Dakota Wealth Management Sells 183 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Dakota Wealth Management lessened its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 8.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,045 shares of the industrial products company’s stock after selling 183 shares during the quarter. Dakota Wealth Management’s holdings in Rockwell Automation were worth $549,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ROK. Price T Rowe Associates Inc. MD grew its stake in shares of Rockwell Automation by 951.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock worth $1,611,915,000 after buying an additional 5,006,706 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Rockwell Automation by 29,591.7% during the third quarter. International Assets Investment Management LLC now owns 936,178 shares of the industrial products company’s stock worth $251,326,000 after buying an additional 933,025 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Rockwell Automation by 1,119.3% during the second quarter. Van ECK Associates Corp now owns 763,351 shares of the industrial products company’s stock worth $210,135,000 after buying an additional 700,745 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Rockwell Automation by 3.2% during the first quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company’s stock worth $4,092,891,000 after buying an additional 438,356 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Rockwell Automation during the first quarter worth $118,345,000. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Trading Up 0.8 %

ROK opened at $269.86 on Monday. 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 company has a market cap of $30.76 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 4.68 and a beta of 1.36. The company has a fifty day moving average price of $265.79 and a two-hundred day moving average price of $267.05.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share 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 firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm posted $3.01 earnings per share. The business’s revenue was down 8.4% compared to the same quarter last year. Analysts predict that Rockwell Automation, Inc. will post 9.65 EPS for the current fiscal year.

Rockwell Automation announced that its board has approved a stock repurchase 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 repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ROK shares. Morgan Stanley started coverage on shares of Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 price target on the stock. Bank of America lifted their price target on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Oppenheimer lifted their price target on shares of Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. JPMorgan Chase & Co. cut their price target on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Finally, Wells Fargo & Company lifted their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.