Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC trimmed its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 0.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 198,148 shares of the industrial products company’s stock after selling 652 shares during the period. Rockwell Automation comprises approximately 2.5% of Birch Hill Investment Advisors LLC’s holdings, making the stock its 13th largest holding. Birch Hill Investment Advisors LLC owned about 0.17% of Rockwell Automation worth $53,195,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. InTrack Investment Management Inc raised its position in shares of Rockwell Automation by 23.3% in the 3rd quarter. InTrack Investment Management Inc now owns 2,663 shares of the industrial products company’s stock valued at $715,000 after purchasing an additional 504 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of Rockwell Automation in the 3rd quarter valued at approximately $214,000. Octavia Wealth Advisors LLC grew its stake in Rockwell Automation by 8.8% during the 3rd quarter. Octavia Wealth Advisors LLC now owns 1,884 shares of the industrial products company’s stock worth $506,000 after buying an additional 152 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Rockwell Automation by 238.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 864 shares of the industrial products company’s stock worth $232,000 after buying an additional 609 shares during the last quarter. Finally, Strong Tower Advisory Services boosted its position in Rockwell Automation by 8.6% during the 3rd quarter. Strong Tower Advisory Services now owns 1,859 shares of the industrial products company’s stock worth $499,000 after acquiring an additional 147 shares during the period. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Trading Up 1.1 %

Shares of ROK opened at $271.16 on Friday. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. The stock has a 50 day simple moving average of $262.91 and a 200-day simple moving average of $268.07. The stock has a market cap of $30.77 billion, a PE ratio of 30.81, a PEG ratio of 4.64 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share 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 during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the firm posted $3.01 EPS. The business’s revenue was down 8.4% on a year-over-year basis. On average, sell-side analysts predict that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation declared that its board has authorized a stock buyback program on Thursday, September 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ROK has been the subject of a number of analyst reports. TD Cowen reduced their price target on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Morgan Stanley began 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. Oppenheimer cut their price objective on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Redburn Atlantic initiated coverage on Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $283.60.

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.