West Wealth Group LLC Sells 365 Shares of Rockwell Automation, Inc. (NYSE:ROK)

West Wealth Group LLC lowered its stake in Rockwell Automation, Inc. (NYSE:ROK) by 21.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,371 shares of the industrial products company’s stock after selling 365 shares during the quarter. West Wealth Group LLC’s holdings in Rockwell Automation were worth $368,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Brookstone Capital Management boosted its holdings in shares of Rockwell Automation by 69.2% in the 1st quarter. Brookstone Capital Management now owns 1,815 shares of the industrial products company’s stock worth $529,000 after purchasing an additional 742 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Rockwell Automation by 1.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,774 shares of the industrial products company’s stock valued at $4,887,000 after purchasing an additional 296 shares during the last quarter. Capital Asset Advisory Services LLC lifted its holdings in Rockwell Automation by 10.9% in the 1st quarter. Capital Asset Advisory Services LLC now owns 3,558 shares of the industrial products company’s stock worth $994,000 after buying an additional 349 shares during the period. New England Research & Management Inc. grew its position in shares of Rockwell Automation by 98.6% in the 1st quarter. New England Research & Management Inc. now owns 2,115 shares of the industrial products company’s stock worth $616,000 after buying an additional 1,050 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. increased its stake in shares of Rockwell Automation by 15.2% during the first quarter. Astoria Portfolio Advisors LLC. now owns 1,663 shares of the industrial products company’s stock valued at $475,000 after buying an additional 219 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Up 1.1 %

Rockwell Automation stock traded up $2.87 during mid-day trading on Friday, hitting $270.55. The company had a trading volume of 33,887 shares, compared to its average volume of 871,985. Rockwell Automation, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76. The company has a market capitalization of $30.70 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 4.68 and a beta of 1.36. The stock’s 50 day moving average price is $265.56 and its two-hundred day moving average price is $267.37. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (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 analysts’ expectations of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. Rockwell Automation’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.01 EPS. As a group, sell-side analysts anticipate that Rockwell Automation, Inc. will post 9.65 earnings per share for the current fiscal year.

Rockwell Automation declared that its board has initiated a stock repurchase plan on Thursday, September 5th that allows the company to repurchase $1.00 billion in outstanding 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 generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wells Fargo & Company raised their price target on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Oppenheimer raised their target price on shares of Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Barclays reduced their price target on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Redburn Atlantic initiated coverage on shares of Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 price objective for the company. Finally, Bank of America upped their target price on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Three research 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 data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.