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.
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