Rockwell Automation (NYSE:ROK) had its target price increased by investment analysts at Cowen from $165.00 to $175.00 in a note issued to investors on Tuesday. The firm presently has a “market perform” rating on the industrial products company’s stock. Cowen’s target price points to a potential downside of 3.85% from the company’s previous close.
Several other equities research analysts also recently commented on the company. Goldman Sachs restated a “neutral” rating and set a $193.00 price objective on shares of Rockwell Automation in a report on Friday, December 8th. Daiwa Capital Markets started coverage on Rockwell Automation in a research report on Wednesday, December 20th. They set a “neutral” rating and a $199.00 target price on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $198.00 target price on shares of Rockwell Automation in a research report on Monday, December 11th. Citigroup cut their target price on Rockwell Automation from $214.00 to $209.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. started coverage on Rockwell Automation in a research report on Wednesday, November 29th. They set a “neutral” rating on the stock. Two 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 has an average rating of “Hold” and an average price target of $192.92.
Shares of Rockwell Automation (ROK) opened at $182.01 on Tuesday. The company has a market capitalization of $23,509.70, a P/E ratio of 63.86, a PEG ratio of 2.08 and a beta of 1.21. Rockwell Automation has a 1-year low of $148.31 and a 1-year high of $210.72. The company has a current ratio of 1.98, a quick ratio of 1.73 and a debt-to-equity ratio of 0.57.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.22. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.60 billion. Rockwell Automation had a return on equity of 39.45% and a net margin of 5.85%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.75 earnings per share. sell-side analysts expect that Rockwell Automation will post 7.79 EPS for the current year.
Rockwell Automation declared that its board has authorized a stock buyback program on Wednesday, January 24th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
In other Rockwell Automation news, VP David M. Dorgan sold 10,400 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $202.41, for a total value of $2,105,064.00. Following the transaction, the vice president now owns 12,853 shares of the company’s stock, valued at $2,601,575.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Patrick P. Goris sold 4,900 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $200.00, for a total value of $980,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,706 shares in the company, valued at approximately $2,341,200. The disclosure for this sale can be found here. In the last three months, insiders sold 123,627 shares of company stock worth $23,604,488. Insiders own 1.28% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Pinnacle Associates Ltd. boosted its position in Rockwell Automation by 3.4% in the third quarter. Pinnacle Associates Ltd. now owns 7,965 shares of the industrial products company’s stock worth $1,419,000 after purchasing an additional 263 shares during the last quarter. Edge Advisors LLC boosted its position in Rockwell Automation by 12.8% in the fourth quarter. Edge Advisors LLC now owns 2,472 shares of the industrial products company’s stock worth $484,000 after purchasing an additional 280 shares during the last quarter. Dai Ichi Life Insurance Company Ltd boosted its position in Rockwell Automation by 0.9% in the third quarter. Dai Ichi Life Insurance Company Ltd now owns 32,307 shares of the industrial products company’s stock worth $5,757,000 after purchasing an additional 285 shares during the last quarter. Amalgamated Bank boosted its position in Rockwell Automation by 2.0% in the third quarter. Amalgamated Bank now owns 15,472 shares of the industrial products company’s stock worth $2,757,000 after purchasing an additional 300 shares during the last quarter. Finally, Stephens Inc. AR boosted its position in Rockwell Automation by 15.9% in the fourth quarter. Stephens Inc. AR now owns 2,184 shares of the industrial products company’s stock worth $429,000 after purchasing an additional 300 shares during the last quarter. 73.20% 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.
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