Klein Pavlis & Peasley Financial Inc. Buys 210 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Klein Pavlis & Peasley Financial Inc. grew its stake in Rockwell Automation, Inc. (NYSE:ROK) by 4.8% in the third quarter, HoldingsChannel.com reports. The fund owned 4,563 shares of the industrial products company’s stock after acquiring an additional 210 shares during the period. Klein Pavlis & Peasley Financial Inc.’s holdings in Rockwell Automation were worth $1,225,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ROK. Pathway Financial Advisers LLC bought a new stake in Rockwell Automation during the 1st quarter worth approximately $26,000. Richardson Financial Services Inc. grew its stake in shares of Rockwell Automation by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 48 shares in the last quarter. ESL Trust Services LLC bought a new position in shares of Rockwell Automation during the 1st quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Rockwell Automation during the 2nd quarter worth approximately $36,000. Finally, Cultivar Capital Inc. bought a new position in shares of Rockwell Automation during the 2nd quarter worth approximately $46,000. 75.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Oppenheimer increased their price objective on Rockwell Automation from $270.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Mizuho increased their price objective on Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Morgan Stanley initiated coverage on Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price objective for the company. Finally, Redburn Atlantic initiated coverage on Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 price objective for the company. Three research 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 has a consensus rating of “Hold” and an average target price of $286.47.

Rockwell Automation Stock Up 0.8 %

Shares of NYSE ROK opened at $269.86 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $312.76. The stock has a market capitalization of $30.76 billion, a P/E ratio of 26.38, a PEG ratio of 4.68 and a beta of 1.36. The stock’s fifty day moving average is $265.79 and its 200 day moving average is $267.05.

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, topping analysts’ consensus estimates of $2.08 by $0.63. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business earned $3.01 earnings per share. Rockwell Automation’s revenue was down 8.4% on a year-over-year basis. Sell-side analysts forecast that Rockwell Automation, Inc. will post 9.65 earnings per share for the current fiscal year.

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

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.