Rockwell Automation, Inc. (NYSE:ROK) Shares Bought by Boston Common Asset Management LLC

by · The Cerbat Gem

Boston Common Asset Management LLC grew its position in shares of Rockwell Automation, Inc. (NYSE:ROK – Free Report) by 3.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,680 shares of the industrial products company’s stock after purchasing an additional 592 shares during the period. Boston Common Asset Management LLC’s holdings in Rockwell Automation were worth $4,746,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new stake in shares of Rockwell Automation in the first quarter valued at $26,000. Riverview Trust Co acquired a new stake in shares of Rockwell Automation in the first quarter valued at $28,000. ESL Trust Services LLC acquired a new stake in shares of Rockwell Automation in the first quarter valued at $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Rockwell Automation in the second quarter valued at $36,000. Finally, Cooksen Wealth LLC acquired a new stake in shares of Rockwell Automation in the fourth quarter valued at $40,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ROK has been the topic of several recent analyst reports. 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. Oppenheimer dropped their target price on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Bank of America dropped their price objective on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Redburn Atlantic began coverage on Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday. Three equities 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $283.60.

Check Out Our Latest Analysis on ROK

Rockwell Automation Stock Performance

Rockwell Automation stock opened at $268.15 on Friday. The stock’s 50-day moving average is $262.49 and its 200-day moving average is $268.27. The company has a market cap of $30.43 billion, a price-to-earnings ratio of 30.47, a price-to-earnings-growth ratio of 4.64 and a beta of 1.36. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68. Rockwell Automation, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76.

Rockwell Automation (NYSE:ROK – Get Free Report) last released 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. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period last year, the business posted $3.01 EPS. Equities analysts anticipate that Rockwell Automation, Inc. will post 9.67 earnings per share for the current year.

Rockwell Automation announced that its Board of Directors has approved a stock repurchase plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Rockwell Automation Profile

(Free Report)

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.

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