Greenleaf Trust Purchases 2,363 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Greenleaf Trust boosted its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 77.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,422 shares of the industrial products company's stock after buying 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 reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI purchased a new stake in Rockwell Automation during the third quarter valued at about $547,000. Bank Pictet & Cie Europe AG lifted its stake in Rockwell Automation by 2.7% during 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 buying an additional 109 shares in the last quarter. GAM Holding AG lifted its stake in Rockwell Automation by 2.6% during the third quarter. GAM Holding AG now owns 9,346 shares of the industrial products company's stock valued at $2,509,000 after buying an additional 238 shares in the last quarter. Symphony Financial Ltd. Co. lifted its stake in Rockwell Automation by 5.3% during 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 buying an additional 198 shares in the last quarter. Finally, Eastern Bank acquired a new position in shares of Rockwell Automation in the 3rd quarter valued at about $266,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Stock Performance

ROK stock traded up $1.24 during midday trading on Thursday, hitting $267.68. 479,980 shares of the company traded hands, compared to its average volume of 876,054. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. 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 business has a 50 day simple moving average of $265.56 and a 200-day simple moving average of $267.37. The stock has a market capitalization of $30.52 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 4.64 and a beta of 1.36.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS 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 company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company posted $3.01 earnings per share. The company's revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, equities research analysts predict that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

Rockwell Automation announced that its board has authorized a stock 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 repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ROK has been the topic of a number of research reports. Barclays dropped 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. Morgan Stanley initiated coverage on Rockwell Automation in a report on Friday, September 6th. They issued an "overweight" rating and a $320.00 target price on the stock. Redburn Atlantic initiated coverage on Rockwell Automation in a report on Monday, July 8th. They issued a "neutral" rating and a $256.00 target price on the stock. Oppenheimer upped 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. Finally, JPMorgan Chase & Co. dropped their target price on Rockwell Automation from $245.00 to $227.00 and set an "underweight" rating on the stock in a report on Monday, August 12th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average 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.