Rockwell Automation Inc. (ROK) Upgraded to “Market Perform” by Sanford C. Bernstein
Sanford C. Bernstein upgraded shares of Rockwell Automation Inc. (NYSE:ROK) from an underperform rating to a market perform rating in a research note published on Friday. Sanford C. Bernstein currently has $121.00 target price on the stock, up from their prior target price of $105.00.
A number of other research analysts also recently issued reports on the company. Morgan Stanley set a $109.00 price objective on Rockwell Automation and gave the stock a sell rating in a report on Wednesday, September 28th. Citigroup Inc. decreased their price objective on Rockwell Automation from $120.00 to $118.00 and set a neutral rating for the company in a report on Thursday, July 28th. Barclays PLC decreased their price objective on Rockwell Automation from $120.00 to $118.00 and set an equal weight rating for the company in a report on Thursday, July 28th. Canaccord Genuity cut Rockwell Automation from a buy rating to a hold rating and set a $94.00 price target for the company. in a research report on Tuesday, July 26th. Finally, Zacks Investment Research raised Rockwell Automation from a sell rating to a hold rating in a research report on Wednesday, July 13th. Six research 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. Rockwell Automation has a consensus rating of Hold and an average target price of $108.20.
Shares of Rockwell Automation (NYSE:ROK) traded down 0.89% during trading on Friday, reaching $121.25. The company had a trading volume of 380,203 shares. Rockwell Automation has a 12 month low of $87.53 and a 12 month high of $123.11. The firm has a market capitalization of $15.69 billion, a PE ratio of 21.57 and a beta of 1.15. The stock has a 50 day moving average price of $116.88 and a 200 day moving average price of $115.46.
Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.09. The business earned $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Rockwell Automation had a return on equity of 35.83% and a net margin of 12.54%. Rockwell Automation’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the company earned $1.59 earnings per share. On average, equities research analysts forecast that Rockwell Automation will post $5.90 EPS for the current year.
In other news, VP Douglas M. Hagerman sold 3,500 shares of Rockwell Automation stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $119.01, for a total value of $416,535.00. Following the transaction, the vice president now owns 32,727 shares in the company, valued at approximately $3,894,840.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Douglas M. Hagerman sold 1,400 shares of Rockwell Automation stock in a transaction on Friday, August 26th. The shares were sold at an average price of $119.17, for a total value of $166,838.00. Following the completion of the transaction, the vice president now owns 32,091 shares in the company, valued at approximately $3,824,284.47. The disclosure for this sale can be found here. Company insiders own 1.54% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Rockwell Automation by 0.8% in the second quarter. Vanguard Group Inc. now owns 7,919,804 shares of the company’s stock valued at $909,351,000 after buying an additional 64,944 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Rockwell Automation by 7.1% in the first quarter. Lazard Asset Management LLC now owns 4,257,988 shares of the company’s stock valued at $484,345,000 after buying an additional 280,916 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Rockwell Automation by 2.7% in the second quarter. BlackRock Fund Advisors now owns 2,121,240 shares of the company’s stock valued at $243,561,000 after buying an additional 55,189 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Rockwell Automation by 5.1% in the first quarter. Geode Capital Management LLC now owns 1,137,963 shares of the company’s stock valued at $129,194,000 after buying an additional 55,683 shares during the last quarter. Finally, BlackRock Group LTD raised its position in shares of Rockwell Automation by 2.3% in the second quarter. BlackRock Group LTD now owns 1,075,498 shares of the company’s stock valued at $123,490,000 after buying an additional 23,688 shares during the last quarter. Institutional investors own 74.29% of the company’s stock.
About Rockwell Automation
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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