Stock analysts at HSBC started coverage on shares of Rockwell Automation Inc. (NYSE:ROK) in a note issued to investors on Friday. The firm set a “hold” rating and a $108.00 price target on the stock. HSBC’s target price points to a potential downside of 7.72% from the company’s current price.
Other analysts have also recently issued reports about the company. Credit Suisse Group AG reissued a “hold” rating on shares of Rockwell Automation in a report on Saturday, July 9th. Barclays PLC lowered their price objective 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. Citigroup Inc. lowered their price objective on Rockwell Automation from $120.00 to $118.00 and set a “neutral” rating on the stock in a research note on Thursday, July 28th. Canaccord Genuity lowered Rockwell Automation from a “buy” rating to a “hold” rating and set a $94.00 price objective on the stock. in a research note on Tuesday, July 26th. Finally, Zacks Investment Research upgraded Rockwell Automation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Seven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $108.41.
Rockwell Automation (NYSE:ROK) opened at 117.04 on Friday. The stock’s 50 day moving average price is $117.06 and its 200 day moving average price is $115.85. The firm has a market cap of $15.14 billion, a price-to-earnings ratio of 20.82 and a beta of 1.15. Rockwell Automation has a 52 week low of $87.53 and a 52 week high of $123.48.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.09. The business earned $1.47 billion during 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%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $1.59 EPS. On average, equities research analysts predict that Rockwell Automation will post $5.90 EPS for the current year.
In other news, SVP Frank C. Kulaszewicz sold 9,267 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $118.11, for a total value of $1,094,525.37. Following the transaction, the senior vice president now directly owns 27,607 shares of the company’s stock, valued at approximately $3,260,662.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William T. Jr/Wi Mccormick sold 686 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $117.03, for a total value of $80,282.58. Following the completion of the transaction, the director now directly owns 10,951 shares in the company, valued at $1,281,595.53. The disclosure for this sale can be found here. Company insiders own 1.54% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tredje AP fonden raised its stake in shares of Rockwell Automation by 262.5% in the second quarter. Tredje AP fonden now owns 870 shares of the company’s stock worth $100,000 after buying an additional 630 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Rockwell Automation by 0.5% in the second quarter. Checchi Capital Advisers LLC now owns 938 shares of the company’s stock worth $108,000 after buying an additional 5 shares during the last quarter. Johnson Financial Group Inc. raised its stake in shares of Rockwell Automation by 1,818.4% in the second quarter. Johnson Financial Group Inc. now owns 940 shares of the company’s stock worth $108,000 after buying an additional 891 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Rockwell Automation during the first quarter worth approximately $110,000. Finally, Citizens Financial Group Inc RI raised its stake in shares of Rockwell Automation by 20.9% in the first quarter. Citizens Financial Group Inc RI now owns 1,344 shares of the company’s stock worth $153,000 after buying an additional 232 shares during the last quarter. 74.29% of the stock is currently owned by institutional investors.
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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