Rockwell Automation (ROK) Now Covered by Analysts at J P Morgan Chase & Co
J P Morgan Chase & Co assumed coverage on shares of Rockwell Automation (NYSE:ROK) in a report issued on Wednesday morning. The firm issued a neutral rating on the industrial products company’s stock.
ROK has been the topic of a number of other reports. Morgan Stanley reaffirmed an equal weight rating and set a $173.00 price objective (up from $168.00) on shares of Rockwell Automation in a research note on Monday, October 2nd. Citigroup raised their price objective on Rockwell Automation from $187.00 to $200.00 and gave the company a neutral rating in a research note on Friday, November 10th. Oppenheimer reaffirmed a hold rating on shares of Rockwell Automation in a research note on Friday, August 18th. Cowen reaffirmed a hold rating and set a $140.00 price objective on shares of Rockwell Automation in a research note on Sunday, September 17th. Finally, cut Rockwell Automation from a hold rating to a reduce rating in a research note on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. Rockwell Automation presently has an average rating of Hold and a consensus target price of $165.00.
Shares of Rockwell Automation (ROK) traded up $2.07 during trading hours on Wednesday, hitting $192.20. The stock had a trading volume of 289,774 shares, compared to its average volume of 873,545. Rockwell Automation has a 52-week low of $129.66 and a 52-week high of $210.72. The company has a market capitalization of $25,331.78, a PE ratio of 29.20, a P/E/G ratio of 2.22 and a beta of 1.24. The company has a quick ratio of 1.80, a current ratio of 2.06 and a debt-to-equity ratio of 0.47.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $1.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.72 by ($0.03). Rockwell Automation had a net margin of 13.08% and a return on equity of 38.67%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the business posted $1.52 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. research analysts expect that Rockwell Automation will post 7.37 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 13th will be paid a $0.835 dividend. The ex-dividend date is Friday, November 10th. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.76. This represents a $3.34 annualized dividend and a dividend yield of 1.74%. Rockwell Automation’s dividend payout ratio (DPR) is presently 52.68%.
In related news, insider Blake D. Moret sold 1,723 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $170.06, for a total value of $293,013.38. Following the sale, the insider now directly owns 22,849 shares of the company’s stock, valued at $3,885,700.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Blake D. Moret sold 5,677 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $170.10, for a total value of $965,657.70. Following the completion of the sale, the insider now directly owns 21,426 shares in the company, valued at $3,644,562.60. The disclosure for this sale can be found here. 1.65% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Rockwell Automation by 7.5% during the 2nd quarter. BlackRock Inc. now owns 9,698,308 shares of the industrial products company’s stock valued at $1,570,735,000 after acquiring an additional 679,645 shares in the last quarter. Vanguard Group Inc. boosted its position in Rockwell Automation by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 8,769,308 shares of the industrial products company’s stock valued at $1,420,278,000 after acquiring an additional 268,101 shares in the last quarter. Lazard Asset Management LLC boosted its position in Rockwell Automation by 0.5% during the 2nd quarter. Lazard Asset Management LLC now owns 2,308,357 shares of the industrial products company’s stock valued at $373,861,000 after acquiring an additional 11,384 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Rockwell Automation by 47.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,558,748 shares of the industrial products company’s stock valued at $277,788,000 after acquiring an additional 499,745 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Rockwell Automation by 12.8% during the 3rd quarter. Wells Fargo & Company MN now owns 1,509,470 shares of the industrial products company’s stock valued at $269,003,000 after acquiring an additional 171,598 shares in the last quarter. 73.04% of the stock is currently owned by 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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