Rockwell Automation, Inc. (ROK) Given “Hold” Rating at Cowen and Company
Rockwell Automation, Inc. (NYSE:ROK)‘s stock had its “hold” rating reiterated by Cowen and Company in a note issued to investors on Sunday. They currently have a $140.00 target price on the industrial products company’s stock. Cowen and Company’s price objective suggests a potential downside of 19.42% from the company’s current price.
Several other research analysts have also recently issued reports on ROK. BidaskClub raised Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research cut Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Wolfe Research initiated coverage on Rockwell Automation in a research report on Tuesday, July 11th. They set a “peer perform” rating for the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $167.00 price objective on shares of Rockwell Automation in a research report on Wednesday, July 19th. Finally, HSBC Holdings plc reissued a “hold” rating and issued a $147.00 target price (up from $134.00) on shares of Rockwell Automation in a research report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $152.27.
Shares of Rockwell Automation (ROK) opened at 173.73 on Friday. The firm has a 50-day moving average price of $164.14 and a 200 day moving average price of $159.63. Rockwell Automation has a one year low of $113.50 and a one year high of $174.18. The firm has a market cap of $22.30 billion, a P/E ratio of 28.02 and a beta of 1.16.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.12. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Rockwell Automation had a return on equity of 40.71% and a net margin of 13.04%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.55 EPS. On average, analysts forecast that Rockwell Automation will post $6.75 earnings per share for the current fiscal year.
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In other Rockwell Automation news, insider Blake D. Moret sold 3,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $164.88, for a total transaction of $511,128.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith D. Nosbusch sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $165.50, for a total value of $3,310,000.00. Following the sale, the director now directly owns 411,286 shares of the company’s stock, valued at $68,067,833. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,825 shares of company stock valued at $10,917,484. 1.65% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Frontier Investment Mgmt Co. purchased a new stake in Rockwell Automation during the 2nd quarter valued at approximately $620,000. Griffin Asset Management Inc. purchased a new position in shares of Rockwell Automation during the 2nd quarter worth approximately $453,000. United Bank VA raised its stake in shares of Rockwell Automation by 0.6% during the 2nd quarter. United Bank VA now owns 12,539 shares of the industrial products company’s stock worth $2,031,000 after buying an additional 72 shares in the last quarter. Hall Laurie J Trustee raised its stake in shares of Rockwell Automation by 4.9% during the 2nd quarter. Hall Laurie J Trustee now owns 2,375 shares of the industrial products company’s stock worth $385,000 after buying an additional 110 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Rockwell Automation by 38.4% during the 2nd quarter. Toronto Dominion Bank now owns 48,242 shares of the industrial products company’s stock worth $7,812,000 after buying an additional 13,394 shares in the last quarter. 73.66% of the stock is owned by hedge funds and other 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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