MBB Public Markets I LLC Invests $2.33 Million in Rockwell Automation, Inc. (NYSE:ROK)

MBB Public Markets I LLC purchased a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK) in the second quarter, HoldingsChannel.com reports. The firm purchased 8,465 shares of the industrial products company’s stock, valued at approximately $2,330,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROK. Price T Rowe Associates Inc. MD grew its stake in shares of Rockwell Automation by 951.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock valued at $1,611,915,000 after acquiring an additional 5,006,706 shares in the last quarter. Van ECK Associates Corp grew its stake in Rockwell Automation by 1,119.3% during the 2nd quarter. Van ECK Associates Corp now owns 763,351 shares of the industrial products company’s stock valued at $210,135,000 after purchasing an additional 700,745 shares in the last quarter. Vanguard Group Inc. increased its holdings in Rockwell Automation by 3.2% during the 1st 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. Swedbank AB acquired a new position in shares of Rockwell Automation in the 1st quarter valued at approximately $118,345,000. Finally, Champlain Investment Partners LLC boosted its stake in shares of Rockwell Automation by 82.4% during the 1st quarter. Champlain Investment Partners LLC now owns 859,717 shares of the industrial products company’s stock valued at $250,461,000 after buying an additional 388,400 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Oppenheimer reduced their price objective on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. TD Cowen reduced their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company lowered their price objective on Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Redburn Atlantic initiated coverage on Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $282.80.

Rockwell Automation Trading Down 0.2 %

Rockwell Automation stock opened at $270.61 on Friday. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $30.85 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 4.64 and a beta of 1.37. The firm has a 50-day moving average price of $263.49 and a two-hundred day moving average price of $269.14.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.63. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company posted $3.01 EPS. Sell-side analysts expect that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

Rockwell Automation declared that its Board of Directors has initiated a share buyback plan on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership 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.