Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Bill Few Associates Inc.

Bill Few Associates Inc. cut its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 13,677 shares of the industrial products company’s stock after selling 270 shares during the quarter. Rockwell Automation accounts for 1.3% of Bill Few Associates Inc.’s portfolio, making the stock its 22nd largest position. Bill Few Associates Inc.’s holdings in Rockwell Automation were worth $3,672,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norden Group LLC acquired a new position in shares of Rockwell Automation during the 1st quarter valued at $2,003,000. SG Americas Securities LLC grew its holdings 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 acquiring an additional 9,596 shares during the last quarter. Comerica Bank grew its holdings 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 acquiring an additional 3,425 shares during the last quarter. Magnetar Financial LLC acquired a new position in shares of Rockwell Automation in the 1st quarter worth $2,817,000. Finally, TimesSquare Capital Management LLC grew its holdings in shares of Rockwell Automation by 5.0% in the 1st quarter. TimesSquare Capital Management LLC now owns 203,830 shares of the industrial products company’s stock worth $59,382,000 after acquiring an additional 9,645 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Oppenheimer lifted their target price on Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday. JPMorgan Chase & Co. decreased their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Redburn Atlantic assumed coverage on Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price on the stock. Robert W. Baird decreased their target price on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Barclays decreased their target price on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $284.80.

Rockwell Automation Price Performance

ROK opened at $272.31 on Wednesday. The stock has a market cap of $31.04 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 4.64 and a beta of 1.36. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. The stock has a fifty day moving average price of $263.89 and a 200 day moving average price of $267.67.

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, beating analysts’ consensus estimates 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 business’s revenue for the quarter 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 forecast that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation announced that its Board of Directors has authorized a share 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 buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Rockwell Automation 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.