NewEdge Advisors LLC Has $5.47 Million Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

NewEdge Advisors LLC lifted its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,882 shares of the industrial products company’s stock after purchasing an additional 134 shares during the period. NewEdge Advisors LLC’s holdings in Rockwell Automation were worth $5,473,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Ascent Group LLC raised its holdings in Rockwell Automation by 23.6% during the second quarter. Ascent Group LLC now owns 3,285 shares of the industrial products company’s stock valued at $904,000 after buying an additional 627 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Rockwell Automation in the 2nd quarter valued at approximately $1,349,000. The Manufacturers Life Insurance Company boosted its position in Rockwell Automation by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 70,288 shares of the industrial products company’s stock worth $19,345,000 after purchasing an additional 284 shares during the period. MBB Public Markets I LLC acquired a new position in Rockwell Automation during the second quarter valued at approximately $2,330,000. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Rockwell Automation by 197.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 386,425 shares of the industrial products company’s stock valued at $106,375,000 after purchasing an additional 256,553 shares during the period. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Price Performance

Shares of Rockwell Automation stock opened at $265.26 on Wednesday. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month 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 has a market cap of $30.24 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 4.64 and a beta of 1.37. The firm’s 50-day simple moving average is $263.21 and its 200-day simple moving average is $268.84.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.63. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company posted $3.01 EPS. As a group, research analysts expect that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation declared that its Board of Directors has initiated a share buyback 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 shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

ROK has been the subject of several recent analyst reports. Morgan Stanley initiated coverage on shares of Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective for the company. TD Cowen lowered their price target on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. decreased their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Oppenheimer dropped their price target on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. 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 investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $282.80.

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.