Rockwell Automation’s (ROK) “Neutral” Rating Reiterated at Goldman Sachs Group
Goldman Sachs Group restated their neutral rating on shares of Rockwell Automation (NYSE:ROK) in a research note published on Friday, MarketBeat.com reports. They currently have a $193.00 price objective on the industrial products company’s stock.
ROK has been the topic of several other research reports. Credit Suisse Group reissued a neutral rating and set a $174.00 price objective (up previously from $154.00) on shares of Rockwell Automation in a research note on Wednesday, October 11th. Zacks Investment Research downgraded shares of Rockwell Automation from a buy rating to a hold rating in a research note on Wednesday, October 4th. Wolfe Research upgraded shares of Rockwell Automation from a market perform rating to an outperform rating in a research note on Monday, November 20th. J P Morgan Chase & Co began coverage on shares of Rockwell Automation in a research note on Wednesday, November 29th. They issued a neutral rating on the stock. Finally, Cowen reiterated a hold rating and issued a $140.00 target price on shares of Rockwell Automation in a research note on Sunday, September 17th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $166.87.
Shares of Rockwell Automation (NYSE:ROK) opened at $192.86 on Friday. Rockwell Automation has a 52 week low of $133.61 and a 52 week high of $210.72. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.06. The company has a market cap of $24,783.07, a PE ratio of 28.57, a P/E/G ratio of 2.16 and a beta of 1.23.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 13th will be issued a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 1.73%. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, November 10th. Rockwell Automation’s payout ratio is presently 52.68%.
In other news, VP Steven W. Etzel sold 514 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $190.75, for a total transaction of $98,045.50. Following the completion of the transaction, the vice president now directly owns 7,737 shares of the company’s stock, valued at $1,475,832.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lawrence D. Kingsley acquired 365 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were bought at an average cost of $99.77 per share, with a total value of $36,416.05. Following the completion of the acquisition, the director now directly owns 5,421 shares of the company’s stock, valued at $540,853.17. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 1,340 shares of company stock valued at $137,336 and have sold 18,025 shares valued at $3,285,650. 1.65% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in ROK. Acrospire Investment Management LLC increased its holdings in Rockwell Automation by 166.3% during the second quarter. Acrospire Investment Management LLC now owns 799 shares of the industrial products company’s stock valued at $129,000 after buying an additional 499 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in Rockwell Automation during the third quarter valued at approximately $131,000. Rockefeller Financial Services Inc. purchased a new stake in Rockwell Automation during the third quarter valued at approximately $143,000. Sun Life Financial INC increased its holdings in Rockwell Automation by 8,490.9% during the second quarter. Sun Life Financial INC now owns 945 shares of the industrial products company’s stock valued at $153,000 after buying an additional 934 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Rockwell Automation during the third quarter valued at approximately $186,000. 73.04% of the stock is owned by institutional investors and hedge funds.
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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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