Rockwell Automation Inc. (ROK) Price Target Raised to $122.00
Rockwell Automation Inc. (NYSE:ROK) had its target price boosted by stock analysts at Citigroup Inc. from $118.00 to $122.00 in a research note 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.
Other research analysts also recently issued research reports about the stock. Barclays PLC reduced their price target on shares of Rockwell Automation from $120.00 to $118.00 and set an “equal weight” rating for the company in a research report on Thursday, July 28th. Credit Suisse Group AG restated a “hold” rating on shares of Rockwell Automation in a research report on Wednesday, June 22nd. Canaccord Genuity downgraded shares of Rockwell Automation from a “buy” rating to a “hold” rating and set a $94.00 price target for the company. in a research report on Tuesday, July 26th. Zacks Investment Research upgraded shares of Rockwell Automation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, HSBC initiated coverage on shares of Rockwell Automation in a research report on Friday. They set a “hold” rating and a $108.00 price target for the company. Seven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. Rockwell Automation has an average rating of “Hold” and an average target price of $108.41.
Shares of Rockwell Automation (NYSE:ROK) traded down 1.78% on Monday, hitting $117.57. The company’s stock had a trading volume of 610,312 shares. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 20.92 and a beta of 1.15. The stock 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 posted its earnings results on Wednesday, July 27th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.09. Rockwell Automation had a net margin of 12.54% and a return on equity of 35.83%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the company posted $1.59 EPS. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. Equities research analysts predict that Rockwell Automation will post $5.90 EPS for the current year.
In other Rockwell Automation news, VP Douglas M. Hagerman sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $119.01, for a total value of $416,535.00. Following the completion of the transaction, the vice president now owns 32,727 shares of the company’s stock, valued at approximately $3,894,840.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Frank C. Kulaszewicz sold 9,267 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $118.11, for a total transaction of $1,094,525.37. Following the completion of the transaction, 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. Corporate insiders own 1.54% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Rockwell Automation during the first quarter valued at approximately $213,000. TIAA CREF Investment Management LLC raised its stake in shares of Rockwell Automation by 1.3% in the first quarter. TIAA CREF Investment Management LLC now owns 416,952 shares of the company’s stock worth $47,428,000 after buying an additional 5,186 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Rockwell Automation by 6.5% in the first quarter. Prudential Financial Inc. now owns 176,788 shares of the company’s stock worth $20,110,000 after buying an additional 10,800 shares during the last quarter. Columbia Partners L L C Investment Management raised its stake in shares of Rockwell Automation by 6.5% in the first quarter. Columbia Partners L L C Investment Management now owns 7,782 shares of the company’s stock worth $885,000 after buying an additional 474 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Rockwell Automation by 7.2% in the first quarter. Bessemer Group Inc. now owns 2,197 shares of the company’s stock worth $249,000 after buying an additional 147 shares during the last quarter. 74.29% of the stock is 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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