State Board of Administration of Florida Retirement System cut its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 4.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 153,153 shares of the industrial products company’s stock after selling 7,010 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Rockwell Automation were worth $43,805,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FFT Wealth Management LLC purchased a new position in shares of Rockwell Automation during the 2nd quarter worth $25,000. Lumature Wealth Partners LLC purchased a new stake in shares of Rockwell Automation in the 1st quarter valued at approximately $27,000. SRS Capital Advisors Inc. acquired a new position in shares of Rockwell Automation in the 2nd quarter worth approximately $37,000. Allred Capital Management LLC purchased a new position in shares of Rockwell Automation during the 1st quarter worth approximately $36,000. Finally, Total Clarity Wealth Management Inc. acquired a new stake in Rockwell Automation in the 1st quarter valued at approximately $45,000. Institutional investors and hedge funds own 77.99% of the company’s stock.
Several research analysts have recently commented on ROK shares. Oppenheimer restated a “buy” rating and set a $286.00 price target on shares of Rockwell Automation in a research report on Friday, June 25th. Robert W. Baird raised their target price on Rockwell Automation from $280.00 to $310.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. HSBC boosted their price target on shares of Rockwell Automation from $247.00 to $285.00 and gave the stock a “hold” rating in a research note on Thursday, July 15th. They noted that the move was a valuation call. Morgan Stanley raised their price objective on shares of Rockwell Automation from $313.00 to $327.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Finally, Credit Suisse Group upped their target price on shares of Rockwell Automation from $275.00 to $298.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $283.25.
Shares of NYSE:ROK opened at $313.31 on Wednesday. The firm’s 50 day moving average price is $309.40 and its 200 day moving average price is $282.49. The stock has a market cap of $36.35 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 3.46 and a beta of 1.38. Rockwell Automation, Inc. has a fifty-two week low of $206.57 and a fifty-two week high of $327.20. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.77.
Rockwell Automation (NYSE:ROK) last issued its earnings results on Monday, July 26th. The industrial products company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.22. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.79 billion. Rockwell Automation had a net margin of 22.82% and a return on equity of 53.06%. The company’s revenue was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.27 earnings per share. On average, equities analysts anticipate that Rockwell Automation, Inc. will post 9.3 EPS for the current year.
Rockwell Automation Company Profile
Rockwell Automation, Inc engages in the provision of industrial automation and information services. It operates through the following segments: Architecture and Software, and Control Products and Solutions . The Architecture and Software segment contains hardware, software, and communication components of its integrated control and information architecture which are capable of controlling the customer’s industrial processes and connecting with their business enterprise.
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