Rockwell Automation Inc. (ROK) Coverage Initiated at Berenberg Bank
Equities researchers at Berenberg Bank assumed coverage on shares of Rockwell Automation Inc. (NYSE:ROK) in a report released on Monday. The firm set a “sell” rating on the stock.
Several other analysts also recently commented on the stock. Sanford C. Bernstein raised shares of Rockwell Automation from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $105.00 to $121.00 in a research report on Friday. Morgan Stanley set a $109.00 target price on shares of Rockwell Automation and gave the stock a “sell” rating in a research report on Wednesday, September 28th. Citigroup Inc. reduced their price objective on shares of Rockwell Automation from $120.00 to $118.00 and set a “neutral” rating for the company in a research note on Thursday, July 28th. Barclays PLC reduced their price objective on shares of Rockwell Automation from $120.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, July 28th. Finally, Canaccord Genuity cut shares of Rockwell Automation from a “buy” rating to a “hold” rating and set a $94.00 price objective for the company. in a research note on Tuesday, July 26th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $108.08.
Rockwell Automation (NYSE:ROK) opened at 122.34 on Monday. Rockwell Automation has a 12-month low of $87.53 and a 12-month high of $123.11. The firm has a market capitalization of $15.83 billion, a price-to-earnings ratio of 21.76 and a beta of 1.15. The stock has a 50 day moving average of $116.88 and a 200 day moving average of $115.46.
Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, July 27th. The company reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.09. The company earned $1.47 billion during 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 company’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 posted $1.59 earnings per share. Equities research analysts anticipate that Rockwell Automation will post $5.90 earnings per share for the current year.
In other news, VP Douglas M. Hagerman sold 1,400 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $119.17, for a total value of $166,838.00. Following the sale, the vice president now owns 32,091 shares of the company’s stock, valued at approximately $3,824,284.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William T. Jr/Wi Mccormick sold 686 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $117.03, for a total transaction of $80,282.58. Following the completion of the sale, the director now directly owns 10,951 shares in the company, valued at approximately $1,281,595.53. The disclosure for this sale can be found here. 1.54% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Rockwell Automation during the first quarter valued at $213,000. Ngam Advisors L.P. bought a new stake in shares of Rockwell Automation during the first quarter worth approximately $5,762,000. TIAA CREF Investment Management LLC raised its stake in shares of Rockwell Automation by 1.3% in the first quarter. TIAA CREF Investment Management LLC now owns 416,952 shares of the company’s stock worth $47,428,000 after buying an additional 5,186 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of Rockwell Automation during the first quarter worth approximately $226,000. Finally, Prudential Financial Inc. raised its stake in shares of Rockwell Automation by 6.5% in the first quarter. Prudential Financial Inc. now owns 176,788 shares of the company’s stock worth $20,110,000 after buying an additional 10,800 shares in the last quarter. 74.29% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Stock Ratings for Rockwell Automation Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Automation Inc. and related stocks with our FREE daily email newsletter.