Greenleaf Trust Has $1.46 Million Position in Rockwell Automation, Inc. (NYSE:ROK)

Greenleaf Trust raised its stake in Rockwell Automation, Inc. (NYSE:ROK) by 77.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,422 shares of the industrial products company’s stock after purchasing an additional 2,363 shares during the period. Greenleaf Trust’s holdings in Rockwell Automation were worth $1,456,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Rockwell Automation in the third quarter valued at $547,000. Bank Pictet & Cie Europe AG grew its stake in shares of Rockwell Automation by 2.7% in the third quarter. Bank Pictet & Cie Europe AG now owns 4,157 shares of the industrial products company’s stock valued at $1,116,000 after acquiring an additional 109 shares in the last quarter. GAM Holding AG grew its stake in shares of Rockwell Automation by 2.6% in the third quarter. GAM Holding AG now owns 9,346 shares of the industrial products company’s stock valued at $2,509,000 after acquiring an additional 238 shares in the last quarter. Symphony Financial Ltd. Co. grew its stake in shares of Rockwell Automation by 5.3% in the third quarter. Symphony Financial Ltd. Co. now owns 3,969 shares of the industrial products company’s stock valued at $1,074,000 after acquiring an additional 198 shares in the last quarter. Finally, Eastern Bank acquired a new position in shares of Rockwell Automation in the third quarter valued at about $266,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America upped their price target on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays decreased their price target on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Oppenheimer upped their price target on shares of Rockwell Automation from $270.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Redburn Atlantic started coverage on shares of Rockwell Automation in a research note on Monday, July 8th. They issued a “neutral” rating and a $256.00 price target on the stock. Finally, TD Cowen cut 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 report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $286.47.

Rockwell Automation Stock Down 0.9 %

ROK stock opened at $266.44 on Thursday. The stock has a market capitalization of $30.37 billion, a P/E ratio of 26.04, a price-to-earnings-growth ratio of 4.64 and a beta of 1.36. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. Rockwell Automation, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76. The firm has a 50-day moving average price of $265.56 and a 200-day moving average price of $267.37.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 11.56% and a return on equity of 34.09%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.01 earnings per share. As a group, equities research analysts anticipate that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation declared that its Board of Directors has initiated a share repurchase plan on Thursday, September 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are 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.