Rockwell Automation (NYSE:ROK) Price Target Raised to $371.00

Rockwell Automation (NYSE:ROK - Get Free Report) had its price target increased by equities researchers at Oppenheimer from $304.00 to $371.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the industrial products company's stock. Oppenheimer's price target would indicate a potential upside of 4.21% from the company's previous close.

Several other equities analysts also recently weighed in on the stock. TD Cowen upgraded shares of Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 price target on the stock in a report on Friday, May 9th. Wells Fargo & Company increased their price objective on shares of Rockwell Automation from $315.00 to $365.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. BNP Paribas upgraded shares of Rockwell Automation from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 9th. KeyCorp upped their price target on shares of Rockwell Automation from $360.00 to $370.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Loop Capital lifted their price objective on Rockwell Automation from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $341.11.

Rockwell Automation Stock Performance

Shares of ROK traded down $0.49 during trading hours on Thursday, reaching $356.00. 681,638 shares of the company traded hands, compared to its average volume of 864,562. The company has a quick ratio of 0.72, a current ratio of 1.05 and a debt-to-equity ratio of 0.71. The business has a fifty day moving average price of $324.82 and a 200-day moving average price of $287.27. Rockwell Automation has a 12-month low of $215.00 and a 12-month high of $359.16. The stock has a market capitalization of $40.13 billion, a P/E ratio of 44.84, a P/E/G ratio of 3.64 and a beta of 1.38.

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 for the quarter, beating the consensus estimate of $2.09 by $0.36. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. Rockwell Automation had a return on equity of 30.16% and a net margin of 11.38%. The company's quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.50 EPS. Equities analysts anticipate that Rockwell Automation will post 9.35 EPS for the current fiscal year.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, SVP Matthew W. Fordenwalt sold 289 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $326.33, for a total transaction of $94,309.37. Following the transaction, the senior vice president directly owned 3,196 shares of the company's stock, valued at $1,042,950.68. This trade represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Tessa M. Myers sold 363 shares of the business'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 of the company's stock, valued at $1,325,838.16. This represents a 8.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,757 shares of company stock worth $3,138,220 in the last ninety days. Company insiders own 0.68% of the company's stock.

Hedge Funds Weigh In On Rockwell Automation

Hedge funds and other institutional investors have recently made changes to their positions in the company. Citizens National Bank Trust Department acquired a new stake in Rockwell Automation in the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Rockwell Automation in the first quarter valued at approximately $31,000. IMA Advisory Services Inc. acquired a new stake in shares of Rockwell Automation in the first quarter valued at approximately $32,000. Cooksen Wealth LLC purchased a new position in Rockwell Automation during the first quarter worth approximately $34,000. Finally, Parvin Asset Management LLC acquired a new position in Rockwell Automation during the fourth quarter worth $36,000. Hedge funds and other institutional investors 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.