Rockwell Automation (NYSE:ROK) Given New $370.00 Price Target at KeyCorp

Rockwell Automation (NYSE:ROK - Get Free Report) had its price objective increased by equities researchers at KeyCorp from $360.00 to $370.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the industrial products company's stock. KeyCorp's target price would indicate a potential upside of 6.74% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Oppenheimer increased their target price on shares of Rockwell Automation from $258.00 to $304.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Barclays raised their price target on shares of Rockwell Automation from $350.00 to $370.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Loop Capital raised their target price on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Thursday, May 15th. BNP Paribas raised shares of Rockwell Automation from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 9th. Finally, Bank of America raised their target price on shares of Rockwell Automation from $330.00 to $360.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Rockwell Automation has an average rating of "Moderate Buy" and an average price target of $333.63.

Rockwell Automation Stock Up 1.0%

Rockwell Automation stock traded up $3.47 during mid-day trading on Tuesday, reaching $346.64. 979,576 shares of the company were exchanged, compared to its average volume of 864,470. The business has a fifty day moving average of $319.04 and a 200 day moving average of $285.42. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 1.05. The firm has a market cap of $39.07 billion, a P/E ratio of 43.66, a PEG ratio of 3.86 and a beta of 1.38. Rockwell Automation has a 12-month low of $215.00 and a 12-month high of $351.15.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the business earned $2.50 earnings per share. Rockwell Automation's revenue was down 5.9% on a year-over-year basis. Research analysts anticipate that Rockwell Automation will post 9.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Christopher Nardecchia sold 551 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $326.31, for a total value of $179,796.81. Following the completion of the transaction, the senior vice president owned 12,711 shares in the company, valued at $4,147,726.41. The trade was a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Tessa M. Myers sold 363 shares of Rockwell Automation stock in a transaction on 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 of the company's stock, valued at approximately $1,325,838.16. This trade represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,388 shares of company stock valued at $2,307,487. Corporate insiders own 0.68% of the company's stock.

Institutional Investors Weigh In On Rockwell Automation

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Rockwell Automation by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 13,876,530 shares of the industrial products company's stock valued at $3,965,774,000 after acquiring an additional 81,079 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Rockwell Automation by 6.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,115,280 shares of the industrial products company's stock valued at $2,033,476,000 after acquiring an additional 432,934 shares during the last quarter. Geode Capital Management LLC lifted its position in Rockwell Automation by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 2,734,430 shares of the industrial products company's stock valued at $779,426,000 after acquiring an additional 51,228 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Rockwell Automation by 11.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,819,379 shares of the industrial products company's stock valued at $470,091,000 after acquiring an additional 191,370 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Rockwell Automation by 0.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,579,956 shares of the industrial products company's stock valued at $408,229,000 after acquiring an additional 9,920 shares during the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

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.