Rockwell Automation, Inc. (ROK) Given “Neutral” Rating at Citigroup Inc.

Citigroup Inc. reaffirmed their neutral rating on shares of Rockwell Automation, Inc. (NYSE:ROK) in a research note published on Monday morning. Citigroup Inc. currently has a $187.00 target price on the industrial products company’s stock, up from their prior target price of $175.00.

A number of other research firms have also recently weighed in on ROK. Zacks Investment Research cut shares of Rockwell Automation from a buy rating to a hold rating in a research note on Wednesday, October 4th. ValuEngine cut shares of Rockwell Automation from a buy rating to a hold rating in a research note on Monday, October 2nd. Morgan Stanley reiterated an equal weight rating and issued a $173.00 target price (up from $168.00) on shares of Rockwell Automation in a research note on Monday, October 2nd. Cowen and Company reiterated a hold rating and issued a $140.00 target price on shares of Rockwell Automation in a research note on Sunday, September 17th. Finally, Stifel Nicolaus reiterated a hold rating and issued a $167.00 target price on shares of Rockwell Automation in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. Rockwell Automation presently has an average rating of Hold and a consensus price target of $163.43.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, July 26th. The industrial products company reported $1.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.12. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Rockwell Automation had a net margin of 13.04% and a return on equity of 40.71%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 earnings per share.

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In related news, insider Blake D. Moret sold 3,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $164.88, for a total transaction of $511,128.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Blake D. Moret sold 1,723 shares of the company’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 transaction of $293,013.38. Following the sale, the insider now owns 22,849 shares in the company, valued at $3,885,700.94. The disclosure for this sale can be found here. Insiders have sold a total of 65,825 shares of company stock worth $10,917,484 over the last 90 days. 1.65% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Rockwell Automation by 7.5% during the 2nd quarter. BlackRock Inc. now owns 9,698,308 shares of the industrial products company’s stock worth $1,570,735,000 after acquiring an additional 679,645 shares during the period. Vanguard Group Inc. increased its holdings in Rockwell Automation by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 8,769,308 shares of the industrial products company’s stock worth $1,420,278,000 after acquiring an additional 268,101 shares during the period. State Street Corp increased its holdings in Rockwell Automation by 1.3% during the 1st quarter. State Street Corp now owns 5,749,538 shares of the industrial products company’s stock worth $895,260,000 after acquiring an additional 76,191 shares during the period. Lazard Asset Management LLC increased its holdings in Rockwell Automation by 0.5% during the 2nd quarter. Lazard Asset Management LLC now owns 2,308,357 shares of the industrial products company’s stock worth $373,861,000 after acquiring an additional 11,384 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Rockwell Automation by 5.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,459,185 shares of the industrial products company’s stock worth $236,330,000 after acquiring an additional 81,416 shares during the period. 73.61% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Rockwell Automation (NYSE:ROK)

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