Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Hengehold Capital Management LLC

Hengehold Capital Management LLC lessened its stake in Rockwell Automation, Inc. (NYSE:ROK) by 11.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,359 shares of the industrial products company’s stock after selling 178 shares during the period. Hengehold Capital Management LLC’s holdings in Rockwell Automation were worth $365,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Rockwell Automation by 3.2% during the first quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company’s stock worth $4,092,891,000 after purchasing an additional 438,356 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Rockwell Automation by 951.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock worth $1,611,915,000 after buying an additional 5,006,706 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Rockwell Automation by 32.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,510,019 shares of the industrial products company’s stock worth $439,912,000 after acquiring an additional 365,795 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Rockwell Automation by 6.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 955,574 shares of the industrial products company’s stock valued at $278,387,000 after acquiring an additional 54,948 shares in the last quarter. Finally, Champlain Investment Partners LLC increased its stake in shares of Rockwell Automation by 82.4% during the first quarter. Champlain Investment Partners LLC now owns 859,717 shares of the industrial products company’s stock worth $250,461,000 after acquiring an additional 388,400 shares during the period. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Trading Down 1.0 %

Shares of ROK stock opened at $271.46 on Thursday. The company has a market capitalization of $30.95 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 4.64 and a beta of 1.36. 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 firm has a 50-day moving average price of $264.38 and a 200 day moving average price of $267.71. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.63. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.01 earnings per share. Research analysts forecast that Rockwell Automation, Inc. will post 9.67 earnings per share for the current fiscal year.

Rockwell Automation announced that its Board of Directors has approved a share buyback plan on Thursday, September 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ROK shares. Wells Fargo & Company raised their price objective on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Redburn Atlantic started coverage on Rockwell Automation in a research note on Monday, July 8th. They issued a “neutral” rating and a $256.00 price target on the stock. TD Cowen dropped their price objective on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Morgan Stanley started coverage on Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 target price for the company. Finally, Bank of America decreased their price objective on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Rockwell Automation currently has a consensus rating of “Hold” and a consensus price target of $285.47.

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.