Rockwell Automation’s (ROK) Hold Rating Reaffirmed at Cowen and Company
Cowen and Company reiterated their hold rating on shares of Rockwell Automation, Inc. (NYSE:ROK) in a research report sent to investors on Sunday morning. The brokerage currently has a $140.00 target price on the industrial products company’s stock.
ROK has been the topic of several other research reports. Credit Suisse Group reduced their price target on shares of Rockwell Automation from $155.00 to $154.00 and set a neutral rating on the stock in a research report on Wednesday, August 23rd. Zacks Investment Research raised shares of Rockwell Automation from a hold rating to a buy rating and set a $182.00 price target on the stock in a research report on Friday, July 28th. J P Morgan Chase & Co upgraded shares of Rockwell Automation from an underweight rating to a neutral rating and set a $153.00 target price for the company in a report on Thursday, July 27th. BidaskClub upgraded shares of Rockwell Automation from a hold rating to a buy rating in a report on Saturday, July 8th. Finally, HSBC Holdings plc reiterated a hold rating and issued a $147.00 target price (up previously from $134.00) on shares of Rockwell Automation in a report on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $152.27.
Rockwell Automation (NYSE ROK) opened at 173.73 on Friday. The company has a market cap of $22.30 billion, a PE ratio of 28.02 and a beta of 1.16. Rockwell Automation has a 1-year low of $113.27 and a 1-year high of $174.18. The stock’s 50 day moving average price is $164.14 and its 200-day moving average price is $159.63.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.12. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Rockwell Automation had a net margin of 13.04% and a return on equity of 40.71%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.55 EPS. On average, analysts forecast that Rockwell Automation will post $6.75 earnings per share for the current year.
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In related news, Director Keith D. Nosbusch sold 20,000 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $165.50, for a total transaction of $3,310,000.00. Following the completion of the transaction, the director now directly owns 411,286 shares of the company’s stock, valued at $68,067,833. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Blake D. Moret sold 1,723 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $170.06, for a total transaction of $293,013.38. Following the transaction, the insider now directly owns 22,849 shares of the company’s stock, valued at $3,885,700.94. The disclosure for this sale can be found here. Insiders sold 65,825 shares of company stock valued at $10,917,484 over the last ninety days. Corporate insiders own 1.65% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ROK. Jacobus Wealth Management Inc. purchased a new position in Rockwell Automation during the first quarter worth about $104,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in Rockwell Automation by 1,700.0% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 720 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 680 shares in the last quarter. Acrospire Investment Management LLC raised its holdings in Rockwell Automation by 166.3% during the second quarter. Acrospire Investment Management LLC now owns 799 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 499 shares in the last quarter. Sun Life Financial INC raised its holdings in Rockwell Automation by 8,490.9% during the second quarter. Sun Life Financial INC now owns 945 shares of the industrial products company’s stock worth $153,000 after purchasing an additional 934 shares in the last quarter. Finally, Clarkston Capital Partners LLC purchased a new position in Rockwell Automation during the second quarter worth about $206,000. 73.61% of the stock is owned by hedge funds and other institutional investors.
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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