Brokerages Set Rockwell Automation, Inc. (NYSE:ROK) Price Target at $283.60

Shares of Rockwell Automation, Inc. (NYSE:ROK) have been assigned a consensus rating of “Hold” from the fifteen analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $286.47.

Several brokerages recently commented on ROK. Barclays reduced their price target on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Morgan Stanley started coverage on shares of Rockwell Automation in a research report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price target for the company. Oppenheimer increased their target price on shares of Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Mizuho increased their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th.

Institutional Trading of Rockwell Automation

Several hedge funds have recently modified their holdings of the company. Pathway Financial Advisers LLC acquired a new stake in shares of Rockwell Automation in the first quarter valued at approximately $26,000. Riverview Trust Co acquired a new stake in shares of Rockwell Automation during the first quarter worth $28,000. ESL Trust Services LLC acquired a new stake in shares of Rockwell Automation during the first quarter worth $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Rockwell Automation during the second quarter worth $36,000. Finally, Cooksen Wealth LLC acquired a new stake in shares of Rockwell Automation during the fourth quarter worth $40,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Stock Up 0.1 %

ROK stock opened at $272.82 on Friday. Rockwell Automation has a 12 month low of $242.81 and a 12 month high of $312.76. The firm has a market cap of $31.10 billion, a PE ratio of 26.67, a P/E/G ratio of 4.64 and a beta of 1.36. The firm has a 50 day simple moving average of $264.95 and a 200 day simple moving average of $267.67. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.08 by $0.63. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.01 EPS. Equities research analysts forecast that Rockwell Automation will post 9.67 earnings per share for the current fiscal year.

Rockwell Automation announced that its board has authorized a stock repurchase plan on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Rockwell Automation Company Profile

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.