Raymond James & Associates Sells 4,396 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Raymond James & Associates decreased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 7.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,357 shares of the industrial products company's stock after selling 4,396 shares during the quarter. Raymond James & Associates' holdings in Rockwell Automation were worth $13,787,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Brookstone Capital Management boosted its holdings in Rockwell Automation by 69.2% in the first quarter. Brookstone Capital Management now owns 1,815 shares of the industrial products company's stock valued at $529,000 after acquiring an additional 742 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Rockwell Automation by 1.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,774 shares of the industrial products company's stock valued at $4,887,000 after acquiring an additional 296 shares during the last quarter. Cornerstone Wealth Group LLC boosted its holdings in Rockwell Automation by 9.2% in the first quarter. Cornerstone Wealth Group LLC now owns 735 shares of the industrial products company's stock valued at $214,000 after acquiring an additional 62 shares during the last quarter. Diversified Trust Co boosted its holdings in Rockwell Automation by 61.3% in the first quarter. Diversified Trust Co now owns 9,761 shares of the industrial products company's stock valued at $2,844,000 after acquiring an additional 3,708 shares during the last quarter. Finally, Cullinan Associates Inc. bought a new stake in Rockwell Automation in the first quarter valued at approximately $437,000. Institutional investors and hedge funds own 75.75% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. 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. Oppenheimer boosted their price target on Rockwell Automation from $270.00 to $288.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Barclays dropped their price target on Rockwell Automation from $250.00 to $245.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 10th. Redburn Atlantic began coverage on 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, JPMorgan Chase & Co. lowered their target price on Rockwell Automation from $245.00 to $227.00 and set an "underweight" rating on the stock in a research report on Monday, August 12th. 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 data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $286.47.

Rockwell Automation Stock Performance

ROK stock traded up $1.47 during trading on Monday, reaching $271.33. The stock had a trading volume of 585,796 shares, compared to its average volume of 872,277. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $312.76. The stock's 50 day moving average is $265.79 and its two-hundred day moving average is $267.05. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. The firm has a market cap of $30.79 billion, a PE ratio of 30.83, a PEG ratio of 4.70 and a beta of 1.36.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly 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. 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 during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the prior year, the business posted $3.01 earnings per share. The business's quarterly revenue was down 8.4% on a year-over-year basis. As a group, equities analysts anticipate that Rockwell Automation, Inc. will post 9.65 earnings per share for the current year.

Rockwell Automation declared that its Board of Directors has approved a share repurchase plan on Thursday, September 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Rockwell Automation 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.