Beese Fulmer Investment Management Inc. Has $3.51 Million Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Beese Fulmer Investment Management Inc. decreased its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,069 shares of the industrial products company’s stock after selling 50 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Rockwell Automation were worth $3,509,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norden Group LLC acquired a new position in shares of Rockwell Automation in the first quarter valued at approximately $2,003,000. SG Americas Securities LLC increased its holdings in shares of Rockwell Automation by 186.9% during the first quarter. SG Americas Securities LLC now owns 14,731 shares of the industrial products company’s stock worth $4,292,000 after purchasing an additional 9,596 shares during the period. Comerica Bank increased its stake in Rockwell Automation by 6.1% during the 1st quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock worth $17,485,000 after acquiring an additional 3,425 shares during the period. Magnetar Financial LLC acquired a new position in Rockwell Automation in the 1st quarter valued at $2,817,000. Finally, TimesSquare Capital Management LLC lifted its position in shares of Rockwell Automation by 5.0% during the 1st quarter. TimesSquare Capital Management LLC now owns 203,830 shares of the industrial products company’s stock valued at $59,382,000 after acquiring an additional 9,645 shares during the period. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Trading Down 0.9 %

NYSE ROK opened at $266.44 on Thursday. The stock has a market capitalization of $30.37 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 4.64 and a beta of 1.36. The business’s fifty day moving average is $265.56 and its 200-day moving average is $267.37. 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 one year low of $242.81 and a one year high of $312.76.

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

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Redburn Atlantic initiated coverage on Rockwell Automation in a research note on Monday, July 8th. They set a “neutral” rating and a $256.00 target price for the company. JPMorgan Chase & Co. reduced their price target on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Mizuho lifted their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird reduced their price target on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Oppenheimer increased their target price on shares of Rockwell Automation from $270.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Three investment 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. Based on data from MarketBeat.com, Rockwell Automation presently has a consensus rating of “Hold” and a consensus price target of $286.47.

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.