Cabot Wealth Management Inc. Grows Position in Rockwell Automation, Inc. (NYSE:ROK)

Cabot Wealth Management Inc. boosted its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,809 shares of the industrial products company’s stock after acquiring an additional 555 shares during the quarter. Rockwell Automation comprises approximately 1.5% of Cabot Wealth Management Inc.’s portfolio, making the stock its 27th biggest holding. Cabot Wealth Management Inc.’s holdings in Rockwell Automation were worth $12,298,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norden Group LLC purchased a new position in Rockwell Automation in the first quarter worth $2,003,000. SG Americas Securities LLC increased its position in shares of Rockwell Automation by 186.9% in the first quarter. SG Americas Securities LLC now owns 14,731 shares of the industrial products company’s stock valued at $4,292,000 after buying an additional 9,596 shares in the last quarter. Comerica Bank increased its position in shares of Rockwell Automation by 6.1% in the first quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock valued at $17,485,000 after buying an additional 3,425 shares in the last quarter. Magnetar Financial LLC purchased a new position in shares of Rockwell Automation in the first quarter valued at $2,817,000. Finally, TimesSquare Capital Management LLC increased its position in shares of Rockwell Automation by 5.0% in the first quarter. TimesSquare Capital Management LLC now owns 203,830 shares of the industrial products company’s stock valued at $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 Analysts Forecast Growth

A number of brokerages have recently weighed in on ROK. TD Cowen dropped their price target on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company raised their price target on 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 dropped their price objective on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Oppenheimer lifted their price objective on Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Robert W. Baird dropped their price objective on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $284.80.

Rockwell Automation Trading Down 1.1 %

NYSE:ROK traded down $3.05 during mid-day trading on Tuesday, reaching $272.22. The company’s stock had a trading volume of 490,544 shares, compared to its average volume of 890,042. The company’s fifty day simple moving average is $263.45 and its two-hundred day simple moving average is $267.80. 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 twelve month low of $242.81 and a twelve month high of $312.76. The stock has a market cap of $31.03 billion, a P/E ratio of 26.93, a P/E/G ratio of 4.64 and a beta of 1.36.

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 the consensus estimate of $2.08 by $0.63. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The company’s revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.01 EPS. On average, equities analysts predict that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

Rockwell Automation declared that its board has authorized a stock repurchase plan on Thursday, September 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is 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.