Rockwell Automation (NYSE:ROK) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $182.00 to $190.00 in a note issued to investors on Thursday. The firm currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.’s price objective would indicate a potential downside of 5.22% from the stock’s previous close.
Several other research analysts have also recently issued reports on ROK. Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a report on Monday, October 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $173.00 target price (up from $168.00) on shares of Rockwell Automation in a report on Monday, October 2nd. ValuEngine cut shares of Rockwell Automation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Citigroup restated a “neutral” rating and issued a $187.00 price target (up from $175.00) on shares of Rockwell Automation in a report on Monday, October 9th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $174.00 price target (up from $154.00) on shares of Rockwell Automation in a report on Wednesday, October 11th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $179.40.
Shares of Rockwell Automation (ROK) traded down $4.22 during trading on Thursday, reaching $200.47. 1,456,400 shares of the company’s stock traded hands, compared to its average volume of 773,006. The company has a current ratio of 2.06, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. Rockwell Automation has a one year low of $146.37 and a one year high of $210.72. The company has a market cap of $25,600.00, a PE ratio of 42.65, a price-to-earnings-growth ratio of 2.57 and a beta of 1.23.
Rockwell Automation announced that its board has authorized a share repurchase plan on Wednesday, January 24th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In related news, SVP Sujeet Chand sold 3,371 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $190.85, for a total value of $643,355.35. Following the completion of the transaction, the senior vice president now directly owns 47,183 shares of the company’s stock, valued at approximately $9,004,875.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Blake D. Moret sold 5,309 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $190.75, for a total transaction of $1,012,691.75. Following the completion of the transaction, the chief executive officer now directly owns 30,720 shares of the company’s stock, valued at $5,859,840. The disclosure for this sale can be found here. Insiders sold a total of 10,770 shares of company stock worth $2,054,871 over the last 90 days. Company insiders own 1.65% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Keel Point LLC raised its position in shares of Rockwell Automation by 0.3% in the 2nd quarter. Keel Point LLC now owns 1,724 shares of the industrial products company’s stock valued at $279,000 after purchasing an additional 6 shares during the last quarter. Westside Investment Management Inc. raised its position in shares of Rockwell Automation by 0.5% in the 2nd quarter. Westside Investment Management Inc. now owns 1,666 shares of the industrial products company’s stock valued at $274,000 after purchasing an additional 9 shares during the last quarter. QS Investors LLC raised its position in shares of Rockwell Automation by 0.4% in the 2nd quarter. QS Investors LLC now owns 2,907 shares of the industrial products company’s stock valued at $471,000 after purchasing an additional 12 shares during the last quarter. Veritable L.P. raised its position in shares of Rockwell Automation by 0.8% in the 2nd quarter. Veritable L.P. now owns 3,326 shares of the industrial products company’s stock valued at $539,000 after purchasing an additional 27 shares during the last quarter. Finally, United Bank VA raised its position in shares of Rockwell Automation by 0.6% in the 2nd quarter. United Bank VA now owns 12,539 shares of the industrial products company’s stock valued at $2,031,000 after purchasing an additional 72 shares during the last quarter. 72.87% 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.
