J P Morgan Chase & Co upgraded shares of Rockwell Automation, Inc. (NYSE:ROK) from an underweight rating to a neutral rating in a research note released on Thursday, Marketbeat.com reports. They currently have $153.00 price objective on the industrial products company’s stock.

A number of other research analysts have also weighed in on ROK. HSBC Holdings plc reiterated a hold rating and issued a $147.00 price objective (up from $134.00) on shares of Rockwell Automation in a research note on Saturday, July 22nd. BidaskClub lowered shares of Rockwell Automation from a buy rating to a hold rating in a research note on Monday, July 24th. Wolfe Research assumed coverage on shares of Rockwell Automation in a research note on Tuesday, July 11th. They issued a peer perform rating for the company. Stifel Nicolaus reiterated a hold rating and issued a $167.00 price objective on shares of Rockwell Automation in a research note on Wednesday, July 19th. Finally, Zacks Investment Research upgraded shares of Rockwell Automation from a hold rating to a buy rating and set a $184.00 price objective for the company in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $152.33.

Shares of Rockwell Automation (NYSE ROK) traded up 0.74% during midday trading on Thursday, hitting $165.68. The company had a trading volume of 154,692 shares. Rockwell Automation has a 12-month low of $111.52 and a 12-month high of $167.97. The company has a market capitalization of $21.52 billion, a price-to-earnings ratio of 26.72 and a beta of 1.17. The company’s 50-day moving average price is $163.22 and its 200 day moving average price is $155.70.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.12. Rockwell Automation had a net margin of 13.04% and a return on equity of 40.71%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the business earned $1.55 EPS. Rockwell Automation’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts predict that Rockwell Automation will post $6.73 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Monday, August 14th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Thursday, August 10th. Rockwell Automation’s dividend payout ratio is currently 49.03%.

In other news, Director Keith D. Nosbusch sold 20,000 shares of Rockwell Automation stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $157.50, for a total transaction of $3,150,000.00. Following the completion of the sale, the director now directly owns 411,286 shares of the company’s stock, valued at approximately $64,777,545. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William T. Jr/Wi Mccormick sold 432 shares of Rockwell Automation stock in a transaction on Monday, May 15th. The stock was sold at an average price of $158.07, for a total transaction of $68,286.24. Following the sale, the director now directly owns 9,109 shares of the company’s stock, valued at $1,439,859.63. The disclosure for this sale can be found here. Insiders have sold a total of 122,432 shares of company stock valued at $19,332,791 over the last ninety days. 1.65% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in Rockwell Automation by 27.0% in the first quarter. Bank of America Corp DE now owns 1,037,845 shares of the industrial products company’s stock worth $161,602,000 after buying an additional 220,675 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Rockwell Automation during the first quarter worth about $1,315,000. Suntrust Banks Inc. increased its stake in Rockwell Automation by 3.1% in the first quarter. Suntrust Banks Inc. now owns 7,127 shares of the industrial products company’s stock worth $1,108,000 after buying an additional 216 shares in the last quarter. Columbia Partners L L C Investment Management increased its stake in Rockwell Automation by 11.8% in the first quarter. Columbia Partners L L C Investment Management now owns 8,632 shares of the industrial products company’s stock worth $1,344,000 after buying an additional 912 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Rockwell Automation by 36.3% in the first quarter. Russell Investments Group Ltd. now owns 305,997 shares of the industrial products company’s stock worth $47,653,000 after buying an additional 81,426 shares in the last quarter. 73.24% of the stock is owned by 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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