Clarius Group LLC Lowers Stake in Rockwell Automation, Inc. (NYSE:ROK)

Clarius Group LLC decreased its position in Rockwell Automation, Inc. (NYSE:ROK) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,276 shares of the industrial products company’s stock after selling 38 shares during the quarter. Clarius Group LLC’s holdings in Rockwell Automation were worth $343,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Boston Common Asset Management LLC raised its holdings in shares of Rockwell Automation by 3.5% in the 3rd quarter. Boston Common Asset Management LLC now owns 17,680 shares of the industrial products company’s stock valued at $4,746,000 after buying an additional 592 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its position in shares of Rockwell Automation by 11.5% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,130 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 117 shares in the last quarter. Talbot Financial LLC purchased a new position in shares of Rockwell Automation in the third quarter valued at approximately $6,929,000. Tealwood Asset Management Inc. acquired a new position in shares of Rockwell Automation in the third quarter valued at approximately $301,000. Finally, Kwmg LLC increased its stake in Rockwell Automation by 2.1% during the 3rd quarter. Kwmg LLC now owns 20,620 shares of the industrial products company’s stock worth $5,536,000 after buying an additional 415 shares during the period. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ROK shares. Redburn Atlantic began coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They issued a “neutral” rating and a $256.00 price target for the company. TD Cowen lowered their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Barclays reduced their price target on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Morgan Stanley initiated coverage on Rockwell Automation in a research report on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective for the company. Finally, Bank of America cut their target price on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Rockwell Automation presently has a consensus rating of “Hold” and a consensus target price of $283.60.

Rockwell Automation Stock Performance

Shares of Rockwell Automation stock opened at $271.16 on Friday. The firm has a market capitalization of $30.77 billion, a P/E ratio of 30.81, a P/E/G ratio of 4.64 and a beta of 1.36. 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’s 50 day moving average is $262.91 and its two-hundred day moving average is $268.07.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS 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 analyst estimates of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The firm’s revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.01 earnings per share. Research analysts forecast that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation announced that its board has authorized a stock buyback plan on Thursday, September 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are 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.