Kooman & Associates Acquires New Position in Rockwell Automation, Inc. (NYSE:ROK)

Kooman & Associates purchased a new position in Rockwell Automation, Inc. (NYSE:ROK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,005 shares of the industrial products company’s stock, valued at approximately $277,000.

Other large investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC purchased a new stake in Rockwell Automation during the first quarter valued at $26,000. Riverview Trust Co purchased a new stake in Rockwell Automation during the first quarter valued at approximately $28,000. ESL Trust Services LLC purchased a new stake in shares of Rockwell Automation in the first quarter worth approximately $29,000. Security National Bank purchased a new stake in shares of Rockwell Automation in the fourth quarter worth approximately $40,000. Finally, Cooksen Wealth LLC purchased a new position in Rockwell Automation during the 4th quarter worth $40,000. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Trading Up 0.4 %

Rockwell Automation stock opened at $263.20 on Wednesday. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. The stock has a market capitalization of $30.01 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 4.57 and a beta of 1.37. The firm has a 50 day simple moving average of $265.83 and a 200-day simple moving average of $270.39. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68.

Rockwell Automation (NYSE:ROK) last issued 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 business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.01 EPS. As a group, equities research analysts expect that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation declared that its board has approved a share repurchase program on Thursday, September 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

ROK has been the subject of a number of recent analyst reports. 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 research report on Thursday, August 8th. Morgan Stanley started coverage on Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price target for the company. TD Cowen cut their price objective 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. JPMorgan Chase & Co. dropped their price target 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. Finally, Oppenheimer lowered their price objective on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $282.80.

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.