Rockwell Automation (NYSE:ROK) Upgraded by UBS Group to Hold Rating

Rockwell Automation (NYSE:ROK) was upgraded by investment analysts at UBS Group to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Mizuho raised their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Morgan Stanley initiated coverage on Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price objective for the company. Barclays increased their target price on Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. BNP Paribas initiated coverage on Rockwell Automation in a research note on Wednesday. They issued an “outperform” rating and a $345.00 price target for the company. Finally, Bank of America increased their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $285.13.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $286.43 on Tuesday. The business’s 50 day moving average is $267.96 and its 200-day moving average is $266.69. The firm has a market cap of $32.34 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 2.98 and a beta of 1.36. Rockwell Automation has a 1-year low of $242.81 and a 1-year high of $312.76. The company has a current ratio of 1.08, a quick ratio of 1.17 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the firm earned $3.64 earnings per share. The company’s revenue was down 20.6% on a year-over-year basis. Equities research analysts predict that Rockwell Automation will post 9.46 earnings per share for the current year.

Rockwell Automation announced that its Board of Directors has approved a share buyback plan on Thursday, September 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $266.86, for a total value 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 $1,221,151.36. This represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Rockwell Automation

A number of institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new position in shares of Rockwell Automation during the 1st quarter worth approximately $66,000. Russell Investments Group Ltd. grew its holdings in Rockwell Automation by 18.8% in the first quarter. Russell Investments Group Ltd. now owns 49,947 shares of the industrial products company’s stock worth $14,550,000 after purchasing an additional 7,919 shares during the period. Avantax Advisory Services Inc. increased its stake in Rockwell Automation by 15.0% in the first quarter. Avantax Advisory Services Inc. now owns 3,294 shares of the industrial products company’s stock valued at $960,000 after purchasing an additional 429 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Rockwell Automation by 5.5% during the first quarter. Kingsview Wealth Management LLC now owns 2,730 shares of the industrial products company’s stock valued at $795,000 after purchasing an additional 142 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its position in shares of Rockwell Automation by 4.0% during the 1st quarter. Orion Portfolio Solutions LLC now owns 9,710 shares of the industrial products company’s stock worth $2,829,000 after purchasing an additional 377 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

About Rockwell Automation

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.