Rockwell Automation (NYSE:ROK) was upgraded by analysts at Gabelli from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
A number of other brokerages have also recently issued reports on ROK. Credit Suisse Group AG reiterated a “hold” rating and issued a $145.00 price objective on shares of Rockwell Automation in a report on Thursday, March 30th. Morgan Stanley upgraded shares of Rockwell Automation from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $136.00 to $145.00 in a report on Monday, January 9th. Barclays PLC upped their price target on shares of Rockwell Automation from $144.00 to $166.00 and gave the company an “overweight” rating in a report on Thursday, January 26th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Rockwell Automation in a report on Wednesday, January 25th. Finally, Cowen and Company restated a “market perform” rating and set a $120.00 price target (up from $102.00) on shares of Rockwell Automation in a report on Tuesday, December 27th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $134.14.
Shares of Rockwell Automation (NYSE:ROK) opened at 153.82 on Wednesday. The stock’s 50 day moving average price is $153.85 and its 200 day moving average price is $139.88. Rockwell Automation has a 12-month low of $107.17 and a 12-month high of $159.78. The firm has a market cap of $19.78 billion, a PE ratio of 26.48 and a beta of 1.07.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, January 25th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.30. The firm earned $1.49 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Rockwell Automation had a net margin of 12.77% and a return on equity of 38.57%. Rockwell Automation’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.49 earnings per share. On average, equities research analysts predict that Rockwell Automation will post $6.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Monday, May 15th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, May 11th. Rockwell Automation’s dividend payout ratio is currently 52.23%.
In other news, CFO Theodore D. Crandall sold 24,400 shares of the company’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $150.43, for a total transaction of $3,670,492.00. Following the completion of the transaction, the chief financial officer now owns 120,163 shares of the company’s stock, valued at $18,076,120.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith D. Nosbusch sold 33,900 shares of the company’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $151.00, for a total transaction of $5,118,900.00. Following the transaction, the director now directly owns 435,186 shares of the company’s stock, valued at approximately $65,713,086. The disclosure for this sale can be found here. Insiders have sold 346,904 shares of company stock valued at $52,562,126 in the last ninety days. 1.65% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ROK. Norges Bank acquired a new position in Rockwell Automation during the fourth quarter valued at about $201,190,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Rockwell Automation during the fourth quarter valued at about $76,184,000. Congress Asset Management Co. MA acquired a new position in Rockwell Automation during the fourth quarter valued at about $59,311,000. Alyeska Investment Group L.P. acquired a new position in Rockwell Automation during the fourth quarter valued at about $49,163,000. Finally, Columbus Circle Investors acquired a new position in Rockwell Automation during the first quarter valued at about $50,905,000. 72.56% of the stock is 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.
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