Nisa Investment Advisors LLC Has $7.68 Million Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Nisa Investment Advisors LLC cut its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,605 shares of the industrial products company’s stock after selling 367 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Rockwell Automation were worth $7,679,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pathway Financial Advisers LLC acquired a new stake in Rockwell Automation in the first quarter worth about $26,000. Richardson Financial Services Inc. increased its position in Rockwell Automation by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 48 shares during the period. ESL Trust Services LLC acquired a new stake in Rockwell Automation in the first quarter worth about $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in Rockwell Automation in the second quarter worth about $36,000. Finally, Cultivar Capital Inc. acquired a new stake in Rockwell Automation in the second quarter worth about $46,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Mizuho lifted their price objective on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer lifted their price objective on Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Bank of America raised 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. Wells Fargo & Company raised their target price on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, 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. 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $286.47.

Rockwell Automation Trading Down 0.7 %

NYSE:ROK opened at $266.61 on Thursday. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $312.76. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68. The stock has a market capitalization of $30.25 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 4.70 and a beta of 1.36. The business’s 50-day simple moving average is $265.99 and its 200-day simple moving average is $266.81.

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 the consensus estimate of $2.08 by $0.63. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business posted $3.01 EPS. Rockwell Automation’s revenue for the quarter was down 8.4% on a year-over-year basis. Sell-side analysts expect that Rockwell Automation, Inc. will post 9.65 earnings per share for the current fiscal year.

Rockwell Automation announced that its board has approved a stock buyback plan on Thursday, September 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

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.