Rockwell Automation, Inc. (NYSE:ROK) Raised to “Neutral” at J P Morgan Chase & Co
Rockwell Automation, Inc. (NYSE:ROK) was upgraded by equities researchers at J P Morgan Chase & Co from an “underweight” rating to a “neutral” rating in a research report issued on Thursday, The Fly reports.
Several other equities research analysts have also weighed in on the company. Barclays PLC lifted their price objective on Rockwell Automation from $166.00 to $167.00 and gave the stock an “overweight” rating in a report on Wednesday, April 19th. Zacks Investment Research lowered Rockwell Automation from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Gabelli raised Rockwell Automation from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. Stifel Nicolaus lifted their price target on Rockwell Automation from $159.00 to $167.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Finally, Wolfe Research initiated coverage on Rockwell Automation in a research report on Tuesday, July 11th. They set a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $152.43.
Shares of Rockwell Automation (NYSE ROK) opened at 162.78 on Thursday. The company has a market capitalization of $20.97 billion, a P/E ratio of 27.17 and a beta of 1.17. Rockwell Automation has a one year low of $111.52 and a one year high of $167.97. The firm has a 50-day moving average of $162.88 and a 200-day moving average of $155.45.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.12. Rockwell Automation had a return on equity of 39.71% and a net margin of 12.88%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the business earned $1.55 EPS. The business’s revenue was up 8.5% on a year-over-year basis. Equities research analysts expect that Rockwell Automation will post $6.67 EPS for the current fiscal year.
In other Rockwell Automation news, Director William T. Jr/Wi Mccormick sold 432 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $158.07, for a total transaction of $68,286.24. Following the transaction, the director now directly owns 9,109 shares in the company, valued at approximately $1,439,859.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Betty C. Alewine sold 7,173 shares of the firm’s 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 transaction, the director now owns 20,584 shares in the company, valued at $3,262,975.68. The disclosure for this sale can be found here. Insiders have sold a total of 129,605 shares of company stock valued at $20,469,855 over the last three months. 1.65% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Rockwell Automation by 3,186.3% in the first quarter. BlackRock Inc. now owns 9,018,663 shares of the industrial products company’s stock worth $1,404,295,000 after buying an additional 8,744,232 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt purchased a new stake in shares of Rockwell Automation during the first quarter worth approximately $339,089,000. Norges Bank purchased a new stake in shares of Rockwell Automation during the fourth quarter worth approximately $201,190,000. JPMorgan Chase & Co. boosted its stake in shares of Rockwell Automation by 231.2% in the first quarter. JPMorgan Chase & Co. now owns 1,377,769 shares of the industrial products company’s stock worth $214,532,000 after buying an additional 961,760 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Rockwell Automation by 41.2% in the fourth quarter. Ameriprise Financial Inc. now owns 2,367,419 shares of the industrial products company’s stock worth $242,927,000 after buying an additional 691,210 shares in the last quarter. Institutional investors and hedge funds own 73.50% of the company’s stock.
Rockwell Automation Company Profile
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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