Rockwell Automation Inc. (ROK) Coverage Initiated by Analysts at HSBC
Other analysts have also recently issued reports about the company. Credit Suisse Group AG restated a hold rating on shares of Rockwell Automation in a research report on Saturday, July 9th. Barclays PLC lowered their price target on Rockwell Automation from $120.00 to $118.00 and set an equal weight rating on the stock in a research report on Thursday, July 28th. Citigroup Inc. lowered their price target on Rockwell Automation from $120.00 to $118.00 and set a neutral rating on the stock in a research report on Thursday, July 28th. Canaccord Genuity cut Rockwell Automation from a buy rating to a hold rating and set a $94.00 price target on the stock. in a research report on Tuesday, July 26th. Finally, Zacks Investment Research upgraded Rockwell Automation from a sell rating to a hold rating in a research report on Wednesday, July 13th. Seven 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’s stock. Rockwell Automation currently has an average rating of Hold and an average price target of $108.19.
Rockwell Automation (NYSE:ROK) traded down 1.76% on Friday, reaching $117.59. The company had a trading volume of 476,217 shares. The company has a market capitalization of $15.22 billion, a price-to-earnings ratio of 20.92 and a beta of 1.15. The company’s 50 day moving average price is $117.10 and its 200-day moving average price is $115.78. Rockwell Automation has a 12 month low of $87.53 and a 12 month high of $123.48.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.09. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Rockwell Automation had a return on equity of 35.83% and a net margin of 12.54%. Rockwell Automation’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.59 earnings per share. On average, equities analysts predict that Rockwell Automation will post $5.90 earnings per share for the current fiscal year.
In other Rockwell Automation news, VP David M. Dorgan sold 2,200 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $119.06, for a total value of $261,932.00. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Douglas M. Hagerman sold 3,500 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $119.01, for a total value of $416,535.00. Following the completion of the sale, the vice president now owns 32,727 shares of the company’s stock, valued at $3,894,840.27. The disclosure for this sale can be found here. 1.54% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in ROK. Vanguard Group Inc. increased its position in Rockwell Automation by 0.8% in the second quarter. Vanguard Group Inc. now owns 7,919,804 shares of the company’s stock worth $909,351,000 after buying an additional 64,944 shares during the last quarter. Lazard Asset Management LLC increased 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 worth $484,345,000 after buying an additional 280,916 shares during the last quarter. BlackRock Fund Advisors increased its position in Rockwell Automation by 2.7% in the second quarter. BlackRock Fund Advisors now owns 2,121,240 shares of the company’s stock worth $243,561,000 after buying an additional 55,189 shares during the last quarter. Geode Capital Management LLC increased its position in Rockwell Automation by 5.1% in the first quarter. Geode Capital Management LLC now owns 1,137,963 shares of the company’s stock worth $129,194,000 after buying an additional 55,683 shares during the last quarter. Finally, BlackRock Group LTD increased its position in Rockwell Automation by 2.3% in the second quarter. BlackRock Group LTD now owns 1,075,498 shares of the company’s stock worth $123,490,000 after buying an additional 23,688 shares during the last quarter. Institutional investors own 74.29% of the company’s stock.
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.
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