Seven Mile Advisory Acquires New Shares in Rockwell Automation, Inc. (NYSE:ROK)

Seven Mile Advisory bought a new position in Rockwell Automation, Inc. (NYSE:ROK) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 769 shares of the industrial products company’s stock, valued at approximately $212,000.

A number of other hedge funds have also added to or reduced their stakes in ROK. Pathway Financial Advisers LLC bought a new position in shares of Rockwell Automation in the first quarter valued at approximately $26,000. Riverview Trust Co bought a new position in Rockwell Automation in the 1st quarter valued at $28,000. ESL Trust Services LLC bought a new position in Rockwell Automation in the 1st quarter valued at $29,000. Security National Bank purchased a new position in shares of Rockwell Automation during the 4th quarter valued at $40,000. Finally, Cooksen Wealth LLC bought a new position in shares of Rockwell Automation in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Trading Up 1.9 %

Shares of ROK stock opened at $262.92 on Friday. The business has a 50-day moving average of $265.85 and a 200 day moving average of $270.85. 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, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76. The stock has a market capitalization of $29.97 billion, a PE ratio of 25.70, 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 for the quarter, beating analysts’ consensus estimates of $2.08 by $0.63. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm posted $3.01 earnings per share. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

Rockwell Automation announced that its board has authorized a share buyback program on Thursday, September 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits 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.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their price objective on Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Barclays cut their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Morgan Stanley assumed coverage on shares of Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 target price on the stock. TD Cowen cut their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Finally, Redburn Atlantic initiated coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $282.80.

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.