Citigroup Inc. restated their neutral rating on shares of Rockwell Automation, Inc. (NYSE:ROK) in a research report report published on Monday. They currently have a $187.00 target price on the industrial products company’s stock, up from their prior target price of $175.00.
Several other equities analysts have also issued reports on ROK. BidaskClub raised Rockwell Automation from a hold rating to a buy rating in a research note on Tuesday, June 20th. Cowen and Company upped their price target on Rockwell Automation from $125.00 to $140.00 and gave the company a market perform rating in a research note on Thursday, July 6th. Wolfe Research started coverage on Rockwell Automation in a research note on Tuesday, July 11th. They set a peer perform rating on the stock. Zacks Investment Research upgraded Rockwell Automation from a hold rating to a buy rating and set a $184.00 price objective for the company in a report on Tuesday, July 11th. Finally, Stifel Nicolaus reiterated a hold rating and issued a $167.00 price objective on shares of Rockwell Automation in a report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $163.43.
Rockwell Automation (ROK) opened at 183.75 on Monday. The company’s 50-day moving average price is $172.21 and its 200-day moving average price is $162.97. Rockwell Automation has a 12-month low of $115.09 and a 12-month high of $184.14. The firm has a market capitalization of $23.59 billion, a price-to-earnings ratio of 29.63 and a beta of 1.19.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.12. Rockwell Automation had a return on equity of 40.71% and a net margin of 13.04%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts expect that Rockwell Automation will post $6.76 EPS for the current fiscal year.
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In related news, SVP Sujeet Chand sold 9,500 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $165.13, for a total transaction of $1,568,735.00. Following the completion of the transaction, the senior vice president now directly owns 41,273 shares in the company, valued at $6,815,410.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP John M. Miller sold 1,825 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $165.37, for a total value of $301,800.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,825 shares of company stock valued at $10,917,484. 1.65% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of ROK. BlackRock Inc. grew its holdings in shares of Rockwell Automation by 3,186.3% during the first quarter. BlackRock Inc. now owns 9,018,663 shares of the industrial products company’s stock worth $1,404,295,000 after buying an additional 8,744,232 shares in the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in shares of Rockwell Automation during the second quarter worth about $126,891,000. Ameriprise Financial Inc. grew its holdings in shares of Rockwell Automation by 277.7% during the second quarter. Ameriprise Financial Inc. now owns 1,059,003 shares of the industrial products company’s stock worth $171,517,000 after buying an additional 778,633 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Rockwell Automation by 741.5% during the second quarter. Voya Investment Management LLC now owns 695,922 shares of the industrial products company’s stock worth $112,712,000 after buying an additional 613,225 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of Rockwell Automation by 89.5% during the first quarter. TIAA CREF Investment Management LLC now owns 963,764 shares of the industrial products company’s stock worth $150,068,000 after buying an additional 455,217 shares in the last quarter. Institutional investors and hedge funds own 73.61% 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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