Lmcg Investments LLC Reduces Position in Rockwell Automation, Inc. (NYSE:ROK)

Lmcg Investments LLC reduced its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,066 shares of the industrial products company’s stock after selling 306 shares during the period. Lmcg Investments LLC’s holdings in Rockwell Automation were worth $12,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Pathway Financial Advisers LLC acquired a new stake in shares of Rockwell Automation during the 1st quarter worth approximately $26,000. Riverview Trust Co acquired a new position in Rockwell Automation in the first quarter valued at about $28,000. ESL Trust Services LLC purchased a new position in Rockwell Automation during the first quarter worth about $29,000. Security National Bank acquired a new stake in shares of Rockwell Automation during the fourth quarter valued at about $40,000. Finally, Cooksen Wealth LLC acquired a new stake in shares of Rockwell Automation during the fourth quarter valued at about $40,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their target price 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. Oppenheimer cut their price objective on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Barclays lowered their target price on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. TD Cowen cut 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. Finally, Robert W. Baird cut their target price on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $282.80.

Rockwell Automation Stock Down 0.3 %

Shares of NYSE:ROK opened at $262.08 on Tuesday. The firm has a 50 day simple moving average of $265.79 and a 200-day simple moving average of $270.57. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month 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 company has a market capitalization of $29.88 billion, a PE ratio of 25.62, a P/E/G ratio of 4.57 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.63. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. Rockwell Automation’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.01 earnings per share. On average, equities analysts predict that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

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

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.