Rockwell Automation Inc. (ROK) Rating Lowered to Hold at Canaccord Genuity
Rockwell Automation Inc. (NYSE:ROK) was downgraded by equities research analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday. They presently have a $94.00 price target on the stock. Canaccord Genuity’s price target would indicate a potential downside of 21.47% from the stock’s previous close.
ROK has been the topic of a number of other reports. Morgan Stanley increased their price objective on shares of Rockwell Automation from $91.00 to $101.00 in a research report on Thursday, April 7th. Zacks Investment Research raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a research report on Monday, April 18th. Barclays PLC reissued an “equal weight” rating and issued a $120.00 price objective (up from $104.00) on shares of Rockwell Automation in a research report on Thursday, April 28th. Gabelli downgraded shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Thursday, April 21st. Finally, Citigroup Inc. reissued a “hold” rating and issued a $120.00 price objective (up from $95.00) on shares of Rockwell Automation in a research report on Tuesday, April 19th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $108.19.
Rockwell Automation (NYSE:ROK) traded down 0.80% on Tuesday, reaching $119.70. 887,225 shares of the company were exchanged. Rockwell Automation has a 52 week low of $87.53 and a 52 week high of $123.48. The stock has a 50-day moving average price of $117.10 and a 200 day moving average price of $115.78. The stock has a market capitalization of $15.49 billion, a price-to-earnings ratio of 21.30 and a beta of 1.15.
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Rockwell Automation (NYSE:ROK) last released its earnings results 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 company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Rockwell Automation had a net margin of 12.54% and a return on equity of 35.83%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.59 EPS. Analysts forecast that Rockwell Automation will post $5.90 earnings per share for the current year.
In related news, VP Steven W. Etzel sold 1,800 shares of the firm’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $121.54, for a total value of $218,772.00. Following the completion of the sale, the vice president now owns 8,286 shares in the company, valued at $1,007,080.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William T. Jr/Wi Mccormick sold 686 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were 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 approximately $1,281,595.53. The disclosure for this sale can be found here. 1.54% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Tredje AP fonden boosted its stake in shares of Rockwell Automation by 262.5% in the second quarter. Tredje AP fonden now owns 870 shares of the company’s stock valued at $100,000 after buying an additional 630 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of Rockwell Automation by 0.5% in the second quarter. Checchi Capital Advisers LLC now owns 938 shares of the company’s stock valued at $108,000 after buying an additional 5 shares during the period. Johnson Financial Group Inc. boosted its stake in shares of Rockwell Automation by 1,818.4% in the second quarter. Johnson Financial Group Inc. now owns 940 shares of the company’s stock valued at $108,000 after buying an additional 891 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Rockwell Automation during the first quarter valued at approximately $110,000. Finally, Citizens Financial Group Inc RI boosted its stake in shares of Rockwell Automation by 20.9% in the first quarter. Citizens Financial Group Inc RI now owns 1,344 shares of the company’s stock valued at $153,000 after buying an additional 232 shares during the period. Hedge funds and other 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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