Wolfe Research Upgrades Rockwell Automation Inc. (ROK) to Outperform

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.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $1.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.72 by ($0.03). Rockwell Automation had a net margin of 12.27% and a return on equity of 34.02%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. research analysts anticipate that Rockwell Automation will post 7.39 EPS for the current year.

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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.

Analyst Recommendations for Rockwell Automation (NYSE:ROK)

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