Rockwell Automation (NYSE:ROK) Hits New 52-Week High - What's Next?

Key Points

• Rockwell Automation's stock reached a new 52-week high of $361.60, with recent trading at $360.10 and a trading volume of 33,827 shares.
• Several analysts have upgraded their ratings, with Barclays raising their price target to $370, while CICC Research set a target of $381.
• Rockwell Automation reported $2.82 earnings per share for its last quarter, exceeding the consensus estimate by $0.15, and had a revenue of $2.14 billion.

Rockwell Automation, Inc. (NYSE:ROK - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $361.60 and last traded at $360.10, with a volume of 33827 shares. The stock had previously closed at $357.16.

Analysts Set New Price Targets

Several brokerages recently weighed in on ROK. Citigroup reissued a "buy" rating on shares of Rockwell Automation in a research note on Thursday, October 9th. Wall Street Zen raised shares of Rockwell Automation from a "hold" rating to a "buy" rating in a research note on Sunday, September 21st. Barclays boosted their price objective on shares of Rockwell Automation from $357.00 to $370.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. CICC Research assumed coverage on shares of Rockwell Automation in a report on Monday, July 7th. They issued an "outperform" rating and a $381.00 target price on the stock. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Rockwell Automation in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $347.94.

Rockwell Automation Stock Up 0.6%

The firm's fifty day moving average price is $345.52 and its two-hundred day moving average price is $320.44. The stock has a market cap of $40.41 billion, a price-to-earnings ratio of 42.21, a price-to-earnings-growth ratio of 3.14 and a beta of 1.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.15. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the business earned $2.71 earnings per share. The business's quarterly revenue was up 4.5% compared to the same quarter last year. Sell-side analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Insider Activity

In other Rockwell Automation news, CEO Blake D. Moret sold 24,400 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $350.13, for a total value of $8,543,172.00. Following the completion of the sale, the chief executive officer directly owned 83,873 shares of the company's stock, valued at approximately $29,366,453.49. This represents a 22.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James P. Keane sold 3,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $356.06, for a total transaction of $1,068,180.00. Following the completion of the sale, the director directly owned 9,192 shares of the company's stock, valued at $3,272,903.52. The trade was a 24.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,553 shares of company stock valued at $10,361,079. 0.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Citizens National Bank Trust Department bought a new position in shares of Rockwell Automation during the 1st quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Rockwell Automation during the 1st quarter valued at approximately $31,000. IMA Advisory Services Inc. bought a new position in shares of Rockwell Automation during the 1st quarter valued at approximately $32,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Rockwell Automation by 468.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 91 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 75 shares during the period. Finally, Rexford Capital Inc. bought a new position in Rockwell Automation in the 2nd quarter worth approximately $33,000. 75.75% of the stock is owned by institutional investors.

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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