Telos Capital Management Inc. Acquires 933 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Telos Capital Management Inc. boosted its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 4.6% in the third quarter, Holdings Channel reports. The firm owned 21,310 shares of the industrial products company’s stock after purchasing an additional 933 shares during the quarter. Telos Capital Management Inc.’s holdings in Rockwell Automation were worth $5,721,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in shares of Rockwell Automation in the 1st quarter worth approximately $26,000. Riverview Trust Co bought a new stake in Rockwell Automation in the first quarter valued at $28,000. ESL Trust Services LLC acquired a new position in Rockwell Automation during the first quarter worth $29,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Rockwell Automation during the second quarter valued at $36,000. Finally, Webster Bank N. A. acquired a new stake in shares of Rockwell Automation in the 1st quarter valued at $44,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROK has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Morgan Stanley assumed 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. Robert W. Baird reduced their target price on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Oppenheimer raised their price target on Rockwell Automation from $270.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Barclays reduced their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Three 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $286.47.

Rockwell Automation Stock Performance

Shares of NYSE:ROK opened at $269.94 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76. The stock has a market capitalization of $30.77 billion, a P/E ratio of 26.39, a P/E/G ratio of 4.64 and a beta of 1.36. The business has a 50-day moving average price of $265.29 and a two-hundred day moving average price of $267.46.

Rockwell Automation (NYSE:ROK) last posted its quarterly 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. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm posted $3.01 earnings per share. Rockwell Automation’s revenue for the quarter was down 8.4% compared to the same quarter last year. Equities analysts predict that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

Rockwell Automation announced that its Board of Directors has approved a share repurchase program 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 programs are usually an indication that the company’s leadership believes its shares are undervalued.

About Rockwell Automation

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.