Rockwell Automation (NYSE:ROK) Downgraded by Gabelli

Gabelli cut shares of Rockwell Automation (NYSE:ROK) from a buy rating to a hold rating in a research report report published on Wednesday, Briefing.com Automated Import reports.

Other equities analysts have also issued research reports about the company. Morgan Stanley cut their target price on Rockwell Automation from $145.00 to $142.00 and set an underweight rating on the stock in a research note on Friday, October 11th. Zacks Investment Research downgraded Rockwell Automation from a hold rating to a sell rating and set a $177.00 price target for the company. in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on Rockwell Automation from $145.00 to $146.00 and gave the stock a neutral rating in a report on Thursday, October 10th. Barclays reissued a hold rating and issued a $159.00 price target on shares of Rockwell Automation in a report on Friday, October 4th. Finally, Citigroup lowered their price target on Rockwell Automation from $180.00 to $174.00 and set a neutral rating for the company in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and an average target price of $182.20.

ROK traded up $1.52 on Wednesday, hitting $200.27. The company had a trading volume of 730,921 shares, compared to its average volume of 1,010,149. The stock has a fifty day moving average price of $171.28 and a 200-day moving average price of $162.41. Rockwell Automation has a 12-month low of $141.46 and a 12-month high of $207.11. The company has a debt-to-equity ratio of 4.84, a quick ratio of 1.17 and a current ratio of 1.54. The stock has a market capitalization of $22.89 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 2.80 and a beta of 1.41.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Tuesday, November 12th. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.09. Rockwell Automation had a return on equity of 99.27% and a net margin of 10.39%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm earned $2.11 earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. Analysts forecast that Rockwell Automation will post 8.9 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from Rockwell Automation’s previous quarterly dividend of $0.97. Rockwell Automation’s dividend payout ratio (DPR) is currently 47.06%.

In related news, CEO Blake D. Moret sold 1,700 shares of Rockwell Automation stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $179.07, for a total transaction of $304,419.00. Following the completion of the sale, the chief executive officer now owns 41,395 shares of the company’s stock, valued at $7,412,602.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Blake D. Moret sold 7,300 shares of Rockwell Automation stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $179.67, for a total value of $1,311,591.00. Following the sale, the chief executive officer now directly owns 46,995 shares of the company’s stock, valued at approximately $8,443,591.65. The disclosure for this sale can be found here. In the last three months, insiders sold 29,648 shares of company stock valued at $5,720,944. Corporate insiders own 1.43% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Clear Perspective Advisors LLC acquired a new stake in shares of Rockwell Automation during the second quarter worth about $61,000. Evercore Wealth Management LLC acquired a new position in Rockwell Automation in the second quarter valued at approximately $237,000. Ontario Teachers Pension Plan Board lifted its holdings in Rockwell Automation by 241.4% in the second quarter. Ontario Teachers Pension Plan Board now owns 47,525 shares of the industrial products company’s stock valued at $7,786,000 after acquiring an additional 33,603 shares during the period. Boenning & Scattergood Inc. lifted its holdings in Rockwell Automation by 4.0% in the second quarter. Boenning & Scattergood Inc. now owns 3,245 shares of the industrial products company’s stock valued at $532,000 after acquiring an additional 125 shares during the period. Finally, Cabot Wealth Management Inc. lifted its holdings in Rockwell Automation by 25.4% in the second quarter. Cabot Wealth Management Inc. now owns 50,130 shares of the industrial products company’s stock valued at $8,213,000 after acquiring an additional 10,159 shares during the period. 72.81% of the stock is owned by hedge funds and other institutional investors.

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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