Credit Suisse Group started coverage on shares of Rockwell Automation (NYSE:ROK) in a research note released on Friday, Marketbeat Ratings reports. The brokerage issued an underperform rating and a $171.00 price target on the industrial products company’s stock.
ROK has been the topic of a number of other reports. Wolfe Research assumed coverage on shares of Rockwell Automation in a research report on Wednesday, June 27th. They set a market perform rating on the stock. Zacks Investment Research lowered shares of Rockwell Automation from a buy rating to a hold rating in a research report on Monday, August 6th. Morgan Stanley raised their price target on shares of Rockwell Automation from $187.00 to $192.00 and gave the company an equal weight rating in a research report on Friday, July 27th. ValuEngine lowered shares of Rockwell Automation from a buy rating to a hold rating in a research report on Thursday. Finally, UBS Group lowered their price objective on shares of Rockwell Automation from $210.00 to $205.00 and set a buy rating on the stock in a research report on Thursday, August 30th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $184.92.
Shares of ROK traded up $2.19 during trading hours on Friday, reaching $172.79. 1,256,652 shares of the stock traded hands, compared to its average volume of 1,044,202. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.93 and a quick ratio of 1.60. Rockwell Automation has a 52 week low of $155.81 and a 52 week high of $210.72. The firm has a market capitalization of $23.10 billion, a P/E ratio of 25.56, a PEG ratio of 2.01 and a beta of 1.21.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.12. Rockwell Automation had a net margin of 5.97% and a return on equity of 48.24%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the firm earned $1.76 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. On average, equities research analysts expect that Rockwell Automation will post 8.01 earnings per share for the current year.
Rockwell Automation announced that its Board of Directors has approved a stock repurchase program on Thursday, September 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In other Rockwell Automation news, VP Susan Schmitt sold 4,500 shares of Rockwell Automation stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $175.02, for a total value of $787,590.00. Following the sale, the vice president now owns 15,967 shares of the company’s stock, valued at $2,794,544.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Steven W. Etzel sold 1,400 shares of Rockwell Automation stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $187.68, for a total transaction of $262,752.00. Following the completion of the sale, the vice president now directly owns 8,668 shares in the company, valued at approximately $1,626,810.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,433 shares of company stock worth $2,086,894. Insiders own 1.28% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of ROK. Summit Trail Advisors LLC increased its stake in shares of Rockwell Automation by 17,669.8% in the first quarter. Summit Trail Advisors LLC now owns 345,622 shares of the industrial products company’s stock worth $346,000 after purchasing an additional 343,677 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new position in shares of Rockwell Automation in the second quarter worth about $40,950,000. Bank of America Corp DE increased its stake in shares of Rockwell Automation by 23.2% in the second quarter. Bank of America Corp DE now owns 1,224,685 shares of the industrial products company’s stock worth $203,581,000 after purchasing an additional 230,688 shares in the last quarter. Cambiar Investors LLC purchased a new position in shares of Rockwell Automation in the second quarter worth about $35,385,000. Finally, Davidson Kempner Capital Management LP purchased a new position in shares of Rockwell Automation in the second quarter worth about $29,090,000. Hedge funds and other institutional investors own 76.68% of the company’s stock.
Rockwell Automation Company Profile
Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.
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