Fiduciary Alliance LLC Takes Position in Rockwell Automation, Inc. (NYSE:ROK)

Fiduciary Alliance LLC bought a new position in shares of Rockwell Automation, Inc. (NYSE:ROK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 873 shares of the industrial products company’s stock, valued at approximately $234,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. InTrack Investment Management Inc raised its holdings in Rockwell Automation by 23.3% during the third quarter. InTrack Investment Management Inc now owns 2,663 shares of the industrial products company’s stock worth $715,000 after purchasing an additional 504 shares in the last quarter. Ritholtz Wealth Management purchased a new position in shares of Rockwell Automation in the 3rd quarter valued at $214,000. Octavia Wealth Advisors LLC lifted its position in Rockwell Automation by 8.8% in the third quarter. Octavia Wealth Advisors LLC now owns 1,884 shares of the industrial products company’s stock valued at $506,000 after acquiring an additional 152 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Rockwell Automation by 238.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 864 shares of the industrial products company’s stock valued at $232,000 after acquiring an additional 609 shares in the last quarter. Finally, Strong Tower Advisory Services boosted its stake in Rockwell Automation by 8.6% in the third quarter. Strong Tower Advisory Services now owns 1,859 shares of the industrial products company’s stock valued at $499,000 after acquiring an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Price Performance

Shares of ROK opened at $275.53 on Tuesday. The firm has a market capitalization of $31.41 billion, a PE ratio of 26.93, a P/E/G ratio of 4.64 and a beta of 1.36. The stock’s 50 day moving average is $263.45 and its two-hundred day moving average is $267.80. 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.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company posted $3.01 earnings per share. Rockwell Automation’s quarterly revenue was down 8.4% on a year-over-year basis. Research analysts anticipate that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

Rockwell Automation announced that its board has approved a share buyback program on Thursday, September 5th that permits the company to buyback $1.00 billion in outstanding 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 usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. 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. Wells Fargo & Company boosted their price objective on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Morgan Stanley started coverage on shares of Rockwell Automation in a research report on Friday, September 6th. They set an “overweight” rating and a $320.00 target price 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 research report on Wednesday, July 10th. Finally, TD Cowen dropped their price objective 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. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $284.80.

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.