Rockwell Automation (ROK) Upgraded at ValuEngine
ValuEngine upgraded shares of Rockwell Automation (NYSE:ROK) from a hold rating to a buy rating in a report published on Friday morning.
A number of other brokerages have also recently weighed in on ROK. Zacks Investment Research raised shares of Rockwell Automation from a hold rating to a buy rating and set a $188.00 price target on the stock in a research report on Wednesday, July 18th. Barclays reissued a hold rating and set a $176.00 price target on shares of Rockwell Automation in a research report on Thursday, July 26th. Goldman Sachs Group cut shares of Rockwell Automation from a neutral rating to a sell rating and set a $156.00 price target on the stock. in a research report on Monday, July 16th. Morgan Stanley initiated coverage on shares of Rockwell Automation in a research report on Tuesday, August 21st. They set an underweight rating and a $163.00 price target on the stock. Finally, UBS Group reduced their price target on shares of Rockwell Automation from $210.00 to $205.00 and set a buy rating on the stock in a research report on Thursday, August 30th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. Rockwell Automation has a consensus rating of Hold and an average price target of $184.38.
Shares of NYSE ROK opened at $196.47 on Friday. The firm has a market cap of $24.20 billion, a PE ratio of 25.52, a PEG ratio of 2.11 and a beta of 1.24. Rockwell Automation has a twelve month low of $155.81 and a twelve month high of $210.72. The company has a current ratio of 1.93, a quick ratio of 1.60 and a debt-to-equity ratio of 0.85.
Rockwell Automation announced that its board has approved a stock repurchase plan on Thursday, September 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, VP Susan Schmitt sold 4,500 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $175.02, for a total value of $787,590.00. Following the sale, the vice president now directly owns 15,967 shares of the company’s stock, valued at approximately $2,794,544.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Theodore D. Crandall sold 5,533 shares of the business’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $187.34, for a total transaction of $1,036,552.22. The disclosure for this sale can be found here. Insiders sold a total of 11,433 shares of company stock worth $2,086,894 over the last ninety days. 1.65% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Rockwell Automation by 0.9% in the 1st quarter. BlackRock Inc. now owns 9,883,663 shares of the industrial products company’s stock valued at $1,721,735,000 after acquiring an additional 91,879 shares in the last quarter. UBS Group AG increased its stake in Rockwell Automation by 4.6% in the 1st quarter. UBS Group AG now owns 5,120,696 shares of the industrial products company’s stock valued at $892,025,000 after buying an additional 227,226 shares during the last quarter. Franklin Resources Inc. increased its stake in Rockwell Automation by 6.1% in the 1st quarter. Franklin Resources Inc. now owns 1,408,518 shares of the industrial products company’s stock valued at $245,366,000 after buying an additional 81,519 shares during the last quarter. Bank of America Corp DE increased its stake in Rockwell Automation by 23.2% in the 2nd quarter. Bank of America Corp DE now owns 1,224,685 shares of the industrial products company’s stock valued at $203,581,000 after buying an additional 230,688 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake in Rockwell Automation by 11.6% in the 2nd quarter. Schroder Investment Management Group now owns 1,037,143 shares of the industrial products company’s stock valued at $170,755,000 after buying an additional 107,457 shares during the last quarter. 76.63% of the stock is currently owned by institutional investors and hedge funds.
About Rockwell Automation
Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.
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