JPMorgan Chase & Co. Reiterates Underweight Rating for Rockwell Automation (NYSE:ROK)

Rockwell Automation (NYSE:ROKGet Free Report)‘s stock had its “underweight” rating reiterated by investment analysts at JPMorgan Chase & Co. in a report issued on Thursday, Benzinga reports. They presently have a $254.00 target price on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 11.29% from the company’s previous close.

ROK has been the topic of a number of other reports. Mizuho lowered their price objective on shares of Rockwell Automation from $300.00 to $265.00 and set a “neutral” rating on the stock in a research note on Thursday, February 1st. UBS Group raised shares of Rockwell Automation from a “neutral” rating to a “buy” rating and increased their price objective for the company from $305.00 to $360.00 in a research note on Wednesday, January 3rd. Oppenheimer lowered their price objective on shares of Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, February 1st. Citigroup lowered their price objective on shares of Rockwell Automation from $351.00 to $330.00 and set a “buy” rating on the stock in a research note on Thursday, February 1st. Finally, Wells Fargo & Company lowered their price objective on shares of Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $308.36.

Get Our Latest Stock Analysis on Rockwell Automation

Rockwell Automation Stock Performance

NYSE:ROK opened at $286.32 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 0.76. Rockwell Automation has a fifty-two week low of $252.11 and a fifty-two week high of $348.52. The stock has a market cap of $32.81 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 2.64 and a beta of 1.43. The firm’s fifty day simple moving average is $285.62 and its 200-day simple moving average is $285.28.

Rockwell Automation (NYSE:ROKGet Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.58). Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the company earned $2.46 earnings per share. Analysts expect that Rockwell Automation will post 12.29 earnings per share for the current fiscal year.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, CFO Nicholas C. Gangestad sold 1,989 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.17, for a total value of $573,170.13. Following the completion of the sale, the chief financial officer now owns 12,217 shares of the company’s stock, valued at $3,520,572.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Brian A. Shepherd sold 637 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $262.87, for a total transaction of $167,448.19. Following the completion of the sale, the vice president now owns 5,088 shares of the company’s stock, valued at $1,337,482.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Nicholas C. Gangestad sold 1,989 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $288.17, for a total transaction of $573,170.13. Following the sale, the chief financial officer now directly owns 12,217 shares of the company’s stock, valued at approximately $3,520,572.89. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,877 shares of company stock worth $5,058,772. Company insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Rockwell Automation

Hedge funds have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC acquired a new position in Rockwell Automation in the fourth quarter worth $27,000. OFI Invest Asset Management acquired a new position in Rockwell Automation in the third quarter worth $26,000. Provence Wealth Management Group acquired a new position in Rockwell Automation in the third quarter worth $27,000. BluePath Capital Management LLC bought a new stake in Rockwell Automation in the third quarter valued at $29,000. Finally, Clear Street Markets LLC acquired a new position in shares of Rockwell Automation during the fourth quarter valued at $30,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

About Rockwell Automation

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Rockwell Automation (NYSE:ROK)

Receive News & Ratings for Rockwell Automation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Automation and related companies with MarketBeat.com's FREE daily email newsletter.