Rockwell Automation, Inc. (ROK) Downgraded to “Reduce” at HSBC Holdings plc

HSBC Holdings plc lowered shares of Rockwell Automation, Inc. (NYSE:ROK) from a hold rating to a reduce rating in a research note issued to investors on Thursday.

Several other equities analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Rockwell Automation from a hold rating to a buy rating and set a $209.00 price target on the stock in a report on Tuesday, October 17th. Stifel Nicolaus restated a hold rating and set a $183.00 price target on shares of Rockwell Automation in a report on Thursday, October 12th. Credit Suisse Group restated a neutral rating and set a $174.00 price target (up from $154.00) on shares of Rockwell Automation in a report on Wednesday, October 11th. Citigroup Inc. restated a neutral rating and set a $187.00 price target (up from $175.00) on shares of Rockwell Automation in a report on Monday, October 9th. Finally, ValuEngine cut shares of Rockwell Automation from a buy rating to a hold rating in a report on Monday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. Rockwell Automation currently has an average rating of Hold and a consensus price target of $164.07.

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The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Monday, November 13th will be issued a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 1.66%. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.76. Rockwell Automation’s dividend payout ratio is 49.03%.

In other Rockwell Automation news, insider Blake D. Moret sold 1,723 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $170.06, for a total transaction of $293,013.38. Following the completion of the sale, the insider now directly owns 22,849 shares in the company, valued at $3,885,700.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Sujeet Chand sold 9,500 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $165.13, for a total transaction of $1,568,735.00. Following the sale, the senior vice president now owns 41,273 shares of the company’s stock, valued at $6,815,410.49. The disclosure for this sale can be found here. Insiders have sold 30,900 shares of company stock valued at $5,144,556 over the last 90 days. Corporate insiders own 1.65% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ROK. Bank of Nova Scotia boosted its holdings in Rockwell Automation by 939.9% during the first quarter. Bank of Nova Scotia now owns 29,482 shares of the industrial products company’s stock valued at $4,591,000 after acquiring an additional 26,647 shares during the period. Achmea Investment Management B.V. bought a new stake in Rockwell Automation during the first quarter valued at about $5,145,000. Columbia Partners L L C Investment Management boosted its holdings in Rockwell Automation by 11.8% during the first quarter. Columbia Partners L L C Investment Management now owns 8,632 shares of the industrial products company’s stock valued at $1,344,000 after acquiring an additional 912 shares during the period. Clearbridge Investments LLC boosted its holdings in Rockwell Automation by 4.0% during the first quarter. Clearbridge Investments LLC now owns 501,510 shares of the industrial products company’s stock valued at $78,090,000 after acquiring an additional 19,238 shares during the period. Finally, Parsons Capital Management Inc. RI bought a new stake in Rockwell Automation during the first quarter valued at about $218,000. Institutional investors own 73.61% of the company’s stock.

Rockwell Automation Company Profile

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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