Rockwell Automation (NYSE:ROK) had its price objective cut by Citigroup from $214.00 to $209.00 in a research report issued to clients and investors on Thursday. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price target would indicate a potential upside of 4.26% from the stock’s previous close.
Several other brokerages also recently weighed in on ROK. UBS Group started coverage on Rockwell Automation in a research note on Monday. They set a “buy” rating for the company. downgraded Rockwell Automation from a “hold” rating to a “reduce” rating in a research note on Thursday, November 2nd. JPMorgan Chase & Co. started coverage on Rockwell Automation in a research note on Wednesday, November 29th. They issued a “neutral” rating for the company. Wolfe Research raised Rockwell Automation from a “market perform” rating to an “outperform” rating in a research note on Monday, November 20th. Finally, Oppenheimer reissued a “hold” rating on shares of Rockwell Automation in a research note on Monday, November 20th. Three research analysts have 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 currently has a consensus rating of “Hold” and a consensus price target of $174.73.
Rockwell Automation (ROK) opened at $200.47 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.06. The firm has a market capitalization of $26,280.58, a P/E ratio of 31.62, a PEG ratio of 2.57 and a beta of 1.23. Rockwell Automation has a 52 week low of $146.37 and a 52 week high of $210.72.
Rockwell Automation announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 24th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other Rockwell Automation news, VP Steven W. Etzel sold 514 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $190.75, for a total value of $98,045.50. Following the completion of the sale, the vice president now directly owns 7,737 shares of the company’s stock, valued at approximately $1,475,832.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Sujeet Chand sold 3,371 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $190.85, for a total value of $643,355.35. Following the completion of the sale, the senior vice president now directly owns 47,183 shares of the company’s stock, valued at $9,004,875.55. The disclosure for this sale can be found here. Insiders sold a total of 10,770 shares of company stock valued at $2,054,871 over the last ninety days. Corporate insiders own 1.65% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ROK. Thrivent Financial For Lutherans increased its stake in shares of Rockwell Automation by 2.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 5,503 shares of the industrial products company’s stock worth $893,000 after acquiring an additional 130 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Rockwell Automation during the 2nd quarter worth $486,000. FMR LLC grew its holdings in shares of Rockwell Automation by 3.8% during the 2nd quarter. FMR LLC now owns 546,829 shares of the industrial products company’s stock worth $88,565,000 after purchasing an additional 20,033 shares during the period. Ark Investment Management LLC grew its holdings in shares of Rockwell Automation by 48.2% during the 2nd quarter. Ark Investment Management LLC now owns 3,409 shares of the industrial products company’s stock worth $552,000 after purchasing an additional 1,109 shares during the period. Finally, Cibc World Markets Corp grew its holdings in shares of Rockwell Automation by 35.4% during the 2nd quarter. Cibc World Markets Corp now owns 18,206 shares of the industrial products company’s stock worth $2,949,000 after purchasing an additional 4,764 shares during the period. 72.87% of the stock is owned by institutional investors and hedge funds.
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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.
