Lmcg Investments LLC Cuts Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

Lmcg Investments LLC lowered its position in Rockwell Automation, Inc. (NYSE:ROK) by 0.6% in the second quarter, Holdings Channel.com reports. The firm owned 47,066 shares of the industrial products company’s stock after selling 306 shares during the quarter. Lmcg Investments LLC’s holdings in Rockwell Automation were worth $12,956,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. boosted its stake in shares of Rockwell Automation by 17.5% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 248 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 37 shares in the last quarter. CreativeOne Wealth LLC grew its stake in Rockwell Automation by 3.0% in the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock valued at $372,000 after acquiring an additional 37 shares during the last quarter. Mather Group LLC. increased its holdings in Rockwell Automation by 5.9% during the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock valued at $198,000 after acquiring an additional 38 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of Rockwell Automation by 5.9% in the first quarter. Lindbrook Capital LLC now owns 749 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 42 shares during the last quarter. Finally, Pure Financial Advisors LLC increased its stake in shares of Rockwell Automation by 2.7% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock worth $444,000 after purchasing an additional 42 shares in the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ROK. Bank of America cut their price target on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company decreased their price target on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Oppenheimer decreased their target price on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley assumed coverage on Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price objective on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Rockwell Automation currently has an average rating of “Hold” and an average target price of $282.80.

Rockwell Automation Stock Down 0.3 %

Shares of NYSE:ROK opened at $262.08 on Tuesday. The stock has a 50-day simple moving average of $265.79 and a 200-day simple moving average of $270.57. The stock has a market capitalization of $29.88 billion, a P/E ratio of 25.62, a PEG ratio of 4.57 and a beta of 1.37. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year 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.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data 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 quarter in the prior year, the business earned $3.01 earnings per share. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. Equities analysts forecast that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

Rockwell Automation declared that its board 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 reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is 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.