Evermay Wealth Management LLC Has $602,000 Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

by · The Cerbat Gem

Evermay Wealth Management LLC trimmed its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK – Free Report) by 18.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,242 shares of the industrial products company’s stock after selling 512 shares during the period. Evermay Wealth Management LLC’s holdings in Rockwell Automation were worth $602,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new stake in shares of Rockwell Automation in the first quarter worth approximately $26,000. Richardson Financial Services Inc. grew its holdings in shares of Rockwell Automation by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 48 shares in the last quarter. ESL Trust Services LLC acquired a new position in shares of Rockwell Automation in the first quarter worth $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Rockwell Automation during the second quarter worth $36,000. Finally, Cultivar Capital Inc. acquired a new stake in Rockwell Automation during the second quarter valued at $46,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ROK. Redburn Atlantic started coverage on Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 price target for the company. TD Cowen cut their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Bank of America upped their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Oppenheimer raised 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, Mizuho upped their price target on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Rockwell Automation presently has a consensus rating of “Hold” and a consensus price target of $286.47.

View Our Latest Stock Analysis on ROK

Rockwell Automation Stock Performance

ROK stock traded up $1.74 during trading on Wednesday, reaching $270.17. 77,099 shares of the stock were exchanged, compared to its average volume of 866,642. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. 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 company has a market capitalization of $30.66 billion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 4.70 and a beta of 1.36. The stock has a 50 day simple moving average of $265.97 and a 200-day simple moving average of $266.81.

Rockwell Automation (NYSE:ROK – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.63. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. Rockwell Automation’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.01 earnings per share. As a group, sell-side analysts anticipate that Rockwell Automation, Inc. will post 9.65 earnings per share for the current year.

Rockwell Automation announced that its Board of Directors has authorized a stock repurchase plan on Thursday, September 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to repurchase 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 shares are undervalued.

Rockwell Automation Company 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.

See Also

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