Integrated Advisors Network LLC Sells 105 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Integrated Advisors Network LLC lessened its stake in Rockwell Automation, Inc. (NYSE:ROK) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,424 shares of the industrial products company’s stock after selling 105 shares during the quarter. Integrated Advisors Network LLC’s holdings in Rockwell Automation were worth $919,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ROK. Norden Group LLC bought a new stake in shares of Rockwell Automation in the 1st quarter worth approximately $2,003,000. First Trust Direct Indexing L.P. raised its holdings in shares of Rockwell Automation by 4.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,549 shares of the industrial products company’s stock worth $1,034,000 after purchasing an additional 139 shares during the period. Marshall Financial Group LLC raised its holdings in shares of Rockwell Automation by 12.7% in the 1st quarter. Marshall Financial Group LLC now owns 3,003 shares of the industrial products company’s stock worth $875,000 after purchasing an additional 338 shares during the period. Everett Harris & Co. CA purchased a new position in Rockwell Automation in the 1st quarter valued at approximately $204,000. Finally, J.W. Cole Advisors Inc. grew its stake in Rockwell Automation by 7.1% in the 1st quarter. J.W. Cole Advisors Inc. now owns 2,119 shares of the industrial products company’s stock valued at $617,000 after buying an additional 141 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. TD Cowen reduced their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Mizuho lifted their price objective on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays reduced their price objective on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Redburn Atlantic assumed coverage on shares of Rockwell Automation in a research note on Monday, July 8th. They issued a “neutral” rating and a $256.00 price objective for the company. Finally, 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 objective for the company. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $286.47.

Rockwell Automation Stock Down 0.7 %

Shares of NYSE:ROK opened at $266.61 on Thursday. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The firm has a fifty day moving average of $265.99 and a 200 day moving average of $266.81. The firm has a market capitalization of $30.25 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 4.70 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.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business earned $3.01 earnings per share. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, research analysts anticipate that Rockwell Automation, Inc. will post 9.65 EPS for the current fiscal year.

Rockwell Automation declared that its Board of Directors has initiated a stock repurchase 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are 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.