EP Wealth Advisors LLC Buys 6,164 Shares of Rockwell Automation, Inc. (NYSE:ROK)

EP Wealth Advisors LLC lifted its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 8.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 83,195 shares of the industrial products company’s stock after acquiring an additional 6,164 shares during the period. EP Wealth Advisors LLC owned approximately 0.07% of Rockwell Automation worth $22,902,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new position in Rockwell Automation during the first quarter valued at approximately $26,000. Riverview Trust Co bought a new position in shares of Rockwell Automation during the 1st quarter valued at $28,000. ESL Trust Services LLC purchased a new position in Rockwell Automation in the 1st quarter worth $29,000. Security National Bank purchased a new stake in Rockwell Automation during the fourth quarter valued at about $40,000. Finally, Cooksen Wealth LLC purchased a new stake in Rockwell Automation during the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Down 0.2 %

NYSE:ROK opened at $270.61 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68. The firm’s 50-day moving average price is $263.49 and its 200-day moving average price is $269.03. The company has a market capitalization of $30.85 billion, a PE ratio of 26.45, a P/E/G ratio of 4.64 and a beta of 1.37. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, beating 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 company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the company earned $3.01 EPS. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, equities analysts predict that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation announced that its board has authorized 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 purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Oppenheimer lowered their target price on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Redburn Atlantic began coverage on shares of Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price on the stock. Bank of America lowered their price target on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. 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. Finally, Morgan Stanley initiated coverage on shares of Rockwell Automation in a research note on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective for the company. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Rockwell Automation presently has an average rating of “Hold” and a consensus price target of $282.80.

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.