Rockwell Automation (NYSE:ROK) had its target price upped by investment analysts at Morgan Stanley from $194.00 to $206.00 in a report released on Thursday. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s target price points to a potential upside of 2.76% from the stock’s current price.
Other equities analysts have also recently issued research reports about the stock. Citigroup cut their target price on shares of Rockwell Automation from $214.00 to $209.00 and set a “neutral” rating for the company in a research report on Thursday. Wells Fargo & Co lifted their target price on shares of Rockwell Automation from $190.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday. lowered shares of Rockwell Automation from a “hold” rating to a “reduce” rating in a research report on Thursday, November 2nd. Zacks Investment Research lowered shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $183.00 price objective on shares of Rockwell Automation in a research report on Thursday, October 12th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $179.40.
Shares of Rockwell Automation (NYSE:ROK) traded down $4.22 on Thursday, reaching $200.47. 1,456,400 shares of the company’s stock were exchanged, 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. The firm has a market capitalization of $25,570.00, a PE ratio of 42.65, a P/E/G ratio of 2.57 and a beta of 1.23. Rockwell Automation has a one year low of $146.37 and a one year high of $210.72.
Rockwell Automation declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 24th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In other Rockwell Automation news, CFO Patrick P. Goris sold 527 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $190.57, for a total transaction of $100,430.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence D. Kingsley acquired 375 shares of the firm’s stock in a transaction on Sunday, November 12th. The shares were acquired at an average price of $104.00 per share, with a total value of $39,000.00. Following the completion of the purchase, the director now owns 5,421 shares of the company’s stock, valued at $563,784. The disclosure for this purchase can be found here. Insiders have sold 10,770 shares of company stock valued at $2,054,871 in the last ninety days. 1.65% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board boosted its stake in shares of Rockwell Automation by 0.5% in the third quarter. Canada Pension Plan Investment Board now owns 231,974 shares of the industrial products company’s stock valued at $41,340,000 after purchasing an additional 1,219 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Rockwell Automation in the third quarter valued at $186,000. Frontier Investment Mgmt Co. bought a new position in Rockwell Automation during the 2nd quarter valued at $620,000. Oregon Public Employees Retirement Fund boosted its stake in Rockwell Automation by 11.5% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 56,252 shares of the industrial products company’s stock valued at $10,025,000 after acquiring an additional 5,803 shares during the last quarter. Finally, Oakbrook Investments LLC boosted its stake in Rockwell Automation by 42.6% during the 3rd quarter. Oakbrook Investments LLC now owns 11,625 shares of the industrial products company’s stock valued at $2,072,000 after acquiring an additional 3,475 shares during the last quarter. Institutional investors own 72.87% of the company’s stock.
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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.
