Daiwa Securities Group Inc. Lowers Stake in Rockwell Automation, Inc. (NYSE:ROK)

Daiwa Securities Group Inc. lessened its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 5.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,593 shares of the industrial products company’s stock after selling 1,108 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Rockwell Automation were worth $5,394,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norden Group LLC bought a new position in Rockwell Automation during the 1st quarter valued at approximately $2,003,000. SG Americas Securities LLC increased its holdings in shares of Rockwell Automation by 186.9% during the first quarter. SG Americas Securities LLC now owns 14,731 shares of the industrial products company’s stock valued at $4,292,000 after acquiring an additional 9,596 shares in the last quarter. Comerica Bank raised its position 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 purchasing an additional 3,425 shares during the last quarter. Mairs & Power Inc. boosted its stake in Rockwell Automation by 2.4% in the 4th quarter. Mairs & Power Inc. now owns 384,684 shares of the industrial products company’s stock worth $119,437,000 after purchasing an additional 9,132 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Rockwell Automation by 60.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 72,138 shares of the industrial products company’s stock valued at $22,398,000 after purchasing an additional 27,216 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Trading Down 2.0 %

Shares of Rockwell Automation stock opened at $256.85 on Thursday. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76. The company’s fifty day simple moving average is $266.04 and its 200-day simple moving average is $271.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68. The stock has a market capitalization of $29.28 billion, a PE ratio of 25.11, a P/E/G ratio of 4.55 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.63. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. Rockwell Automation’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.01 earnings per share. As a group, equities analysts anticipate that Rockwell Automation, Inc. will post 9.66 earnings per share for the current year.

Rockwell Automation announced that its board has approved a share repurchase program on Thursday, September 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ROK has been the topic of several analyst reports. Morgan Stanley started coverage on shares of Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 target price on the stock. TD Cowen cut their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Barclays decreased their price target on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company dropped their price objective on Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. decreased their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $282.80.

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.