Rockwell Automation Inc. (NYSE:ROK) was upgraded by investment analysts at Wolfe Research from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday.
ROK has been the topic of a number of other reports. Morgan Stanley restated an “equal weight” rating and issued a $173.00 price target (up from $168.00) on shares of Rockwell Automation in a research note on Monday, October 2nd. Citigroup Inc. lifted their price target on Rockwell Automation from $187.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Rockwell Automation in a research note on Friday, August 18th. Zacks Investment Research downgraded Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Cowen and Company reaffirmed a “hold” rating and set a $140.00 price objective on shares of Rockwell Automation in a report on Sunday, September 17th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. Rockwell Automation presently has an average rating of “Hold” and an average price target of $165.00.
Shares of Rockwell Automation (ROK) opened at $193.02 on Monday. The company has a quick ratio of 1.80, a current ratio of 2.06 and a debt-to-equity ratio of 0.47. Rockwell Automation has a 12 month low of $129.66 and a 12 month high of $210.72. The firm has a market capitalization of $24,980.00, a P/E ratio of 28.79, a P/E/G ratio of 2.23 and a beta of 1.24.
In other news, insider Blake D. Moret sold 1,723 shares of Rockwell Automation stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $170.06, for a total value of $293,013.38. Following the completion of the sale, the insider now owns 22,849 shares of the company’s stock, valued at $3,885,700.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Blake D. Moret sold 5,677 shares of Rockwell Automation stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $170.10, for a total value of $965,657.70. Following the completion of the sale, the insider now directly 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. 1.65% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board grew its position in Rockwell Automation by 0.5% during the third quarter. Canada Pension Plan Investment Board now owns 231,974 shares of the industrial products company’s stock valued at $41,340,000 after acquiring an additional 1,219 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in Rockwell Automation during the third quarter valued at about $186,000. Frontier Investment Mgmt Co. purchased a new stake in Rockwell Automation during the second quarter valued at about $620,000. Oakbrook Investments LLC grew its position in Rockwell Automation by 42.6% during the third quarter. Oakbrook Investments LLC now owns 11,625 shares of the industrial products company’s stock valued at $2,072,000 after acquiring an additional 3,475 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in Rockwell Automation by 11.5% during the third quarter. Oregon Public Employees Retirement Fund now owns 56,252 shares of the industrial products company’s stock valued at $10,025,000 after acquiring an additional 5,803 shares during the period. 73.12% of the stock is owned by hedge funds and other institutional investors.
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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