Citigroup Issues Positive Forecast for Rockwell Automation (NYSE:ROK) Stock Price

Rockwell Automation (NYSE:ROK - Get Free Report) had its price target upped by equities researchers at Citigroup from $371.00 to $392.00 in a report issued on Monday,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 13.96% from the company's previous close.

A number of other research firms also recently issued reports on ROK. Oppenheimer raised their price target on Rockwell Automation from $258.00 to $304.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Loop Capital boosted their target price on Rockwell Automation from $280.00 to $290.00 and gave the company a "hold" rating in a report on Thursday, May 15th. CICC Research assumed coverage on Rockwell Automation in a report on Monday, July 7th. They issued an "outperform" rating and a $381.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Rockwell Automation from $271.00 to $299.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Wells Fargo & Company boosted their target price on Rockwell Automation from $315.00 to $365.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Rockwell Automation presently has a consensus rating of "Moderate Buy" and an average price target of $333.11.

Rockwell Automation Trading Up 0.3%

Rockwell Automation stock traded up $0.92 during midday trading on Monday, reaching $343.99. 439,080 shares of the stock traded hands, compared to its average volume of 863,369. The company has a 50-day simple moving average of $317.25 and a two-hundred day simple moving average of $285.05. Rockwell Automation has a 12-month low of $215.00 and a 12-month high of $348.43. The firm has a market cap of $38.77 billion, a PE ratio of 43.33, a price-to-earnings-growth ratio of 3.86 and a beta of 1.38. The company has a current ratio of 1.05, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.09 by $0.36. Rockwell Automation had a return on equity of 30.16% and a net margin of 11.38%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the company earned $2.50 EPS. Rockwell Automation's revenue for the quarter was down 5.9% compared to the same quarter last year. Research analysts expect that Rockwell Automation will post 9.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Tessa M. Myers sold 363 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $326.32, for a total transaction of $118,454.16. Following the sale, the senior vice president directly owned 4,063 shares in the company, valued at approximately $1,325,838.16. This trade represents a 8.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Matthew W. Fordenwalt sold 500 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $320.02, for a total value of $160,010.00. Following the sale, the senior vice president owned 2,709 shares in the company, valued at approximately $866,934.18. The trade was a 15.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,388 shares of company stock worth $2,307,487. Corporate insiders own 0.68% of the company's stock.

Institutional Investors Weigh In On Rockwell Automation

Hedge funds have recently bought and sold shares of the business. Citizens National Bank Trust Department acquired a new position in shares of Rockwell Automation in the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Rockwell Automation in the 1st quarter worth approximately $31,000. IMA Advisory Services Inc. acquired a new position in shares of Rockwell Automation in the 1st quarter worth approximately $32,000. Cooksen Wealth LLC acquired a new position in shares of Rockwell Automation in the 1st quarter worth approximately $34,000. Finally, Parvin Asset Management LLC acquired a new position in shares of Rockwell Automation in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 75.75% of the company's stock.

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.

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