Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. cut its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,470 shares of the industrial products company’s stock after selling 338 shares during the period. Wesbanco Bank Inc.’s holdings in Rockwell Automation were worth $1,737,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. lifted its holdings in Rockwell Automation by 17.5% in the first quarter. Hazlett Burt & Watson Inc. now owns 248 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 37 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of Rockwell Automation by 3.0% in the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 37 shares during the last quarter. Mather Group LLC. boosted its position in Rockwell Automation by 5.9% during the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock valued at $198,000 after purchasing an additional 38 shares during the period. Pure Financial Advisors LLC grew its stake in Rockwell Automation by 2.7% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock worth $444,000 after buying an additional 42 shares during the last quarter. Finally, Pitcairn Co. increased its position in Rockwell Automation by 4.2% in the first quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company’s stock worth $319,000 after buying an additional 44 shares during the period. Institutional investors own 75.75% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Barclays reduced their price target on shares of 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 decreased their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Bank of America cut their price target on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Redburn Atlantic assumed coverage on Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 price objective for the company. Finally, Morgan Stanley assumed coverage on Rockwell Automation in a research note on Friday, September 6th. They set an “overweight” rating and a $320.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $284.80.

Rockwell Automation Trading Down 1.1 %

Shares of ROK stock opened at $272.31 on Wednesday. The stock has a 50-day simple moving average of $263.89 and a 200 day simple moving average of $267.67. The stock has a market capitalization of $31.04 billion, a P/E ratio of 26.62, a P/E/G ratio of 4.64 and a beta of 1.36. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $312.76. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share 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 company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm posted $3.01 EPS. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, sell-side analysts expect that Rockwell Automation, Inc. will post 9.67 earnings per share for the current fiscal year.

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

About Rockwell Automation

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.