InTrack Investment Management Inc Increases Position in Rockwell Automation, Inc. (NYSE:ROK)

InTrack Investment Management Inc boosted its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 23.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,663 shares of the industrial products company’s stock after acquiring an additional 504 shares during the quarter. InTrack Investment Management Inc’s holdings in Rockwell Automation were worth $715,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Hazlett Burt & Watson Inc. lifted its holdings in shares of Rockwell Automation by 17.5% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 248 shares of the industrial products company’s stock valued at $72,000 after buying an additional 37 shares during the period. CreativeOne Wealth LLC grew its stake in Rockwell Automation by 3.0% during the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock worth $372,000 after buying an additional 37 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Rockwell Automation by 5.9% in the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 38 shares during the period. Pure Financial Advisors LLC grew its position 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 buying an additional 42 shares in the last quarter. Finally, Pitcairn Co. boosted its stake in Rockwell Automation by 4.2% during the first quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company’s stock valued at $319,000 after buying an additional 44 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Stock Up 1.1 %

NYSE ROK opened at $271.16 on Friday. 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 company has a fifty day moving average of $262.91 and a two-hundred day moving average of $268.07. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $312.76. The firm has a market capitalization of $30.77 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 4.64 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last posted its quarterly 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. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $3.01 EPS. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, analysts predict that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

Rockwell Automation announced that its board has authorized a stock buyback plan on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ROK shares. Bank of America reduced their target price on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. 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 research report on Thursday, August 8th. Redburn Atlantic began coverage on shares of Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 price target on the stock. Oppenheimer cut their price target on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley initiated coverage on shares of Rockwell Automation in a research note on Friday, September 6th. They set an “overweight” rating and a $320.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Rockwell Automation presently has a consensus rating of “Hold” and an average target price 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.