Rockwell Automation (ROK) Cut to “Hold” at Vertical Research
Vertical Research lowered shares of Rockwell Automation (NYSE:ROK) from a buy rating to a hold rating in a research report report published on Wednesday, MarketBeat.com reports. They currently have $175.00 price target on the industrial products company’s stock.
A number of other equities research analysts also recently issued reports on ROK. UBS started coverage on shares of Rockwell Automation in a research report on Monday, January 22nd. They issued a buy rating for the company. Citigroup reduced their price objective on shares of Rockwell Automation from $214.00 to $209.00 and set a neutral rating for the company in a research report on Thursday, January 25th. Wells Fargo upped their price objective on shares of Rockwell Automation from $190.00 to $200.00 and gave the stock a market perform rating in a research report on Thursday, January 25th. Morgan Stanley upped their price objective on shares of Rockwell Automation from $194.00 to $206.00 and gave the stock an equal weight rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase upped their price objective on shares of Rockwell Automation from $182.00 to $190.00 and gave the stock a neutral rating in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. Rockwell Automation has a consensus rating of Hold and a consensus target price of $187.00.
NYSE:ROK opened at $166.29 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 4.03 and a debt-to-equity ratio of 0.63. The stock has a market cap of $21,121.42, a PE ratio of 24.60, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26. Rockwell Automation has a one year low of $151.78 and a one year high of $210.72.
Rockwell Automation declared that its board has authorized a share buyback plan on Wednesday, January 24th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Stockholders of record on Monday, May 14th will be given a dividend of $0.92 per share. This is an increase from Rockwell Automation’s previous quarterly dividend of $0.84. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, May 11th. Rockwell Automation’s dividend payout ratio is currently 49.41%.
In other news, insider Theodore D. Crandall sold 23,600 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $200.71, for a total transaction of $4,736,756.00. Following the completion of the transaction, the insider now directly owns 113,977 shares of the company’s stock, valued at approximately $22,876,323.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Frank C. Kulaszewicz sold 43,100 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $177.68, for a total transaction of $7,658,008.00. Following the transaction, the senior vice president now directly owns 35,338 shares of the company’s stock, valued at $6,278,855.84. The disclosure for this sale can be found here. Insiders have sold a total of 92,727 shares of company stock valued at $17,338,524 over the last three months. Insiders own 1.65% of the company’s stock.
Several hedge funds have recently made changes to their positions in ROK. Atlantic Trust Group LLC purchased a new stake in shares of Rockwell Automation during the 3rd quarter valued at approximately $2,535,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in Rockwell Automation in the 4th quarter worth approximately $805,000. Oak Point Wealth Management purchased a new stake in Rockwell Automation in the 4th quarter worth approximately $241,000. North Star Investment Management Corp. purchased a new stake in Rockwell Automation in the 4th quarter worth approximately $398,000. Finally, Gofen & Glossberg LLC IL purchased a new stake in Rockwell Automation in the 4th quarter worth approximately $202,000. Institutional investors own 73.21% of the company’s stock.
Rockwell Automation Company Profile
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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