Rockwell Automation, Inc. (ROK) Stock Rating Reaffirmed by Credit Suisse Group

Rockwell Automation, Inc. (NYSE:ROK)‘s stock had its “neutral” rating reiterated by analysts at Credit Suisse Group in a research report issued on Wednesday. They currently have a $174.00 price objective on the industrial products company’s stock, up from their prior price objective of $154.00. Credit Suisse Group’s price target indicates a potential downside of 5.69% from the stock’s current price.

ROK has been the subject of a number of other reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $173.00 price objective (up from $168.00) on shares of Rockwell Automation in a research note on Monday, October 2nd. Zacks Investment Research lowered shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Rockwell Automation in a research note on Friday, August 18th. Cowen and Company reaffirmed a “hold” rating and issued a $140.00 price objective on shares of Rockwell Automation in a research note on Sunday, September 17th. Finally, Wolfe Research assumed coverage on shares of Rockwell Automation in a research note on Tuesday, July 11th. They issued a “peer perform” rating for the company. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $163.43.

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, topping the Zacks’ 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 firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the business posted $1.55 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis.

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In other Rockwell Automation news, Director Keith D. Nosbusch sold 10,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $165.00, for a total value of $1,650,000.00. Following the transaction, the director now owns 411,286 shares in the company, valued at approximately $67,862,190. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John M. Miller sold 1,825 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $165.37, for a total value of $301,800.25. The disclosure for this sale can be found here. Insiders sold a total of 65,825 shares of company stock worth $10,917,484 in the last 90 days. 1.65% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in 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 purchasing an additional 854 shares in the last quarter. Swiss National Bank lifted its holdings in 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 purchasing an additional 15,300 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in 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 purchasing an additional 5,077 shares in the last quarter. Bank of America Corp DE lifted its holdings in Rockwell Automation by 27.0% in the 1st quarter. Bank of America Corp DE now owns 1,037,845 shares of the industrial products company’s stock valued at $161,602,000 after purchasing an additional 220,675 shares in the last quarter. Finally, Blair William & Co. IL lifted its holdings in Rockwell Automation by 5.7% in the 2nd quarter. Blair William & Co. IL now owns 5,414 shares of the industrial products company’s stock valued at $877,000 after purchasing an additional 293 shares in the last quarter. Institutional investors own 73.61% of the company’s stock.

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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