Rockwell Automation, Inc. (ROK) Earns Neutral Rating from Citigroup Inc.

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.

COPYRIGHT VIOLATION WARNING: “Rockwell Automation, Inc. (ROK) Earns Neutral Rating from Citigroup Inc.” was first posted by Markets Daily and is owned by of Markets Daily. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://www.themarketsdaily.com/2017/10/12/rockwell-automation-inc-rok-earns-neutral-rating-from-citigroup-inc.html.

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.

Analyst Recommendations for Rockwell Automation (NYSE:ROK)

Receive News & Ratings for Rockwell Automation Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Automation Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply