Citigroup Inc. Raises Rockwell Automation Inc. (ROK) Price Target to $122.00
Rockwell Automation Inc. (NYSE:ROK) had its price target hoisted by stock analysts at Citigroup Inc. from $118.00 to $122.00 in a report issued on Monday. The brokerage currently has a “neutral” rating on the stock. Citigroup Inc.’s target price points to a potential upside of 1.92% from the company’s current price.
Several other brokerages have also issued reports on ROK. Berenberg Bank began coverage on Rockwell Automation in a research note on Monday, October 3rd. They set a “sell” rating and a $110.00 price target for the company. HSBC began coverage on Rockwell Automation in a research note on Friday. They set a “hold” rating and a $108.00 price target for the company. Zacks Investment Research lowered Rockwell Automation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Canaccord Genuity lowered Rockwell Automation from a “buy” rating to a “hold” rating and set a $94.00 price target for the company. in a research note on Tuesday, July 26th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating on shares of Rockwell Automation in a research note on Wednesday, June 22nd. Seven analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $108.41.
Rockwell Automation (NYSE:ROK) traded down 1.76% during midday trading on Monday, reaching $117.59. The company had a trading volume of 604,486 shares. The stock has a market capitalization of $15.22 billion, a price-to-earnings ratio of 20.92 and a beta of 1.15. The company has a 50-day moving average price of $117.10 and a 200-day moving average price of $115.78. Rockwell Automation has a one year low of $87.53 and a one year high of $123.48.
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Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.09. Rockwell Automation had a return on equity of 35.83% and a net margin of 12.54%. The firm earned $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the company posted $1.59 earnings per share. The company’s revenue was down 6.4% compared to the same quarter last year. On average, equities analysts expect 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 company’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $121.54, for a total value of $218,772.00. Following the sale, the vice president now owns 8,286 shares in the company, valued at approximately $1,007,080.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Frank C. Kulaszewicz sold 9,267 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $118.11, for a total value of $1,094,525.37. Following the completion of the sale, the senior vice president now owns 27,607 shares in the company, valued at approximately $3,260,662.77. The disclosure for this sale can be found here. Company insiders own 1.54% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Alecta Pensionsforsakring Omsesidigt bought a new stake in Rockwell Automation during the first quarter valued at $339,089,000. Norges Bank bought a new stake in Rockwell Automation during the fourth quarter valued at $87,968,000. Ameriprise Financial Inc. increased its stake in Rockwell Automation by 41.2% in the fourth quarter. Ameriprise Financial Inc. now owns 2,367,419 shares of the company’s stock valued at $242,927,000 after buying an additional 691,210 shares during the last quarter. Winton Capital Group Ltd increased its stake in Rockwell Automation by 628.6% in the fourth quarter. Winton Capital Group Ltd now owns 791,271 shares of the company’s stock valued at $81,192,000 after buying an additional 682,672 shares during the last quarter. Finally, BlackRock Advisors LLC increased its stake in Rockwell Automation by 167.4% in the second quarter. BlackRock Advisors LLC now owns 787,979 shares of the company’s stock valued at $90,475,000 after buying an additional 493,246 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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