Rockwell Automation, Inc. (NYSE:ROK) Shares Acquired by InTrack Investment Management Inc

InTrack Investment Management Inc raised its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 23.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,663 shares of the industrial products company’s stock after acquiring an additional 504 shares during the period. InTrack Investment Management Inc’s holdings in Rockwell Automation were worth $715,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Pathway Financial Advisers LLC purchased a new stake in shares of Rockwell Automation during the 1st quarter worth approximately $26,000. Riverview Trust Co acquired a new stake in shares of Rockwell Automation in the first quarter worth approximately $28,000. ESL Trust Services LLC purchased a new stake in shares of Rockwell Automation during the 1st quarter valued at $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in Rockwell Automation during the second quarter worth about $36,000. Finally, Cooksen Wealth LLC acquired a new stake in shares of Rockwell Automation in the fourth quarter worth $40,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ROK has been the topic of a number of recent research reports. Redburn Atlantic initiated coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 target price on the stock. Oppenheimer lowered their target price on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their price objective on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. TD Cowen decreased their price target 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. Finally, Morgan Stanley initiated coverage on Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Rockwell Automation currently has a consensus rating of “Hold” and an average target price of $283.60.

Rockwell Automation Price Performance

NYSE ROK opened at $271.16 on Friday. The firm has a market cap of $30.77 billion, a P/E ratio of 30.81, a price-to-earnings-growth ratio of 4.64 and a beta of 1.36. The stock’s 50-day moving average is $262.91 and its two-hundred day moving average is $268.07. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $312.76. 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 posted its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.63. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.01 EPS. On average, analysts anticipate that Rockwell Automation, Inc. will post 9.67 earnings per share for the current fiscal year.

Rockwell Automation declared that its Board of Directors has approved a stock repurchase program on Thursday, September 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors 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.