Seven Mile Advisory Takes Position in Rockwell Automation, Inc. (NYSE:ROK)

Seven Mile Advisory purchased a new position in Rockwell Automation, Inc. (NYSE:ROK) in the second quarter, Holdings Channel.com reports. The fund purchased 769 shares of the industrial products company’s stock, valued at approximately $212,000.

Several other large investors have also added to or reduced their stakes in ROK. Norden Group LLC purchased a new stake in shares of Rockwell Automation in the 1st quarter worth about $2,003,000. SG Americas Securities LLC boosted its position in Rockwell Automation by 186.9% during the 1st 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 grew its holdings in shares of Rockwell Automation by 6.1% during the 1st quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock worth $17,485,000 after acquiring an additional 3,425 shares during the period. Mairs & Power Inc. grew its holdings in shares of Rockwell Automation by 2.4% during the 4th quarter. Mairs & Power Inc. now owns 384,684 shares of the industrial products company’s stock worth $119,437,000 after acquiring an additional 9,132 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Rockwell Automation by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 99,905 shares of the industrial products company’s stock worth $31,019,000 after acquiring an additional 4,089 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

ROK stock opened at $262.92 on Friday. The stock’s 50 day simple moving average is $265.85 and its 200 day simple moving average is $270.85. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. 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 $29.97 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 4.57 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company posted $3.01 earnings per share. The company’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, research analysts forecast that Rockwell Automation, Inc. will post 9.67 earnings per share for the current fiscal year.

Rockwell Automation announced that its Board of Directors has approved 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 repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ROK shares. Oppenheimer dropped their price target on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company reduced their target price on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Redburn Atlantic started coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 price target for the company. Barclays dropped their price objective on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. decreased their target price 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. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.