Rockwell Automation, Inc. (ROK) Stock Rating Reaffirmed by HSBC Holdings plc
Rockwell Automation, Inc. (NYSE:ROK)‘s stock had its “hold” rating reiterated by equities research analysts at HSBC Holdings plc in a note issued to investors on Saturday. They presently have a $147.00 target price on the industrial products company’s stock, up from their prior target price of $134.00. HSBC Holdings plc’s target price would suggest a potential downside of 10.95% from the company’s current price.
ROK has been the topic of several other reports. Barclays PLC lifted their price target on Rockwell Automation from $166.00 to $167.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 19th. Zacks Investment Research cut Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Gabelli raised Rockwell Automation from a “sell” rating to a “hold” rating in a research note on Wednesday, April 19th. Stifel Nicolaus lifted their price target on Rockwell Automation from $159.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Finally, Wolfe Research assumed coverage on Rockwell Automation in a research note on Tuesday, July 11th. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. Rockwell Automation has a consensus rating of “Hold” and a consensus price target of $148.53.
Shares of Rockwell Automation (ROK) traded down 1.05% during trading on Friday, reaching $165.08. 633,564 shares of the company’s stock were exchanged. The stock has a market cap of $21.27 billion, a P/E ratio of 27.55 and a beta of 1.17. The company has a 50 day moving average of $162.60 and a 200 day moving average of $154.71. Rockwell Automation has a 12-month low of $111.52 and a 12-month high of $167.97.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.15. Rockwell Automation had a net margin of 12.88% and a return on equity of 39.71%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the business earned $1.37 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Rockwell Automation will post $6.66 EPS for the current year.
In other news, VP Steven W. Etzel sold 3,000 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $158.54, for a total transaction of $475,620.00. Following the sale, the vice president now owns 9,465 shares in the company, valued at $1,500,581.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Betty C. Alewine sold 7,173 shares of the stock in a transaction on Friday, April 28th. The stock was sold at an average price of $158.52, for a total value of $1,137,063.96. Following the sale, the director now owns 20,584 shares in the company, valued at approximately $3,262,975.68. The disclosure for this sale can be found here. Insiders sold 129,605 shares of company stock worth $20,469,855 over the last quarter. Company insiders own 1.65% of the company’s stock.
Several institutional investors have recently modified their holdings of ROK. Univest Corp of Pennsylvania bought a new position in Rockwell Automation during the first quarter valued at $224,000. Gulf International Bank UK Ltd raised its position in Rockwell Automation by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 40,598 shares of the industrial products company’s stock valued at $6,321,000 after buying an additional 515 shares during the last quarter. S&CO Inc. bought a new position in Rockwell Automation during the first quarter valued at $216,000. Manning & Napier Advisors LLC raised its position in Rockwell Automation by 8.0% in the first quarter. Manning & Napier Advisors LLC now owns 21,858 shares of the industrial products company’s stock valued at $3,402,000 after buying an additional 1,613 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in Rockwell Automation by 3.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 111,007 shares of the industrial products company’s stock valued at $17,285,000 after buying an additional 3,858 shares during the last quarter. 73.52% of the stock is currently owned by institutional investors and hedge funds.
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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