Rockwell Automation, Inc. (NYSE:ROK) Holdings Lifted by Courier Capital LLC

Courier Capital LLC grew its position in Rockwell Automation, Inc. (NYSE:ROK) by 1.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,996 shares of the industrial products company’s stock after buying an additional 86 shares during the period. Courier Capital LLC’s holdings in Rockwell Automation were worth $1,610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Norden Group LLC bought a new position in shares of Rockwell Automation in the first quarter valued at approximately $2,003,000. SG Americas Securities LLC boosted its holdings in shares of Rockwell Automation by 186.9% in the first quarter. SG Americas Securities LLC now owns 14,731 shares of the industrial products company’s stock valued at $4,292,000 after acquiring an additional 9,596 shares in the last quarter. Comerica Bank boosted its holdings in shares of Rockwell Automation by 6.1% in the first quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock valued at $17,485,000 after acquiring an additional 3,425 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of Rockwell Automation in the first quarter valued at approximately $2,817,000. Finally, TimesSquare Capital Management LLC boosted its holdings in shares of Rockwell Automation by 5.0% in the first quarter. TimesSquare Capital Management LLC now owns 203,830 shares of the industrial products company’s stock valued at $59,382,000 after acquiring an additional 9,645 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

Analysts Set New Price Targets

ROK has been the subject of a number of research reports. Bank of America raised their target price on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Morgan Stanley initiated coverage on shares of Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 target price for the company. Oppenheimer raised their target price on shares of Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Robert W. Baird reduced their target price on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Mizuho raised their target price 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. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $286.47.

Rockwell Automation Stock Down 0.9 %

ROK stock opened at $266.44 on Thursday. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month 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 company has a market cap of $30.37 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 4.64 and a beta of 1.36. The company has a 50 day moving average of $265.56 and a two-hundred day moving average of $267.37.

Rockwell Automation (NYSE:ROK) last released 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 company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $3.01 EPS. The company’s revenue was down 8.4% compared to the same quarter last year. On average, equities analysts anticipate that Rockwell Automation, Inc. will post 9.67 earnings per share for the current fiscal year.

Rockwell Automation announced that its board has initiated a share repurchase 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 buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership 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.