Credit Suisse Group reiterated their neutral rating on shares of Rockwell Automation, Inc. (NYSE:ROK) in a research report sent to investors on Wednesday morning. Credit Suisse Group currently has a $174.00 target price on the industrial products company’s stock, up from their prior target price of $154.00.
Other research analysts also recently issued research reports about the company. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Rockwell Automation in a report on Friday, August 18th. BidaskClub downgraded Rockwell Automation from a hold rating to a sell rating in a report on Sunday, July 30th. Morgan Stanley reissued an equal weight rating and issued a $173.00 target price (up previously from $168.00) on shares of Rockwell Automation in a report on Monday, October 2nd. Zacks Investment Research raised Rockwell Automation from a hold rating to a buy rating and set a $184.00 target price on the stock in a report on Tuesday, July 11th. Finally, Wolfe Research began coverage on Rockwell Automation in a report on Tuesday, July 11th. They issued a peer perform rating on the stock. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $163.43.
Shares of Rockwell Automation (ROK) traded up 0.41% during midday trading on Wednesday, hitting $184.50. The stock had a trading volume of 451,477 shares. The stock’s 50-day moving average is $172.21 and its 200-day moving average is $162.97. Rockwell Automation has a 12 month low of $115.09 and a 12 month high of $185.29. The stock has a market cap of $23.68 billion, a PE ratio of 29.75 and a beta of 1.19.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.12. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Rockwell Automation had a return on equity of 40.71% and a net margin of 13.04%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 earnings per share. Equities analysts anticipate that Rockwell Automation will post $6.77 EPS for the current year.
In related news, insider Blake D. Moret sold 3,100 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $164.88, for a total transaction of $511,128.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Blake D. Moret sold 5,677 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $170.10, for a total value of $965,657.70. Following the sale, the insider now owns 21,426 shares of the company’s stock, valued at approximately $3,644,562.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,825 shares of company stock valued at $10,917,484. Company insiders own 1.65% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Keel Point LLC grew its position in shares of Rockwell Automation by 0.3% during the first quarter. Keel Point LLC now owns 1,718 shares of the industrial products company’s stock worth $268,000 after purchasing an additional 5 shares in the last quarter. CWM LLC grew its position in shares of Rockwell Automation by 0.3% during the second quarter. CWM LLC now owns 2,125 shares of the industrial products company’s stock worth $344,000 after purchasing an additional 6 shares in the last quarter. Advisor Partners LLC grew its position in shares of Rockwell Automation by 0.3% during the second quarter. Advisor Partners LLC now owns 2,567 shares of the industrial products company’s stock worth $416,000 after purchasing an additional 8 shares in the last quarter. Sfmg LLC grew its position in shares of Rockwell Automation by 0.4% during the second quarter. Sfmg LLC now owns 1,796 shares of the industrial products company’s stock worth $291,000 after purchasing an additional 8 shares in the last quarter. Finally, Westside Investment Management Inc. grew its position in shares of Rockwell Automation by 0.5% during the second quarter. Westside Investment Management Inc. now owns 1,666 shares of the industrial products company’s stock worth $274,000 after purchasing an additional 9 shares in the last quarter. Hedge funds and other 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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