Posted by Defense World Staff on Sep 30th, 2024
Second Line Capital LLC lifted its holdings in Rockwell Automation, Inc. (NYSE:ROK – Free Report) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 963 shares of the industrial products company’s stock after buying an additional 47 shares during the quarter. Second Line Capital LLC’s holdings in Rockwell Automation were worth $265,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the business. Pathway Financial Advisers LLC bought a new position in shares of Rockwell Automation during the first quarter valued at approximately $26,000. Riverview Trust Co bought a new position in Rockwell Automation during the 1st quarter valued at approximately $28,000. ESL Trust Services LLC purchased a new position in Rockwell Automation during the first quarter valued at $29,000. Security National Bank purchased a new position in Rockwell Automation during the fourth quarter valued at $40,000. Finally, Cooksen Wealth LLC purchased a new stake in shares of Rockwell Automation in the fourth quarter worth $40,000. 75.75% of the stock is currently owned by institutional investors.
Rockwell Automation Price Performance
ROK stock opened at $270.61 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04. The company’s fifty day moving average price is $263.49 and its 200-day moving average price is $269.03. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76. The company has a market capitalization of $30.85 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 4.64 and a beta of 1.37.
Rockwell Automation (NYSE:ROK – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.08 by $0.63. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $3.01 EPS. The business’s revenue was down 8.4% on a year-over-year basis. On average, equities analysts anticipate that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.
Rockwell Automation announced that its Board of Directors has initiated a stock buyback program on Thursday, September 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Analysts Set New Price Targets
A number of analysts have weighed in on ROK shares. TD Cowen reduced their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Oppenheimer lowered their price objective on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Robert W. Baird dropped their price target on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Barclays reduced their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Finally, Redburn Atlantic initiated coverage on Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $282.80.
Check Out Our Latest Stock Analysis on ROK
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.
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