Rockwell Automation (NYSE:ROK) PT Lowered to $316.00

Rockwell Automation (NYSE:ROK) had its target price reduced by equities researchers at Citigroup from $322.00 to $316.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Citigroup’s target price indicates a potential upside of 16.82% from the company’s current price.

ROK has been the topic of several other research reports. Wells Fargo & Company lowered their price target on Rockwell Automation from $320.00 to $312.00 and set an “overweight” rating on the stock in a report on Wednesday. Mizuho decreased their price objective on Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Wednesday. Oppenheimer decreased their price objective on Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, February 1st. Robert W. Baird decreased their price objective on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Berenberg Bank reissued a “hold” rating and set a $290.00 price objective (down from $330.00) on shares of Rockwell Automation in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $307.93.

Rockwell Automation Stock Performance

NYSE:ROK opened at $270.50 on Wednesday. The business’s 50-day moving average price is $281.65 and its two-hundred day moving average price is $283.04. Rockwell Automation has a twelve month low of $252.11 and a twelve month high of $348.52. The stock has a market cap of $31.00 billion, a P/E ratio of 25.74, a PEG ratio of 2.77 and a beta of 1.43. 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 (NYSE:ROK) last released its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.35. Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the firm posted $3.01 EPS. The company’s revenue was down 6.6% compared to the same quarter last year. As a group, equities analysts predict that Rockwell Automation will post 11.98 EPS for the current fiscal year.

Insider Activity at Rockwell Automation

In related news, VP Scott Genereux sold 500 shares of Rockwell Automation stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $280.52, for a total transaction of $140,260.00. Following the sale, the vice president now directly owns 4,383 shares in the company, valued at $1,229,519.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Isaac Woods sold 150 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $287.59, for a total value of $43,138.50. Following the completion of the transaction, the vice president now owns 1,199 shares in the company, valued at $344,820.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott Genereux sold 500 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $280.52, for a total value of $140,260.00. Following the completion of the transaction, the vice president now owns 4,383 shares of the company’s stock, valued at approximately $1,229,519.16. The disclosure for this sale can be found here. Insiders have sold 17,240 shares of company stock worth $4,891,324 over the last ninety days. 0.68% of the stock is owned by corporate insiders.

Institutional Trading of Rockwell Automation

Hedge funds have recently bought and sold shares of the company. KLCM Advisors Inc. increased its position in Rockwell Automation by 16.6% during the third quarter. KLCM Advisors Inc. now owns 1,136 shares of the industrial products company’s stock valued at $325,000 after acquiring an additional 162 shares during the last quarter. Patrick M Sweeney & Associates Inc. purchased a new stake in Rockwell Automation during the fourth quarter valued at $380,000. Tokio Marine Asset Management Co. Ltd. increased its position in Rockwell Automation by 9.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,728 shares of the industrial products company’s stock valued at $780,000 after acquiring an additional 234 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Rockwell Automation by 676.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 32,156 shares of the industrial products company’s stock valued at $9,984,000 after acquiring an additional 28,016 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in Rockwell Automation by 0.9% during the third quarter. Mercer Global Advisors Inc. ADV now owns 11,423 shares of the industrial products company’s stock valued at $3,266,000 after acquiring an additional 97 shares during the last quarter. Hedge funds and other 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.