TradeLink Capital LLC Takes Position in Rockwell Automation, Inc. (NYSE:ROK)

TradeLink Capital LLC purchased a new stake in Rockwell Automation, Inc. (NYSE:ROK) during the second quarter, according to its most recent filing with the SEC. The firm purchased 1,100 shares of the industrial products company’s stock, valued at approximately $303,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ROK. Pathway Financial Advisers LLC acquired a new stake in Rockwell Automation in the first quarter worth $26,000. Riverview Trust Co acquired a new stake in Rockwell Automation during the 1st quarter worth $28,000. ESL Trust Services LLC bought a new position in Rockwell Automation during the first quarter worth about $29,000. Security National Bank acquired a new position in Rockwell Automation in the fourth quarter valued at about $40,000. Finally, Cooksen Wealth LLC bought a new stake in shares of Rockwell Automation in the fourth quarter worth about $40,000. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Trading Up 0.4 %

Rockwell Automation stock opened at $258.00 on Friday. The stock has a 50-day simple moving average of $265.88 and a 200 day simple moving average of $271.02. The stock has a market capitalization of $29.28 billion, a P/E ratio of 25.22, a PEG ratio of 4.57 and a beta of 1.37. 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.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the company posted $3.01 EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. Analysts expect that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

Rockwell Automation announced that its board has initiated a share repurchase program on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ROK has been the topic of several research analyst reports. Barclays dropped their target price on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Morgan Stanley initiated coverage on shares of Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 target price for the company. Robert W. Baird decreased their price objective on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Redburn Atlantic initiated coverage on Rockwell Automation in a research note on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price on the stock. Finally, Bank of America decreased their price target on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.