Rockwell Automation (NYSE:ROK) Given New $360.00 Price Target at KeyCorp

Rockwell Automation (NYSE:ROK - Get Free Report) had its price target raised by equities researchers at KeyCorp from $345.00 to $360.00 in a report issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. KeyCorp's price objective indicates a potential upside of 13.44% from the company's previous close.

Several other brokerages have also commented on ROK. Barclays upgraded shares of Rockwell Automation from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $283.00 to $350.00 in a report on Friday, May 30th. JPMorgan Chase & Co. increased their price target on shares of Rockwell Automation from $271.00 to $299.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Loop Capital increased their price target 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. Wells Fargo & Company increased their price target on shares of Rockwell Automation from $265.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, BNP Paribas upgraded shares of Rockwell Automation from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $317.79.

Rockwell Automation Price Performance

Shares of NYSE:ROK traded down $7.78 during trading on Friday, reaching $317.36. The company had a trading volume of 696,490 shares, compared to its average volume of 884,068. Rockwell Automation has a 12 month low of $215.00 and a 12 month high of $328.90. The stock has a market capitalization of $35.77 billion, a P/E ratio of 39.52, a price-to-earnings-growth ratio of 3.53 and a beta of 1.38. The company has a fifty day moving average of $277.47 and a two-hundred day moving average of $279.73. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings data 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 net margin of 11.38% and a return on equity of 30.17%. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the prior year, the company earned $2.50 EPS. The firm's revenue was down 5.9% on a year-over-year basis. Equities research analysts forecast that Rockwell Automation will post 9.35 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Terry L. Riesterer sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $304.13, for a total value of $760,325.00. Following the transaction, the vice president now owns 1,033 shares of the company's stock, valued at approximately $314,166.29. This trade represents a 70.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Tessa M. Myers sold 363 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 4,063 shares in the company, valued at approximately $1,325,838.16. The trade was a 8.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,681 shares of company stock valued at $2,382,987. 0.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Rockwell Automation

Large investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas lifted its holdings in Rockwell Automation by 39.1% during the fourth quarter. Teacher Retirement System of Texas now owns 1,063 shares of the industrial products company's stock valued at $304,000 after purchasing an additional 299 shares in the last quarter. Brighton Jones LLC purchased a new position in Rockwell Automation during the fourth quarter valued at approximately $281,000. Schroder Investment Management Group lifted its holdings in Rockwell Automation by 14.9% during the fourth quarter. Schroder Investment Management Group now owns 14,478 shares of the industrial products company's stock valued at $4,135,000 after purchasing an additional 1,872 shares in the last quarter. Savant Capital LLC lifted its holdings in Rockwell Automation by 119.7% during the fourth quarter. Savant Capital LLC now owns 6,631 shares of the industrial products company's stock valued at $1,895,000 after purchasing an additional 3,613 shares in the last quarter. Finally, Banque Transatlantique SA bought a new stake in shares of Rockwell Automation during the fourth quarter valued at approximately $8,289,000. 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.