Rockwell Automation Inc. (ROK) Upgraded to “Market Perform” at Sanford C. Bernstein
Rockwell Automation Inc. (NYSE:ROK) was upgraded by stock analysts at Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a note issued to investors on Friday.
ROK has been the topic of a number of other reports. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Rockwell Automation in a report on Wednesday, June 22nd. Morgan Stanley set a $109.00 price objective on shares of Rockwell Automation and gave the stock a “sell” rating in a report on Wednesday. Zacks Investment Research downgraded shares of Rockwell Automation from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Canaccord Genuity downgraded shares of Rockwell Automation from a “buy” rating to a “hold” rating and set a $94.00 price objective on the stock. in a report on Tuesday, July 26th. Finally, Citigroup Inc. cut their price objective on shares of Rockwell Automation from $120.00 to $118.00 and set a “neutral” rating on the stock in a report on Thursday, July 28th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $105.58.
Rockwell Automation (NYSE:ROK) opened at 117.12 on Friday. Rockwell Automation has a 52-week low of $87.53 and a 52-week high of $120.75. The company’s 50-day moving average is $116.78 and its 200-day moving average is $115.36. The company has a market capitalization of $15.16 billion, a price-to-earnings ratio of 20.84 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 Zacks’ consensus estimate of $1.46 by $0.09. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. Rockwell Automation had a net margin of 12.54% and a return on equity of 35.83%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.59 EPS. On average, analysts expect that Rockwell Automation will post $5.90 earnings per share for the current fiscal year.
In other news, VP David M. Dorgan sold 2,200 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $119.06, for a total transaction of $261,932.00. Following the sale, the vice president now directly owns 12,500 shares in the company, valued at $1,488,250. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director William T. Jr/Wi Mccormick sold 686 shares of the company’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 sale, the director now owns 10,951 shares in the company, valued at $1,281,595.53. The disclosure for this sale can be found here. Insiders own 1.54% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Tredje AP fonden boosted its stake in shares of Rockwell Automation by 262.5% in the second quarter. Tredje AP fonden now owns 870 shares of the company’s stock valued at $100,000 after buying an additional 630 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Rockwell Automation by 0.5% in the second quarter. Checchi Capital Advisers LLC now owns 938 shares of the company’s stock valued at $108,000 after buying an additional 5 shares in the last quarter. Johnson Financial Group Inc. boosted its stake in shares of Rockwell Automation by 1,818.4% in the second quarter. Johnson Financial Group Inc. now owns 940 shares of the company’s stock valued at $108,000 after buying an additional 891 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Rockwell Automation during the first quarter valued at $110,000. Finally, Citizens Financial Group Inc RI boosted its stake in shares of Rockwell Automation by 20.9% in the first quarter. Citizens Financial Group Inc RI now owns 1,344 shares of the company’s stock valued at $153,000 after buying an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 74.29% of the company’s stock.
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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