Rockwell Automation, Inc. (ROK) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Rockwell Automation, Inc. (NYSE:ROK) from a hold rating to a buy rating in a research report report published on Tuesday. Zacks Investment Research currently has $209.00 price target on the industrial products company’s stock.

According to Zacks, “Backed by an improving macro environment, Rockwell Automation expects adjusted earnings per share to lie between $6.60 and $6.80 and projects sales to be around $6.3 billion in fiscal 2017. The company will benefit from the consistent growth in the consumer and transportation verticals and expects heavy industries to grow in 2017 despite the prevailing softness in oil and gas and mining. Further, increased investment, acquisitions, product launches and share repurchases will support growth. Its shares have outperformed the industry in the past year.”

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus reiterated a hold rating and issued a $183.00 price objective on shares of Rockwell Automation in a research report on Thursday, October 12th. Credit Suisse Group reiterated a neutral rating and issued a $174.00 price objective (up previously from $154.00) on shares of Rockwell Automation in a research report on Wednesday, October 11th. Citigroup Inc. reiterated a neutral rating and issued a $187.00 price objective (up previously from $175.00) on shares of Rockwell Automation in a research report on Monday, October 9th. ValuEngine downgraded shares of Rockwell Automation from a buy rating to a hold rating in a research report on Monday, October 2nd. Finally, Morgan Stanley reiterated an equal weight rating and issued a $173.00 price objective (up previously from $168.00) on shares of Rockwell Automation in a research report on Monday, October 2nd. Two 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’s stock. Rockwell Automation currently has a consensus rating of Hold and a consensus target price of $164.07.

Shares of Rockwell Automation (NYSE ROK) traded up 1.10% during trading on Tuesday, reaching $188.50. The company had a trading volume of 678,047 shares. Rockwell Automation has a 1-year low of $117.24 and a 1-year high of $188.60. The stock has a market capitalization of $24.20 billion, a price-to-earnings ratio of 30.40 and a beta of 1.19. The company’s 50 day moving average is $177.26 and its 200-day moving average is $164.48.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.64 by $0.12. Rockwell Automation had a net margin of 13.04% and a return on equity of 40.71%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the company earned $1.55 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. On average, equities research analysts anticipate that Rockwell Automation will post $6.78 earnings per share for the current year.

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In other news, Director Keith D. Nosbusch sold 10,000 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $165.00, for a total value of $1,650,000.00. Following the completion of the sale, the director now owns 411,286 shares of the company’s stock, valued at approximately $67,862,190. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Blake D. Moret sold 1,723 shares of the 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 completion of the sale, the insider now directly 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. In the last ninety days, insiders have sold 65,825 shares of company stock valued at $10,917,484. 1.65% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Rockwell Automation by 0.3% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 273,710 shares of the industrial products company’s stock valued at $44,330,000 after buying an additional 854 shares during the period. Principal Financial Group Inc. grew its stake in shares of Rockwell Automation by 2.3% in the 2nd quarter. Principal Financial Group Inc. now owns 222,056 shares of the industrial products company’s stock valued at $35,964,000 after buying an additional 5,077 shares during the period. Swiss National Bank grew its stake in shares of Rockwell Automation by 3.4% in the 2nd quarter. Swiss National Bank now owns 469,836 shares of the industrial products company’s stock valued at $76,095,000 after buying an additional 15,300 shares during the period. AHL Partners LLP grew its stake in shares of Rockwell Automation by 11.4% in the 2nd quarter. AHL Partners LLP now owns 34,844 shares of the industrial products company’s stock valued at $5,644,000 after buying an additional 3,578 shares during the period. Finally, Schroder Investment Management Group grew its stake in shares of Rockwell Automation by 17.2% in the 2nd quarter. Schroder Investment Management Group now owns 822,281 shares of the industrial products company’s stock valued at $130,594,000 after buying an additional 120,740 shares during the period. 73.59% of the stock is owned by institutional investors and hedge funds.

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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