Rockwell Automation, Inc. (NYSE:ROK) Shares Purchased by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 11.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,130 shares of the industrial products company’s stock after acquiring an additional 117 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Rockwell Automation were worth $303,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new stake in Rockwell Automation during the 1st quarter worth about $26,000. Riverview Trust Co purchased a new stake in Rockwell Automation during the 1st quarter worth about $28,000. ESL Trust Services LLC purchased a new stake in Rockwell Automation during the 1st quarter worth about $29,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Rockwell Automation in the 2nd quarter valued at about $36,000. Finally, Cooksen Wealth LLC purchased a new position in shares of Rockwell Automation in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on ROK shares. Morgan Stanley started coverage on Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Bank of America dropped their price objective on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Redburn Atlantic began coverage on Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $283.60.

Rockwell Automation Stock Performance

Shares of ROK opened at $268.15 on Friday. The company has a market capitalization of $30.57 billion, a PE ratio of 26.21, a P/E/G ratio of 4.64 and a beta of 1.36. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The company has a 50-day simple moving average of $262.49 and a 200-day simple moving average of $268.27. 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 announced its quarterly earnings results 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 business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business posted $3.01 earnings per share. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities research analysts predict that Rockwell Automation, Inc. will post 9.67 earnings per share for the current fiscal year.

Rockwell Automation declared that its board has initiated a share buyback plan on Thursday, September 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management 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.