SRN Advisors LLC Sells 133 Shares of Rockwell Automation, Inc. (NYSE:ROK)

SRN Advisors LLC trimmed its stake in Rockwell Automation, Inc. (NYSE:ROK) by 4.2% during the 3rd quarter, Holdings Channel reports. The firm owned 3,045 shares of the industrial products company’s stock after selling 133 shares during the quarter. SRN Advisors LLC’s holdings in Rockwell Automation were worth $817,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pathway Financial Advisers LLC bought a new position in shares of Rockwell Automation in the 1st quarter worth $26,000. ESL Trust Services LLC purchased a new position in Rockwell Automation in the first quarter worth $29,000. Strategic Investment Solutions Inc. IL bought a new position in Rockwell Automation in the second quarter valued at $36,000. Webster Bank N. A. purchased a new stake in Rockwell Automation during the first quarter valued at about $44,000. Finally, Cultivar Capital Inc. purchased a new stake in Rockwell Automation during the second quarter valued at about $46,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Stock Up 0.8 %

NYSE ROK opened at $269.86 on Friday. 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 $30.76 billion, a PE ratio of 26.38, a PEG ratio of 4.68 and a beta of 1.36. 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 business’s 50-day moving average is $265.79 and its 200 day moving average is $267.16.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data 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. The firm had revenue of $2.05 billion for 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 quarterly revenue was down 8.4% compared to the same quarter last year. During the same period last year, the company earned $3.01 EPS. Sell-side analysts forecast that Rockwell Automation, Inc. will post 9.65 earnings per share for the current year.

Rockwell Automation declared that its Board of Directors has approved a stock buyback program on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ROK shares. Barclays cut their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Robert W. Baird reduced their price target on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Mizuho boosted their price objective on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. TD Cowen reduced their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Finally, Bank of America boosted their price target on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $286.47.

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.