Venture Visionary Partners LLC Increases Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

Venture Visionary Partners LLC boosted its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,645 shares of the industrial products company’s stock after purchasing an additional 360 shares during the quarter. Venture Visionary Partners LLC’s holdings in Rockwell Automation were worth $5,812,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ROK. Pathway Financial Advisers LLC acquired a new position in shares of Rockwell Automation in the first quarter valued at approximately $26,000. Riverview Trust Co purchased a new position in Rockwell Automation during the 1st quarter valued at about $28,000. ESL Trust Services LLC acquired a new position in Rockwell Automation during the first quarter worth about $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Rockwell Automation during the second quarter valued at $36,000. Finally, Webster Bank N. A. purchased a new stake in shares of Rockwell Automation during the first quarter worth about $44,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Trading Down 1.1 %

Shares of NYSE:ROK traded down $2.88 during midday trading on Monday, hitting $269.94. 465,716 shares of the stock were exchanged, compared to its average volume of 882,794. 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, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76. The business’s 50-day moving average price is $264.95 and its 200 day moving average price is $267.50. The stock has a market capitalization of $30.77 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 4.64 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last released its earnings results 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 net margin of 11.56% and a return on equity of 34.09%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the company earned $3.01 EPS. Rockwell Automation’s quarterly revenue was down 8.4% compared to the same quarter last year. Analysts predict that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ROK. Wells Fargo & Company increased their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Redburn Atlantic initiated coverage on shares of Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price on the stock. Morgan Stanley started coverage on Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 target price on the stock. Mizuho increased their price objective on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, TD Cowen decreased their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $286.47.

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.