Claro Advisors LLC Raises Position in Rockwell Automation, Inc. (NYSE:ROK)

Claro Advisors LLC increased its stake in Rockwell Automation, Inc. (NYSE:ROK) by 145.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,153 shares of the industrial products company’s stock after acquiring an additional 2,461 shares during the period. Claro Advisors LLC’s holdings in Rockwell Automation were worth $1,014,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Pathway Financial Advisers LLC purchased a new stake in shares of Rockwell Automation in the first quarter worth about $26,000. Riverview Trust Co acquired a new stake in shares of Rockwell Automation during the first quarter worth $28,000. ESL Trust Services LLC bought a new position in Rockwell Automation in the first quarter worth about $29,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Rockwell Automation in the 2nd quarter worth approximately $36,000. Finally, Webster Bank N. A. acquired a new position in shares of Rockwell Automation during the first quarter valued at $44,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Trading Up 0.1 %

Rockwell Automation stock opened at $272.82 on Friday. 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 has a market capitalization of $31.10 billion, a P/E ratio of 26.67, a PEG ratio of 4.64 and a beta of 1.36. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $312.76. The stock has a 50-day simple moving average of $264.95 and a 200 day simple moving average of $267.67.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.63. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate 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 was down 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.01 earnings per share. Analysts expect that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

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

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Oppenheimer boosted their price target on Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. reduced their target price on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Redburn Atlantic began coverage on Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 target price for the company. Bank of America lifted their price target on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday. Finally, 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. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued 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 target price of $286.47.

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.