Jade Capital Advisors LLC Acquires New Position in Rockwell Automation, Inc. (NYSE:ROK)

Jade Capital Advisors LLC bought a new stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,000 shares of the industrial products company's stock, valued at approximately $1,611,000. Rockwell Automation accounts for approximately 1.0% of Jade Capital Advisors LLC's portfolio, making the stock its 28th biggest holding.

Several other institutional investors also recently made changes to their positions in ROK. Pathway Financial Advisers LLC purchased a new stake in Rockwell Automation during the first quarter worth about $26,000. Riverview Trust Co purchased a new stake in shares of Rockwell Automation during the 1st quarter worth approximately $28,000. ESL Trust Services LLC acquired a new stake in shares of Rockwell Automation in the 1st quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL purchased a new position in Rockwell Automation in the 2nd quarter valued at approximately $36,000. Finally, Webster Bank N. A. acquired a new position in Rockwell Automation during the first quarter worth $44,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Barclays lowered their target price on Rockwell Automation from $250.00 to $245.00 and set an "underweight" rating on the stock in a report on Wednesday, July 10th. TD Cowen cut their target price 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. Wells Fargo & Company increased their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Morgan Stanley assumed coverage on Rockwell Automation in a research report on Friday, September 6th. They set an "overweight" rating and a $320.00 price objective for the company. Finally, Oppenheimer increased their target price on Rockwell Automation from $270.00 to $288.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Three 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.com, the stock has an average rating of "Hold" and a consensus price target of $286.47.

Rockwell Automation Trading Down 0.4 %

Shares of Rockwell Automation stock traded down $1.15 during trading hours on Tuesday, hitting $268.79. The company's stock had a trading volume of 304,928 shares, compared to its average volume of 879,967. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $30.64 billion, a PE ratio of 26.39, a P/E/G ratio of 4.64 and a beta of 1.36. The business has a fifty day moving average of $265.29 and a 200 day moving average of $267.46. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings data 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. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The company 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 firm posted $3.01 earnings per share. The firm's quarterly revenue was down 8.4% on a year-over-year basis. As a group, equities analysts forecast that Rockwell Automation, Inc. will post 9.67 EPS for the current year.

Rockwell Automation declared that its board has approved a share repurchase 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 repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

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.