UMB Bank n.a. Reduces Position in Rockwell Automation, Inc. (NYSE:ROK)

UMB Bank n.a. decreased its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 10.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,141 shares of the industrial products company’s stock after selling 621 shares during the period. UMB Bank n.a.’s holdings in Rockwell Automation were worth $1,380,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ROK. Pathway Financial Advisers LLC acquired a new stake in shares of Rockwell Automation during the first quarter worth $26,000. Riverview Trust Co acquired a new stake in shares of Rockwell Automation during the first quarter worth $28,000. ESL Trust Services LLC acquired a new stake in shares of Rockwell Automation during the first quarter worth $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Rockwell Automation during the second quarter worth $36,000. Finally, Cooksen Wealth LLC acquired a new stake in shares of Rockwell Automation during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ROK. 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, October 7th. 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. TD Cowen decreased their price objective on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Barclays reduced their target price on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Finally, Oppenheimer reduced 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. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $283.60.

Rockwell Automation Trading Up 1.1 %

Shares of ROK opened at $271.16 on Friday. The stock’s 50-day moving average is $262.56 and its two-hundred day moving average is $268.26. The stock has a market cap of $30.77 billion, a PE ratio of 30.81, a P/E/G ratio of 4.64 and a beta of 1.36. Rockwell Automation, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76. 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 (NYSE:ROK) last issued 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 analysts’ expectations of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.01 earnings per share. Equities analysts forecast that Rockwell Automation, Inc. will post 9.67 earnings per share for the current fiscal year.

Rockwell Automation announced that its Board of Directors has initiated a share buyback program 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 purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.