Rockwell Automation (NYSE:ROK) Coverage Initiated at UBS Group

UBS Group initiated coverage on shares of Rockwell Automation (NYSE:ROK) in a research note issued to investors on Wednesday. The brokerage set a “neutral” rating and a $313.00 price target on the industrial products company’s stock. UBS Group’s price objective suggests a potential upside of 12.64% from the stock’s current price.

Other analysts also recently issued research reports about the stock. TD Cowen lowered their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. lowered their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Bank of America lifted their price objective on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird upped their target price on shares of Rockwell Automation from $280.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Mizuho lifted their price target on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $285.13.

Rockwell Automation Trading Up 0.0 %

Shares of ROK stock opened at $277.88 on Wednesday. Rockwell Automation has a 1-year low of $242.81 and a 1-year high of $312.76. The firm’s 50-day simple moving average is $267.36 and its 200-day simple moving average is $266.55. The firm has a market cap of $31.53 billion, a P/E ratio of 33.56, a PEG ratio of 2.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.84 and a quick ratio of 1.17.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.07. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The business’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.64 earnings per share. As a group, equities analysts forecast that Rockwell Automation will post 9.56 EPS for the current year.

Rockwell Automation declared that its board has approved a share repurchase program on Thursday, September 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the completion of the sale, the senior vice president now directly owns 4,576 shares in the company, valued at approximately $1,221,151.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Rockwell Automation

Several hedge funds have recently bought and sold shares of the business. Gladstone Institutional Advisory LLC grew its stake in Rockwell Automation by 33.2% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 1,377 shares of the industrial products company’s stock valued at $370,000 after buying an additional 343 shares during the last quarter. Vicus Capital bought a new stake in shares of Rockwell Automation in the 3rd quarter worth approximately $304,000. Comerica Bank increased its position in shares of Rockwell Automation by 6.1% during the first quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock valued at $17,485,000 after purchasing an additional 3,425 shares during the period. Magnetar Financial LLC bought a new position in Rockwell Automation in the first quarter worth $2,817,000. Finally, Advisors Asset Management Inc. boosted its stake in Rockwell Automation by 16.1% during the first quarter. Advisors Asset Management Inc. now owns 27,924 shares of the industrial products company’s stock worth $8,135,000 after buying an additional 3,864 shares in the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Company Profile

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.