First United Bank & Trust Sells 2,356 Shares of Rockwell Automation, Inc. (NYSE:ROK)

First United Bank & Trust cut its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 96.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 96 shares of the industrial products company’s stock after selling 2,356 shares during the period. First United Bank & Trust’s holdings in Rockwell Automation were worth $26,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Pathway Financial Advisers LLC bought a new stake in Rockwell Automation in the 1st quarter valued at $26,000. Riverview Trust Co acquired a new stake in shares of Rockwell Automation during the 1st quarter valued at about $28,000. ESL Trust Services LLC bought a new stake in Rockwell Automation in the first quarter valued at about $29,000. Strategic Investment Solutions Inc. IL acquired a new position in Rockwell Automation in the second quarter worth about $36,000. Finally, Webster Bank N. A. bought a new position in Rockwell Automation during the first quarter worth about $44,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ROK. Bank of America lowered their price objective on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. 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 note on Thursday, August 8th. TD Cowen cut their price objective on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Morgan Stanley began coverage on shares of Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 target price on the stock. Finally, Barclays cut 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. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rockwell Automation presently has an average rating of “Hold” and a consensus target price of $284.80.

Rockwell Automation Stock Up 0.8 %

NYSE:ROK opened at $274.36 on Thursday. The stock’s fifty day moving average price is $264.38 and its two-hundred day moving average price is $267.71. The company has a market cap of $31.28 billion, a price-to-earnings ratio of 26.82, a P/E/G ratio of 4.64 and a beta of 1.36. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) 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 analysts’ expectations of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.01 earnings per share. On average, analysts anticipate that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

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

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.