Rockwell Automation, Inc. (ROK) Upgraded to Outperform by Wolfe Research
Wolfe Research upgraded shares of Rockwell Automation, Inc. (NYSE:ROK) from a market perform rating to an outperform rating in a research note issued to investors on Monday morning, The Fly reports.
Other research analysts also recently issued reports about the company. ValuEngine raised Rockwell Automation from a hold rating to a buy rating in a report on Thursday, September 7th. Zacks Investment Research raised Rockwell Automation from a hold rating to a buy rating and set a $200.00 price target on the stock in a report on Monday, October 2nd. Morgan Stanley reaffirmed an equal weight rating and set a $173.00 price target (up from $168.00) on shares of Rockwell Automation in a report on Monday, October 2nd. BidaskClub downgraded Rockwell Automation from a buy rating to a hold rating in a report on Monday, July 24th. Finally, Oppenheimer Holdings, Inc. reissued a hold rating on shares of Rockwell Automation in a report on Friday, August 18th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. Rockwell Automation presently has a consensus rating of Hold and an average price target of $165.00.
Shares of Rockwell Automation (NYSE:ROK) opened at $191.02 on Monday. Rockwell Automation has a 12 month low of $129.66 and a 12 month high of $210.72. The company has a market capitalization of $24,546.63, a price-to-earnings ratio of 28.30, a PEG ratio of 2.14 and a beta of 1.24. The company has a quick ratio of 1.80, a current ratio of 2.06 and a debt-to-equity ratio of 0.47.
Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, November 8th. The industrial products company reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.03). Rockwell Automation had a return on equity of 38.67% and a net margin of 13.08%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the company posted $1.52 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. equities research analysts anticipate that Rockwell Automation will post 7.4 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Monday, November 13th will be given a $0.835 dividend. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, November 10th. This represents a $3.34 dividend on an annualized basis and a yield of 1.75%. Rockwell Automation’s dividend payout ratio is presently 52.68%.
In other Rockwell Automation news, insider Blake D. Moret sold 5,677 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $170.10, for a total transaction of $965,657.70. Following the completion of the transaction, the insider now owns 21,426 shares in the company, valued at approximately $3,644,562.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Blake D. Moret sold 1,723 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $170.06, for a total value of $293,013.38. Following the transaction, the insider now owns 22,849 shares of the company’s stock, valued at approximately $3,885,700.94. The disclosure for this sale can be found here. Company insiders own 1.65% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acrospire Investment Management LLC lifted its stake in shares of Rockwell Automation by 166.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 799 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 499 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Rockwell Automation in the 3rd quarter valued at approximately $131,000. Rockefeller Financial Services Inc. bought a new stake in shares of Rockwell Automation in the 3rd quarter valued at approximately $143,000. Sun Life Financial INC lifted its stake in shares of Rockwell Automation by 8,490.9% in the 2nd quarter. Sun Life Financial INC now owns 945 shares of the industrial products company’s stock valued at $153,000 after purchasing an additional 934 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Rockwell Automation in the 3rd quarter valued at approximately $186,000. Institutional investors and hedge funds own 73.12% 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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