Notable Price Action: After Making 52-Week High, Is Rockwell Automation’s Near-Term Analysis Positive?

Notable Price Action: After Making 52 Week High, Is Rockwell Automation's Near Term Analysis Positive?

The stock of Rockwell Automation (NYSE:ROK) hit a new 52-week high and has $197.80 target or 62.00% above today’s $122.10 share price. The 6 months bullish chart indicates low risk for the $15.72B company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $197.80 price target is reached, the company will be worth $9.75 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 986,545 shares traded hands or 51.47% up from the average. Rockwell Automation (NYSE:ROK) has risen 11.67% since February 26, 2016 and is uptrending. It has outperformed by 1.25% the S&P500.

Analysts await Rockwell Automation (NYSE:ROK) to report earnings on November, 8. They expect $1.49 earnings per share, down 5.10% or $0.08 from last year’s $1.57 per share. ROK’s profit will be $191.88M for 20.48 P/E if the $1.49 EPS becomes a reality. After $1.55 actual earnings per share reported by Rockwell Automation for the previous quarter, Wall Street now forecasts -3.87% negative EPS growth.

Rockwell Automation (NYSE:ROK) Ratings Coverage

Out of 12 analysts covering Rockwell Automation (NYSE:ROK), 2 rate it a “Buy”, 3 “Sell”, while 7 “Hold”. This means 17% are positive. Rockwell Automation has been the topic of 27 analyst reports since September 9, 2015 according to StockzIntelligence Inc. The stock of Rockwell Automation (NYSE:ROK) has “Neutral” rating given on Thursday, January 21 by Citigroup. Deutsche Bank maintained Rockwell Automation (NYSE:ROK) on Wednesday, November 11 with “Buy” rating. The stock of Rockwell Automation (NYSE:ROK) earned “Underperform” rating by Sterne Agee CRT on Wednesday, September 9. The stock has “Neutral” rating given by Robert W. Baird on Monday, October 5. The stock of Rockwell Automation (NYSE:ROK) has “Underperform” rating given on Wednesday, November 11 by CLSA. The company was downgraded on Thursday, April 28 by Langenberg. The stock has “Neutral” rating given by Citigroup on Tuesday, April 19. On Thursday, October 29 the stock rating was downgraded by Bank of America to “Underperform”. As per Wednesday, November 11, the company rating was downgraded by Credit Agricole. Bernstein downgraded Rockwell Automation (NYSE:ROK) on Thursday, January 28 to “Underperform” rating.

According to Zacks Investment Research, “Rockwell Automation is a leading global provider of industrial automation power, control and information solutions that help customers meet their manufacturing productivity objectives. The Company brings together leading brands in industrial automation for Complete Automation solutions, including Allen-Bradley controls and services, Dodge mechanical power transmission products, Reliance Electric motors and drives, and Rockwell Software factory management software.”

Insitutional Activity: The institutional sentiment increased to 1 in Q2 2016. Its up 0.03, from 0.97 in 2016Q1. The ratio improved, as 36 funds sold all Rockwell Automation shares owned while 186 reduced positions. 41 funds bought stakes while 180 increased positions. They now own 89.69 million shares or 11.28% less from 101.09 million shares in 2016Q1.
Hightower Advsr Limited Liability Company owns 9,919 shares or 0.01% of their US portfolio. Oakworth Inc last reported 195 shares in the company. The North Carolina-based Ncm Capital Advisers has invested 1.51% in Rockwell Automation (NYSE:ROK). Fiera Cap Corporation has invested 0.01% of its portfolio in Rockwell Automation (NYSE:ROK). Crossvault Capital Mngmt Ltd Liability Co has 25,380 shares for 2.06% of their US portfolio. Nj State Employees Deferred Compensation Plan last reported 0.24% of its portfolio in the stock. Portland Glob Lc owns 17,930 shares or 0.94% of their US portfolio. Huntington Savings Bank, a Ohio-based fund reported 15,324 shares. The Massachusetts-based Panagora Asset Management has invested 0.09% in Rockwell Automation (NYSE:ROK). Suntrust Banks Incorporated has 0.01% invested in the company for 7,517 shares. Synovus Fincl Corp has invested 0.1% of its portfolio in Rockwell Automation (NYSE:ROK). Fiduciary Management Wi has 1.36M shares for 0.95% of their US portfolio. Ftb Advisors holds 0% of its portfolio in Rockwell Automation (NYSE:ROK) for 29 shares. Lazard Asset Management Ltd Com accumulated 4.64 million shares or 1.23% of the stock. Bluemountain Capital Management Lc holds 4,575 shares or 0.01% of its portfolio.

Insider Transactions: Since April 13, 2016, the stock had 0 insider purchases, and 13 sales for $6.20 million net activity. The insider HAGERMAN DOUGLAS M sold $799,605. The insider MCCORMICK WILLIAM T JR/WI sold 686 shares worth $80,279. $519,188 worth of Rockwell Automation (NYSE:ROK) was sold by Parfet Donald R. 2,200 shares were sold by DORGAN DAVID M, worth $261,926. On Monday, August 8 Kulaszewicz Frank C sold $1.09 million worth of the stock or 9,267 shares. On Thursday, May 5 MILLER JOHN M sold $210,136 worth of the stock or 1,881 shares. 5,404 Rockwell Automation (NYSE:ROK) shares with value of $640,322 were sold by CRANDALL THEODORE D.

More recent Rockwell Automation (NYSE:ROK) news were published by: Forbes.com which released: “Rockwell Automation Enters Oversold Territory” on September 09, 2016. Also Biztimes.com published the news titled: “Rockwell Automation acquires Georgia firm” on September 12, 2016. Zacks.com‘s news article titled: “Rockwell Automation to Gain from New Products, Risks Stay” with publication date: September 15, 2016 was also an interesting one.

ROK Company Profile

Rockwell Automation, Inc. (Rockwell Automation), incorporated on August 29, 1996, is a well-known provider of industrial automation power, control and information solutions for manufacturers. The Firm operates through two divisions: Architecture & Software and Control Products & Solutions. In the United States, Canada and certain other countries the Company sells primarily through the independent distributors. In the remaining countries, the Company sells through a combination of direct sales and sales through distributors. The Firm sells large systems and service offerings through its direct sales force.

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