Rockwell Automation, Inc. (NYSE:ROK) Position Increased by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lifted its position in Rockwell Automation, Inc. (NYSE:ROK) by 2.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,157 shares of the industrial products company’s stock after buying an additional 109 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Rockwell Automation were worth $1,116,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. CreativeOne Wealth LLC increased its stake in shares of Rockwell Automation by 3.0% in the first quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 37 shares during the period. Mather Group LLC. raised its stake in Rockwell Automation by 5.9% during the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock valued at $198,000 after purchasing an additional 38 shares during the last quarter. Pure Financial Advisors LLC boosted its holdings in Rockwell Automation by 2.7% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock valued at $444,000 after purchasing an additional 42 shares during the period. Pitcairn Co. boosted its holdings in Rockwell Automation by 4.2% in the 1st quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 44 shares during the period. Finally, Hancock Whitney Corp grew its position in Rockwell Automation by 2.5% in the 1st quarter. Hancock Whitney Corp now owns 1,805 shares of the industrial products company’s stock worth $526,000 after purchasing an additional 44 shares during the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Stock Down 0.4 %

ROK opened at $268.79 on Wednesday. The firm has a market cap of $30.64 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 4.64 and a beta of 1.36. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04. The firm’s 50-day simple moving average is $265.46 and its 200-day simple moving average is $267.38. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.63. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.01 earnings per share. Equities research analysts anticipate that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

ROK has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley started coverage on Rockwell Automation in a research report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Mizuho raised their target price on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird lowered their price target on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $286.47.

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.