Legend Financial Advisors Inc. Sells 37 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Legend Financial Advisors Inc. lessened its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 19.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150 shares of the industrial products company’s stock after selling 37 shares during the period. Legend Financial Advisors Inc.’s holdings in Rockwell Automation were worth $40,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hazlett Burt & Watson Inc. boosted its stake in shares of Rockwell Automation by 17.5% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 248 shares of the industrial products company’s stock worth $72,000 after buying an additional 37 shares during the last quarter. CreativeOne Wealth LLC boosted its position in Rockwell Automation by 3.0% in the first quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 37 shares during the last quarter. Mather Group LLC. grew its stake in Rockwell Automation by 5.9% in the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock valued at $198,000 after purchasing an additional 38 shares during the period. Pure Financial Advisors LLC increased its position in shares of Rockwell Automation by 2.7% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock valued at $444,000 after purchasing an additional 42 shares during the last quarter. Finally, Pitcairn Co. raised its stake in shares of Rockwell Automation by 4.2% during the 1st quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 44 shares during the period. 75.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ROK. Barclays reduced their price target on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Robert W. Baird decreased their target price on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Oppenheimer increased their price target on Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Redburn Atlantic started coverage on shares of Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 price objective on the stock. Finally, Mizuho lifted their price objective on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday. Three 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $286.47.

Rockwell Automation Stock Up 0.1 %

Shares of NYSE:ROK opened at $272.82 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04. The firm has a fifty day moving average of $264.95 and a 200 day moving average of $267.67. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The firm has a market capitalization of $31.10 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 4.64 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.63. The company had revenue of $2.05 billion during 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%. Rockwell Automation’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.01 EPS. As a group, research analysts anticipate that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation declared that its Board of Directors has approved a share buyback program on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Rockwell Automation Company Profile

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.