Symphony Financial Ltd. Co. Raises Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

Symphony Financial Ltd. Co. grew its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 5.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,969 shares of the industrial products company’s stock after acquiring an additional 198 shares during the period. Symphony Financial Ltd. Co.’s holdings in Rockwell Automation were worth $1,074,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Norden Group LLC purchased a new stake in Rockwell Automation during the 1st quarter worth $2,003,000. SG Americas Securities LLC boosted its stake 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 purchasing an additional 9,596 shares during the period. Comerica Bank raised its position 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 buying an additional 3,425 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of Rockwell Automation during the 1st quarter worth about $2,817,000. Finally, TimesSquare Capital Management LLC raised its position in shares of Rockwell Automation by 5.0% during the 1st quarter. TimesSquare Capital Management LLC now owns 203,830 shares of the industrial products company’s stock worth $59,382,000 after buying an additional 9,645 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Wall Street Analyst Weigh In

ROK has been the topic of a number of research reports. TD Cowen dropped their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Mizuho boosted their price target on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company boosted their price objective on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Bank of America boosted 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. Finally, JPMorgan Chase & Co. lowered 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. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Rockwell Automation presently has a consensus rating of “Hold” and an average target price of $286.47.

Rockwell Automation Price Performance

NYSE:ROK opened at $268.79 on Wednesday. The stock has a market cap of $30.64 billion, a P/E ratio of 26.27, a PEG ratio of 4.64 and a beta of 1.36. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76. The company has a fifty day moving average price of $265.46 and a 200 day moving average price of $267.38. 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 released its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.08 by $0.63. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.01 EPS. Analysts anticipate that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

Rockwell Automation declared that its board has approved a stock buyback plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are 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.