Stratos Wealth Advisors LLC Reduces Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Stratos Wealth Advisors LLC reduced its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,569 shares of the industrial products company’s stock after selling 308 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Rockwell Automation were worth $4,448,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Hazlett Burt & Watson Inc. raised its holdings in shares of Rockwell Automation by 17.5% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 248 shares of the industrial products company’s stock valued at $72,000 after buying an additional 37 shares during the period. CreativeOne Wealth LLC raised its holdings in shares of Rockwell Automation by 3.0% during the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock valued at $372,000 after buying an additional 37 shares during the period. Mather Group LLC. raised its holdings in shares of 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 buying an additional 38 shares during the period. Pure Financial Advisors LLC raised its holdings in shares of 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 valued at $444,000 after buying an additional 42 shares during the period. Finally, Pitcairn Co. increased its holdings in Rockwell Automation by 4.2% during the 1st quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 44 shares during the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Automation Trading Up 0.1 %

NYSE:ROK opened at $272.82 on Friday. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. The firm has a market capitalization of $31.10 billion, a P/E ratio of 26.67, a P/E/G ratio of 4.64 and a beta of 1.36. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68. The business has a 50 day simple moving average of $264.95 and a 200 day simple moving average of $267.67.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) 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 business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm posted $3.01 EPS. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. Equities research analysts predict that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

Rockwell Automation declared that its Board of Directors has initiated 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 buy up to 3.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Robert W. Baird dropped their price objective on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Morgan Stanley assumed coverage on Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective on the stock. Barclays dropped their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. TD Cowen dropped their price objective on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Finally, Redburn Atlantic assumed coverage on Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 price objective on the stock. Three equities 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 stock has an average rating of “Hold” and an average target price of $286.47.

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.