A number of other brokerages have also recently weighed in on ROK. Barclays PLC dropped their price target on Rockwell Automation from $120.00 to $118.00 and set an equal weight rating on the stock in a research note on Thursday, July 28th. Zacks Investment Research lowered Rockwell Automation from a hold rating to a sell rating in a research report on Wednesday, June 29th. Credit Suisse Group AG restated a hold rating on shares of Rockwell Automation in a research report on Wednesday, June 22nd. Citigroup Inc. decreased their price objective on Rockwell Automation from $120.00 to $118.00 and set a neutral rating for the company in a research report on Thursday, July 28th. Finally, Canaccord Genuity lowered Rockwell Automation from a buy rating to a hold rating and set a $94.00 price objective for the company. in a research report on Tuesday, July 26th. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $108.20.
Shares of Rockwell Automation (NYSE:ROK) opened at 120.57 on Wednesday. The firm has a market cap of $15.60 billion, a P/E ratio of 21.45 and a beta of 1.15. Rockwell Automation has a 52-week low of $87.53 and a 52-week high of $123.11. The company’s 50-day moving average is $116.96 and its 200-day moving average is $115.62.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.09. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Rockwell Automation had a return on equity of 35.83% and a net margin of 12.54%. Rockwell Automation’s revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the business posted $1.59 EPS. Equities research analysts forecast that Rockwell Automation will post $5.90 earnings per share for the current fiscal year.
In other news, SVP Frank C. Kulaszewicz sold 9,267 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $118.11, for a total transaction of $1,094,525.37. Following the sale, the senior vice president now directly owns 27,607 shares in the company, valued at $3,260,662.77. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William T. Jr/Wi Mccormick sold 686 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $117.03, for a total value of $80,282.58. Following the sale, the director now owns 10,951 shares in the company, valued at $1,281,595.53. The disclosure for this sale can be found here. 1.54% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in ROK. Park National Corp OH boosted its stake in Rockwell Automation by 0.5% in the third quarter. Park National Corp OH now owns 1,863 shares of the company’s stock worth $228,000 after buying an additional 10 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Rockwell Automation during the second quarter worth about $604,000. Kentucky Retirement Systems purchased a new stake in Rockwell Automation during the second quarter worth about $1,272,000. KAMES CAPITAL plc boosted its stake in Rockwell Automation by 90.5% in the second quarter. KAMES CAPITAL plc now owns 382,124 shares of the company’s stock worth $43,872,000 after buying an additional 181,546 shares in the last quarter. Finally, Mason Street Advisors LLC purchased a new stake in Rockwell Automation during the second quarter worth about $2,015,000. Institutional investors and hedge funds own 74.29% of the company’s stock.
Rockwell Automation Company Profile
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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