Rockwell Automation Inc. (ROK) Receives New Coverage from Analysts at Berenberg Bank
A number of other research firms have also recently commented on ROK. Zacks Investment Research upgraded Rockwell Automation from a sell rating to a hold rating in a research note on Wednesday, July 13th. Canaccord Genuity cut Rockwell Automation from a buy rating to a hold rating and set a $94.00 target price for the company. in a research note on Tuesday, July 26th. Credit Suisse Group AG restated a hold rating on shares of Rockwell Automation in a research note on Wednesday, June 22nd. Sanford C. Bernstein upgraded Rockwell Automation from an underperform rating to a market perform rating and raised their target price for the company from $105.00 to $121.00 in a research note on Friday, September 30th. Finally, Barclays PLC lowered their target price 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. Seven analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. Rockwell Automation has a consensus rating of Hold and an average price target of $108.20.
Rockwell Automation (NYSE:ROK) opened at 120.67 on Monday. Rockwell Automation has a 52 week low of $87.53 and a 52 week high of $123.48. The firm has a 50-day moving average price of $117.09 and a 200-day moving average price of $115.74. The company has a market cap of $15.61 billion, a P/E ratio of 21.47 and a beta of 1.15.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.09. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Rockwell Automation had a return on equity of 35.83% and a net margin of 12.54%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the company earned $1.59 EPS. Equities research analysts anticipate that Rockwell Automation will post $5.90 EPS for the current fiscal year.
In other Rockwell Automation news, Director William T. Jr/Wi Mccormick sold 686 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $117.03, for a total transaction of $80,282.58. Following the completion of the sale, the director now owns 10,951 shares of the company’s stock, valued at $1,281,595.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Frank C. Kulaszewicz sold 9,267 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $118.11, for a total value of $1,094,525.37. Following the sale, the senior vice president now directly owns 27,607 shares of the company’s stock, valued at approximately $3,260,662.77. The disclosure for this sale can be found here. 1.54% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in 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 in the last quarter. Lazard Asset Management LLC raised its stake in 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 in the last quarter. BlackRock Fund Advisors raised its stake in 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 in the last quarter. Geode Capital Management LLC raised its stake in 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 in the last quarter. Finally, BlackRock Group LTD raised its stake in 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 in the last quarter. 74.29% of the stock is owned by institutional investors and hedge funds.
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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