Global Trust Asset Management LLC Purchases 1,933 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Global Trust Asset Management LLC boosted its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 230.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,772 shares of the industrial products company’s stock after acquiring an additional 1,933 shares during the period. Global Trust Asset Management LLC’s holdings in Rockwell Automation were worth $744,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ROK. Brookstone Capital Management boosted its holdings in Rockwell Automation by 69.2% during the first quarter. Brookstone Capital Management now owns 1,815 shares of the industrial products company’s stock valued at $529,000 after purchasing an additional 742 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Rockwell Automation by 1.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,774 shares of the industrial products company’s stock valued at $4,887,000 after purchasing an additional 296 shares in the last quarter. Capital Asset Advisory Services LLC boosted its holdings in Rockwell Automation by 10.9% during the first quarter. Capital Asset Advisory Services LLC now owns 3,558 shares of the industrial products company’s stock valued at $994,000 after purchasing an additional 349 shares in the last quarter. New England Research & Management Inc. boosted its holdings in Rockwell Automation by 98.6% during the first quarter. New England Research & Management Inc. now owns 2,115 shares of the industrial products company’s stock valued at $616,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Astoria Portfolio Advisors LLC. boosted its holdings in Rockwell Automation by 15.2% during the first quarter. Astoria Portfolio Advisors LLC. now owns 1,663 shares of the industrial products company’s stock valued at $475,000 after purchasing an additional 219 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Stock Performance

Shares of NYSE:ROK opened at $267.68 on Friday. The stock has a market capitalization of $30.37 billion, a P/E ratio of 30.42, a P/E/G ratio of 4.68 and a beta of 1.36. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year 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. The business has a 50-day moving average price of $265.56 and a two-hundred day moving average price of $267.37.

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 the consensus estimate of $2.08 by $0.63. The firm had revenue of $2.05 billion during 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 company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.01 EPS. Equities analysts predict that Rockwell Automation, Inc. will post 9.65 earnings per share for the current year.

Rockwell Automation declared that its board has initiated a stock buyback 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ROK. Barclays decreased 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. Robert W. Baird reduced their target price on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Bank of America boosted their target price on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Redburn Atlantic began coverage on Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price on the stock. Finally, TD Cowen reduced their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Three 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. According to MarketBeat.com, Rockwell Automation presently has an average rating of “Hold” and an average price target 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.