Rockwell Automation (NYSE:ROK) Trading Down 4.5%

Rockwell Automation, Inc. (NYSE:ROK)’s share price traded down 4.5% during mid-day trading on Wednesday . The company traded as low as $249.32 and last traded at $250.17. 448,061 shares were traded during mid-day trading, a decline of 51% from the average session volume of 920,759 shares. The stock had previously closed at $261.99.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. TD Cowen cut their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Redburn Atlantic assumed coverage on shares of Rockwell Automation in a research note on Monday, July 8th. They issued a “neutral” rating and a $256.00 price objective for the company. Robert W. Baird cut their price objective on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Oppenheimer cut their price objective on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Barclays dropped 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. Three research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $282.80.

Rockwell Automation Stock Down 2.3 %

The firm has a market capitalization of $29.18 billion, a P/E ratio of 25.61, a P/E/G ratio of 4.55 and a beta of 1.37. The company has a fifty day simple moving average of $266.23 and a 200 day simple moving average of $271.21. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73.

Rockwell Automation (NYSE:ROK) 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 the consensus estimate 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%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.01 EPS. On average, equities analysts expect that Rockwell Automation, Inc. will post 9.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Rockwell Automation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cannon Financial Strategists Inc. bought a new stake in shares of Rockwell Automation during the 2nd quarter valued at about $313,000. Sanctuary Advisors LLC bought a new stake in shares of Rockwell Automation during the 2nd quarter valued at about $3,729,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Rockwell Automation during the 2nd quarter valued at about $36,000. Cetera Investment Advisers grew its stake in shares of Rockwell Automation by 0.7% during the 2nd quarter. Cetera Investment Advisers now owns 27,511 shares of the industrial products company’s stock valued at $7,573,000 after purchasing an additional 204 shares during the period. Finally, EP Wealth Advisors LLC grew its stake in shares of Rockwell Automation by 8.0% during the 2nd quarter. EP Wealth Advisors LLC now owns 83,195 shares of the industrial products company’s stock valued at $22,902,000 after purchasing an additional 6,164 shares during the period. 75.75% of the stock is owned by institutional investors.

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.