Rockwell Automation Inc. (ROK) Shares Gap Up to $115.70
Rockwell Automation Inc. (NYSE:ROK) shares gapped up prior to trading on Monday . The stock had previously closed at $115.50, but opened at $115.70. Rockwell Automation shares last traded at $117.88, with a volume of 474,900 shares trading hands.
Several research analysts have recently issued reports on ROK shares. Zacks Investment Research upgraded shares of Rockwell Automation from a “sell” rating to a “hold” rating in a report on Monday, March 14th. Morgan Stanley increased their price objective on shares of Rockwell Automation from $91.00 to $101.00 in a report on Thursday, April 7th. Citigroup Inc. reiterated a “hold” rating and issued a $120.00 price objective (up from $95.00) on shares of Rockwell Automation in a report on Tuesday, April 19th. Gabelli cut shares of Rockwell Automation from a “buy” rating to a “hold” rating in a report on Thursday, April 21st. Finally, Ladenburg Thalmann cut shares of Rockwell Automation from a “buy” rating to a “neutral” rating in a report on Thursday, April 28th. Seven investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $107.27.
The stock has a 50 day moving average price of $115.67 and a 200-day moving average price of $108.28. The company has a market capitalization of $15.31 billion and a P/E ratio of 20.64.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.33 by $0.04. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.40 billion. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.59 EPS. Analysts expect that Rockwell Automation Inc. will post $5.91 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Monday, August 15th will be given a dividend of $0.725 per share. This represents a $2.90 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Thursday, August 11th.
In other news, Director Donald R. Parfet sold 4,674 shares of Rockwell Automation stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $111.08, for a total transaction of $519,187.92. Following the completion of the sale, the director now owns 8,854 shares in the company, valued at approximately $983,502.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Douglas M. Hagerman sold 1,800 shares of Rockwell Automation stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $115.11, for a total transaction of $207,198.00. The disclosure for this sale can be found here.
Several large investors have modified their holdings of ROK. Advantus Capital Management Inc boosted its stake in shares of Rockwell Automation by 0.5% in the fourth quarter. Advantus Capital Management Inc now owns 12,774 shares of the company’s stock valued at $1,311,000 after buying an additional 65 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Rockwell Automation by 262.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 13,513 shares of the company’s stock valued at $1,387,000 after buying an additional 9,780 shares in the last quarter. GAM Holding AG boosted its stake in shares of Rockwell Automation by 15.9% in the fourth quarter. GAM Holding AG now owns 16,895 shares of the company’s stock valued at $1,734,000 after buying an additional 2,313 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its position in shares of Rockwell Automation by 6.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 17,771 shares of the company’s stock worth $1,823,000 after buying an additional 1,037 shares in the last quarter. Finally, Mandatum Life Insurance Co Ltd purchased a new position in shares of Rockwell Automation during the fourth quarter worth about $2,748,000.
Rockwell Automation, Inc (Rockwell Automation), is a provider of industrial automation power, control and information solutions that help manufacturers achieve a competitive advantage for their businesses. The Company operates in two segments: Architecture & Software, which deals in hardware, software and communication components of the organization, and controls Products & Solutions that handles a portfolio of intelligent motor control and industrial control products, application expertise and project management capabilities.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.