Rockwell Automation (ROK) Downgraded by Wolfe Research

Wolfe Research downgraded shares of Rockwell Automation (NYSE:ROK) to a market perform rating in a report published on Tuesday morning, The Fly reports.

Several other analysts have also weighed in on the company. ValuEngine raised Rockwell Automation from a hold rating to a buy rating in a report on Friday, September 21st. Credit Suisse Group assumed coverage on Rockwell Automation in a report on Friday, October 12th. They issued an underperform rating and a $171.00 price objective for the company. Cowen lowered Rockwell Automation from a market perform rating to an underperform rating and lowered their target price for the company from $175.00 to $150.00 in a report on Monday, October 15th. Gordon Haskett assumed coverage on Rockwell Automation in a report on Friday, October 12th. They set a buy rating for the company. Finally, Wells Fargo & Co upped their target price on Rockwell Automation from $205.00 to $210.00 and gave the company an outperform rating in a report on Tuesday, October 2nd. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $172.27.

Shares of Rockwell Automation stock opened at $155.85 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.27 and a quick ratio of 1.01. The stock has a market capitalization of $18.56 billion, a P/E ratio of 19.22, a PEG ratio of 1.47 and a beta of 1.32. Rockwell Automation has a fifty-two week low of $141.46 and a fifty-two week high of $209.38.



Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $2.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.09. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.77 billion. Rockwell Automation had a return on equity of 57.53% and a net margin of 8.03%. Rockwell Automation’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.69 earnings per share. Equities research analysts anticipate that Rockwell Automation will post 9.01 earnings per share for the current fiscal year.

In related news, CFO Patrick P. Goris sold 177 shares of the stock in a transaction that occurred on Friday, December 7th. The stock was sold at an average price of $167.71, for a total value of $29,684.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Blake D. Moret sold 5,584 shares of the stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $175.97, for a total value of $982,616.48. Following the completion of the transaction, the chief executive officer now directly owns 41,196 shares of the company’s stock, valued at $7,249,260.12. The disclosure for this sale can be found here. Insiders sold a total of 34,724 shares of company stock valued at $6,100,662 over the last three months. Corporate insiders own 1.43% of the company’s stock.

A number of hedge funds have recently modified their holdings of ROK. Centaurus Financial Inc. acquired a new stake in Rockwell Automation in the second quarter worth approximately $103,000. SRS Capital Advisors Inc. lifted its position in Rockwell Automation by 3,577.8% in the third quarter. SRS Capital Advisors Inc. now owns 662 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 644 shares during the period. Ropes Wealth Advisors LLC lifted its position in Rockwell Automation by 200.0% in the third quarter. Ropes Wealth Advisors LLC now owns 750 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 500 shares during the period. Belpointe Asset Management LLC acquired a new stake in Rockwell Automation in the third quarter worth approximately $149,000. Finally, Tuttle Tactical Management acquired a new stake in Rockwell Automation in the second quarter worth approximately $182,000. 75.27% of the stock is owned by institutional investors and hedge funds.

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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