Rockwell Automation Inc. (ROK) Price Target Raised to $122.00
Rockwell Automation Inc. (NYSE:ROK) had its price target boosted by Citigroup Inc. from $118.00 to $122.00 in a report released on Monday. The firm presently has a “neutral” rating on the stock. Citigroup Inc.’s price objective would indicate a potential upside of 1.92% from the company’s previous close.
A number of other brokerages have also recently commented on ROK. Berenberg Bank assumed coverage on Rockwell Automation in a report on Monday, October 3rd. They issued a “sell” rating and a $110.00 target price on the stock. HSBC assumed coverage on Rockwell Automation in a report on Friday. They issued a “hold” rating and a $108.00 target price on the stock. Zacks Investment Research cut Rockwell Automation from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Canaccord Genuity cut Rockwell Automation from a “buy” rating to a “hold” rating and set a $94.00 target price on the stock. in a report on Tuesday, July 26th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating on shares of Rockwell Automation in a report on Wednesday, June 22nd. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. Rockwell Automation currently has a consensus rating of “Hold” and a consensus target price of $108.41.
Rockwell Automation (NYSE:ROK) traded down 1.78% during trading on Monday, reaching $117.57. The company had a trading volume of 610,312 shares. The firm’s 50-day moving average price is $117.10 and its 200 day moving average price is $115.78. Rockwell Automation has a one year low of $87.53 and a one year high of $123.48. The firm has a market capitalization of $15.21 billion, a P/E ratio of 20.92 and a beta of 1.15.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings results 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 return on equity of 35.83% and a net margin of 12.54%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the business posted $1.59 EPS. Equities analysts forecast that Rockwell Automation will post $5.90 earnings per share for the current fiscal year.
In other Rockwell Automation news, Director William T. Jr/Wi Mccormick sold 686 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 10,951 shares in the company, valued at $1,281,595.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Steven W. Etzel sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $121.54, for a total value of $218,772.00. Following the transaction, the vice president now owns 8,286 shares of the company’s stock, valued at approximately $1,007,080.44. The disclosure for this sale can be found here. 1.54% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tredje AP fonden raised its position 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 during the period. Checchi Capital Advisers LLC raised its position 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 during the period. Johnson Financial Group Inc. raised its position 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 during the period. Meeder Asset Management Inc. acquired a new position in shares of Rockwell Automation during the first quarter valued at about $110,000. Finally, Citizens Financial Group Inc RI raised its position 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 during the period. Institutional investors and hedge funds 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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