Stephens Reiterates "Overweight" Rating for Rockwell Automation (NYSE:ROK)

Rockwell Automation (NYSE:ROK - Get Free Report)'s stock had its "overweight" rating restated by equities researchers at Stephens in a report issued on Wednesday, MarketBeat Ratings reports. They presently have a $375.00 price objective on the industrial products company's stock, up from their prior price objective of $350.00. Stephens' price target suggests a potential upside of 5.10% from the company's previous close.

Several other research firms have also recently issued reports on ROK. Loop Capital raised their target price on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Thursday, May 15th. KeyCorp raised their target price on Rockwell Automation from $360.00 to $370.00 and gave the stock an "overweight" rating in a research note on Tuesday. TD Cowen raised Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 target price on the stock in a research note on Friday, May 9th. Bank of America raised Rockwell Automation from a "neutral" rating to a "buy" rating and raised their target price for the stock from $360.00 to $410.00 in a research note on Wednesday. Finally, Citigroup reissued a "buy" rating and issued a $392.00 target price (up from $371.00) on shares of Rockwell Automation in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $341.11.

Rockwell Automation Trading Up 1.5%

Shares of ROK traded up $5.15 during trading hours on Wednesday, hitting $356.82. The company had a trading volume of 680,155 shares, compared to its average volume of 865,641. The firm has a market cap of $40.22 billion, a P/E ratio of 44.94, a P/E/G ratio of 3.90 and a beta of 1.38. The stock's 50 day moving average price is $322.29 and its 200 day moving average price is $286.30. The company has a quick ratio of 0.72, a current ratio of 1.05 and a debt-to-equity ratio of 0.71. Rockwell Automation has a 52-week low of $215.00 and a 52-week high of $357.58.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.09 by $0.36. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.50 earnings per share. On average, research analysts predict that Rockwell Automation will post 9.35 EPS for the current year.

Insider Buying and Selling

In related news, VP Terry L. Riesterer sold 2,500 shares of the business'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 completion of the transaction, the vice president directly owned 1,033 shares in the company, valued at $314,166.29. The trade was a 70.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tessa M. Myers sold 363 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $326.32, for a total transaction of $118,454.16. Following the sale, the senior vice president owned 4,063 shares of the company's stock, valued at approximately $1,325,838.16. This represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,388 shares of company stock worth $2,307,487 over the last 90 days. 0.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rockwell Automation

Hedge funds have recently modified their holdings of the business. Fifth Third Bancorp boosted its holdings in Rockwell Automation by 8.5% in the 1st quarter. Fifth Third Bancorp now owns 5,424 shares of the industrial products company's stock worth $1,401,000 after buying an additional 423 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of Rockwell Automation by 39.1% during the 4th 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 during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Rockwell Automation by 0.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company's stock valued at $1,462,000 after purchasing an additional 43 shares during the last quarter. Brighton Jones LLC bought a new position in shares of Rockwell Automation during the 4th quarter valued at about $281,000. Finally, Schroder Investment Management Group boosted its holdings in shares of Rockwell Automation by 14.9% during the 4th 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 during the last quarter. 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.