Rockwell Automation Inc. (ROK) Sees Strong Trading Volume
Rockwell Automation Inc. (NYSE:ROK) saw an uptick in trading volume on Friday . 801,714 shares were traded during trading, a decline of 0% from the previous session’s volume of 802,275 shares.The stock last traded at $118.00 and had previously closed at $119.31.
A number of research analysts recently issued reports on ROK shares. Citigroup Inc. cut their price objective on Rockwell Automation from $120.00 to $118.00 and set a “neutral” rating for the company in a research note on Thursday, July 28th. Barclays PLC cut their price objective on Rockwell Automation from $120.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, July 28th. Canaccord Genuity downgraded Rockwell Automation from a “buy” rating to a “hold” rating and set a $94.00 price objective for the company. in a research note on Tuesday, July 26th. Zacks Investment Research upgraded Rockwell Automation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Credit Suisse Group AG reiterated a “hold” rating on shares of Rockwell Automation in a research note on Saturday, July 9th. Six equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. Rockwell Automation has a consensus rating of “Hold” and a consensus target price of $106.25.
The firm’s 50 day moving average is $117.30 and its 200-day moving average is $112.49. The company has a market cap of $15.32 billion and a P/E ratio of 21.07.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.09. During the same quarter in the prior year, the business posted $1.59 earnings per share. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. The firm’s revenue was down 6.4% compared to the same quarter last year. Equities research analysts forecast that Rockwell Automation Inc. will post $5.90 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Investors 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 yield of 2.45%. The ex-dividend date is Thursday, August 11th.
In other news, CFO Theodore D. Crandall sold 5,404 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $118.49, for a total value of $640,319.96. Following the completion of the sale, the chief financial officer now directly owns 98,135 shares in the company, valued at $11,628,016.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Douglas M. Hagerman sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $119.30, for a total value of $715,800.00. Following the completion of the sale, the vice president now owns 40,227 shares of the company’s stock, valued at $4,799,081.10. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Rockwell Automation stock. BNP Paribas Arbitrage SA raised its position in shares of Rockwell Automation Inc. (NYSE:ROK) by 433.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,615 shares of the company’s stock after buying an additional 24,877 shares during the period. BNP Paribas Arbitrage SA’s holdings in Rockwell Automation were worth $3,141,000 as of its most recent SEC filing.
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.
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