Moss Adams Wealth Advisors LLC Has $598,000 Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

Moss Adams Wealth Advisors LLC raised its position in Rockwell Automation, Inc. (NYSE:ROK) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,228 shares of the industrial products company’s stock after buying an additional 101 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Rockwell Automation were worth $598,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ROK. Norden Group LLC acquired a new position in shares of Rockwell Automation in the 1st quarter worth approximately $2,003,000. SG Americas Securities LLC boosted its stake in Rockwell Automation by 186.9% in the first quarter. SG Americas Securities LLC now owns 14,731 shares of the industrial products company’s stock worth $4,292,000 after purchasing an additional 9,596 shares in the last quarter. Comerica Bank boosted its stake in Rockwell Automation by 6.1% in the first quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock worth $17,485,000 after purchasing an additional 3,425 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of Rockwell Automation during the first quarter worth $2,817,000. Finally, TimesSquare Capital Management LLC increased its stake in shares of Rockwell Automation by 5.0% in the first quarter. TimesSquare Capital Management LLC now owns 203,830 shares of the industrial products company’s stock valued at $59,382,000 after buying an additional 9,645 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. 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 on the stock. Mizuho upped their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday. TD Cowen decreased their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Oppenheimer boosted their price objective on shares of Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Robert W. Baird decreased their price objective on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Rockwell Automation currently has an average rating of “Hold” and an average price target of $286.47.

Rockwell Automation Stock Up 0.1 %

Shares of Rockwell Automation stock opened at $272.82 on Friday. Rockwell Automation, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76. The business has a fifty day simple moving average of $264.95 and a 200 day simple moving average of $267.67. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The stock has a market cap of $31.10 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 4.64 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.63. The company 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% compared to the same quarter last year. During the same period in the previous year, the company earned $3.01 EPS. Research analysts predict that Rockwell Automation, Inc. will post 9.67 EPS for the current 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.

Rockwell Automation Company 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.