG Americas Securities LLC raised its stake in shares of Rockwell Automation by 186.9% in the 1st quarter. SG Americas Securities LLC now owns 14,731 shares of the industrial products company’s stock worth $4,292,000 after buying an additional 9,596 shares in the last quarter. Comerica Bank raised its stake in shares of Rockwell Automation by 6.1% in the 1st quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock worth $17,485,000 after buying an additional 3,425 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Rockwell Automation during the first quarter worth $2,817,000. Finally, TimesSquare Capital Management LLC raised its position in shares of Rockwell Automation by 5.0% during the first quarter. TimesSquare Capital Management LLC now owns 203,830 shares of the industrial products company’s stock worth $59,382,000 after purchasing an additional 9,645 shares during the period. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Trading Up 0.1 %

Rockwell Automation stock opened at $272.82 on Friday. The business has a 50 day moving average price of $264.95 and a two-hundred day moving average price of $267.67. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The stock has a market cap of $31.10 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 4.64 and a beta of 1.36. Rockwell Automation, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.08 by $0.63. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.01 EPS. As a group, equities analysts forecast that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

Rockwell Automation declared that its Board of Directors has initiated a share buyback program on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ROK. Wells Fargo & Company boosted their target price on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. cut their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Bank of America boosted their target price on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley started coverage on Rockwell Automation in a research report on Friday, September 6th. They set an “overweight” rating and a $320.00 target price on the stock. Finally, Barclays dropped their price target on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $286.47.

About Rockwell Automation

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.