Rockwell Automation, Inc. (ROK) Upgraded to “Equal Weight” by Morgan Stanley
Morgan Stanley upgraded shares of Rockwell Automation, Inc. (NYSE:ROK) from an underweight rating to an equal weight rating in a research note published on Monday. They currently have $145.00 price objective on the stock, up from their prior price objective of $136.00.
ROK has been the topic of a number of other research reports. Bank of America Corporation upgraded shares of Rockwell Automation from an underperform rating to a neutral rating in a report on Monday. Berenberg Bank began coverage on shares of Rockwell Automation in a report on Monday, October 3rd. They set a sell rating and a $110.00 price target on the stock. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of Rockwell Automation in a report on Saturday, November 12th. Stifel Nicolaus reiterated a hold rating on shares of Rockwell Automation in a report on Friday, October 21st. Finally, Sanford C. Bernstein upgraded shares of Rockwell Automation from an underperform rating to a market perform rating and increased their price target for the company from $105.00 to $121.00 in a report on Friday, September 30th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $113.38.
Rockwell Automation (NYSE:ROK) traded up 0.80% on Monday, reaching $139.42. 579,744 shares of the company were exchanged. The firm has a 50-day moving average of $135.64 and a 200 day moving average of $122.47. The firm has a market capitalization of $17.88 billion, a P/E ratio of 25.08 and a beta of 1.07. Rockwell Automation has a 12-month low of $87.53 and a 12-month high of $140.08.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Monday, November 7th. The company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.03. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Rockwell Automation had a net margin of 12.41% and a return on equity of 36.34%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.57 earnings per share. On average, equities analysts predict that Rockwell Automation will post $6.06 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Monday, November 14th were paid a $0.76 dividend. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.73. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Wednesday, November 9th. Rockwell Automation’s dividend payout ratio (DPR) is presently 54.58%.
In other news, CFO Theodore D. Crandall sold 11,300 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $125.40, for a total value of $1,417,020.00. Following the completion of the sale, the chief financial officer now owns 106,131 shares in the company, valued at approximately $13,308,827.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Douglas M. Hagerman sold 588 shares of the firm’s stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $137.38, for a total transaction of $80,779.44. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in Rockwell Automation by 33.9% in the third quarter. Bank of Montreal Can now owns 352,527 shares of the company’s stock valued at $43,129,000 after buying an additional 89,336 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Rockwell Automation by 92.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 271,450 shares of the company’s stock valued at $31,168,000 after buying an additional 130,546 shares during the period. Aberdeen Asset Management PLC UK raised its stake in Rockwell Automation by 2.3% in the second quarter. Aberdeen Asset Management PLC UK now owns 391,884 shares of the company’s stock valued at $44,996,000 after buying an additional 8,907 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Rockwell Automation by 0.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 365,027 shares of the company’s stock valued at $41,912,000 after buying an additional 2,122 shares during the period. Finally, Associated Banc Corp raised its stake in Rockwell Automation by 4.5% in the second quarter. Associated Banc Corp now owns 2,874 shares of the company’s stock valued at $330,000 after buying an additional 123 shares during the period. Hedge funds and other institutional investors own 71.70% 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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