Equities researchers at Berenberg Bank began coverage on shares of Rockwell Automation Inc. (NYSE:ROK) in a research report issued on Monday. The brokerage set a “sell” rating on the stock.
Other equities research analysts also recently issued research reports about the company. Sanford C. Bernstein raised Rockwell Automation from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $105.00 to $121.00 in a report on Friday. Credit Suisse Group AG reissued a “hold” rating on shares of Rockwell Automation in a report on Saturday, July 9th. Barclays PLC dropped their target price on Rockwell Automation from $120.00 to $118.00 and set an “equal weight” rating for the company in a report on Thursday, July 28th. Citigroup Inc. dropped their target price on Rockwell Automation from $120.00 to $118.00 and set a “neutral” rating for the company in a report on Thursday, July 28th. Finally, Canaccord Genuity downgraded Rockwell Automation from a “buy” rating to a “hold” rating and set a $94.00 target price for the company. in a report on Tuesday, July 26th. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $108.08.
Shares of Rockwell Automation (NYSE:ROK) opened at 122.34 on Monday. Rockwell Automation has a one year low of $87.53 and a one year high of $123.11. The firm’s 50-day moving average is $116.88 and its 200-day moving average is $115.46. The company has a market cap of $15.83 billion, a price-to-earnings ratio of 21.76 and a beta of 1.15.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.09. Rockwell Automation had a return on equity of 35.83% and a net margin of 12.54%. The business earned $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm posted $1.59 EPS. The company’s quarterly revenue was down 6.4% on a year-over-year basis. Analysts expect that Rockwell Automation will post $5.90 EPS for the current fiscal year.
In related news, Director William T. Jr/Wi Mccormick sold 686 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $117.03, for a total value of $80,282.58. Following the sale, the director now directly owns 10,951 shares in the company, valued at $1,281,595.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Douglas M. Hagerman sold 1,400 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $119.17, for a total value of $166,838.00. Following the completion of the sale, the vice president now owns 32,091 shares in the company, valued at $3,824,284.47. The disclosure for this sale can be found here. Insiders own 1.54% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ROK. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Rockwell Automation during the first quarter valued at approximately $213,000. Ngam Advisors L.P. acquired a new position in shares of Rockwell Automation during the first quarter valued at about $5,762,000. TIAA CREF Investment Management LLC raised its position in shares of Rockwell Automation by 1.3% in the first quarter. TIAA CREF Investment Management LLC now owns 416,952 shares of the company’s stock valued at $47,428,000 after buying an additional 5,186 shares during the period. Stratos Wealth Partners LTD. acquired a new position in shares of Rockwell Automation during the first quarter valued at about $226,000. Finally, Prudential Financial Inc. raised its position in shares of Rockwell Automation by 6.5% in the first quarter. Prudential Financial Inc. now owns 176,788 shares of the company’s stock valued at $20,110,000 after buying an additional 10,800 shares during the period. Institutional investors and hedge funds own 74.29% of the company’s stock.
About Rockwell Automation
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
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