Prime Capital Investment Advisors LLC Decreases Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

Prime Capital Investment Advisors LLC cut its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 20.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,787 shares of the industrial products company’s stock after selling 7,117 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Rockwell Automation were worth $7,649,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Nia Impact Advisors LLC grew its position in shares of Rockwell Automation by 3.6% during the 2nd quarter. Nia Impact Advisors LLC now owns 8,648 shares of the industrial products company’s stock worth $2,381,000 after buying an additional 300 shares in the last quarter. Garrison Asset Management LLC raised its stake in Rockwell Automation by 0.8% in the 2nd quarter. Garrison Asset Management LLC now owns 11,485 shares of the industrial products company’s stock worth $3,162,000 after acquiring an additional 90 shares during the last quarter. Seven Mile Advisory purchased a new stake in Rockwell Automation during the 2nd quarter valued at about $212,000. Envestnet Asset Management Inc. boosted its position in Rockwell Automation by 21.1% in the second quarter. Envestnet Asset Management Inc. now owns 68,893 shares of the industrial products company’s stock valued at $18,965,000 after buying an additional 11,996 shares during the last quarter. Finally, Wealthspire Advisors LLC raised its holdings in shares of Rockwell Automation by 4.2% during the second quarter. Wealthspire Advisors LLC now owns 2,259 shares of the industrial products company’s stock worth $622,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Trading Up 1.9 %

NYSE:ROK opened at $262.92 on Monday. The company has a market capitalization of $29.97 billion, a PE ratio of 25.70, a P/E/G ratio of 4.57 and a beta of 1.37. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The stock’s 50 day moving average price is $265.85 and its 200 day moving average price is $270.74. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73.

Rockwell Automation (NYSE:ROK) last announced its earnings results 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. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the firm posted $3.01 earnings per share. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, research analysts anticipate that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

Rockwell Automation announced that its Board of Directors has authorized a stock repurchase program on Thursday, September 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ROK has been the subject of a number of analyst reports. Bank of America decreased their price target on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Oppenheimer reduced their target price on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their target price on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Redburn Atlantic began coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 price objective for the company. Finally, Robert W. Baird decreased their price target on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Rockwell Automation has an average rating of “Hold” and a consensus target price of $282.80.

Rockwell Automation 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.