Rockwell Automation Inc. (ROK) Given a $109.00 Price Target at Morgan Stanley
Several other research analysts have also recently weighed in on ROK. Sanford C. Bernstein restated an underperform rating on shares of Rockwell Automation in a report on Monday, June 27th. Barclays PLC lowered their target price on Rockwell Automation from $120.00 to $118.00 and set an equal weight rating on the stock in a report on Thursday, July 28th. Credit Suisse Group AG restated a hold rating on shares of Rockwell Automation in a report on Wednesday, June 22nd. Zacks Investment Research cut Rockwell Automation from a hold rating to a sell rating in a report on Wednesday, June 29th. Finally, Citigroup Inc. lowered their target price on Rockwell Automation from $120.00 to $118.00 and set a neutral rating on the stock in a report on Thursday, July 28th. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $105.58.
Shares of Rockwell Automation (NYSE:ROK) traded down 0.08% during trading on Wednesday, reaching $117.60. The company had a trading volume of 95,064 shares. The stock’s 50-day moving average price is $116.85 and its 200-day moving average price is $115.34. Rockwell Automation has a 52 week low of $87.53 and a 52 week high of $120.75. The company has a market capitalization of $15.22 billion, a PE ratio of 20.92 and a beta of 1.22.
Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.09. Rockwell Automation had a return on equity of 35.83% and a net margin of 12.54%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the firm posted $1.59 EPS. Rockwell Automation’s revenue was down 6.4% compared to the same quarter last year. On average, equities analysts expect that Rockwell Automation will post $5.90 EPS for the current fiscal year.
In other news, Director William T. Jr/Wi Mccormick sold 686 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $117.03, for a total value of $80,282.58. Following the transaction, the director now owns 10,951 shares of the company’s stock, valued at approximately $1,281,595.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David M. Dorgan sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $119.06, for a total transaction of $261,932.00. Following the completion of the transaction, the vice president now directly owns 12,500 shares in the company, valued at approximately $1,488,250. The disclosure for this sale can be found here. 1.54% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Advisors LLC raised its position in Rockwell Automation by 167.4% in the second quarter. BlackRock Advisors LLC now owns 787,979 shares of the company’s stock valued at $90,475,000 after buying an additional 493,246 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Rockwell Automation during the first quarter valued at $42,824,000. Emerald Acquisition Ltd. purchased a new position in Rockwell Automation during the second quarter valued at $37,275,000. PGGM Investments raised its position in Rockwell Automation by 67.3% in the second quarter. PGGM Investments now owns 716,358 shares of the company’s stock valued at $82,252,000 after buying an additional 288,050 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in Rockwell Automation by 7.1% in the first quarter. Lazard Asset Management LLC now owns 4,257,988 shares of the company’s stock valued at $484,345,000 after buying an additional 280,916 shares during the last quarter. 74.29% of the stock is currently owned by 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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