Rockwell Automation (NYSE:ROK) Price Target Cut to $305.00

Rockwell Automation (NYSE:ROK) had its price objective dropped by Wells Fargo & Company from $312.00 to $305.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 11.22% from the company’s current price.

Several other equities research analysts have also commented on ROK. Mizuho reduced their price target on shares of Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Barclays dropped their price target on Rockwell Automation from $260.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, June 4th. Loop Capital decreased their price target on Rockwell Automation from $300.00 to $290.00 and set a “hold” rating on the stock in a report on Tuesday, May 14th. Robert W. Baird decreased their price target on shares of Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Finally, Citigroup cut their price objective on shares of Rockwell Automation from $322.00 to $316.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $300.71.

Rockwell Automation Price Performance

ROK opened at $274.23 on Wednesday. The stock has a 50-day moving average price of $264.65 and a 200-day moving average price of $279.33. The company has a current ratio of 1.11, a quick ratio of 0.74 and a debt-to-equity ratio of 0.69. Rockwell Automation has a 12-month low of $249.00 and a 12-month high of $348.52. The stock has a market capitalization of $31.26 billion, a P/E ratio of 26.81, a PEG ratio of 4.38 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.15 by $0.35. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.05 billion. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.01 earnings per share. Equities analysts predict that Rockwell Automation will post 10.15 earnings per share for the current fiscal year.

Insider Activity at Rockwell Automation

In related news, VP John M. Miller sold 467 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $273.27, for a total value of $127,617.09. Following the completion of the sale, the vice president now owns 4,800 shares of the company’s stock, valued at $1,311,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Rockwell Automation news, VP John M. Miller sold 467 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $273.27, for a total value of $127,617.09. Following the sale, the vice president now owns 4,800 shares of the company’s stock, valued at $1,311,696. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Tessa M. Myers sold 528 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total transaction of $133,995.84. Following the sale, the senior vice president now directly owns 3,718 shares in the company, valued at $943,554.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,199 shares of company stock valued at $572,750. 0.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Rockwell Automation by 3.2% during the first quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company’s stock worth $4,092,891,000 after purchasing an additional 438,356 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Rockwell Automation by 951.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock worth $1,611,915,000 after buying an additional 5,006,706 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Rockwell Automation by 32.0% during the first quarter. Lazard Asset Management LLC now owns 1,510,019 shares of the industrial products company’s stock worth $439,912,000 after acquiring an additional 365,795 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Rockwell Automation by 6.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 955,574 shares of the industrial products company’s stock valued at $278,387,000 after buying an additional 54,948 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its stake in shares of Rockwell Automation by 82.4% during the first quarter. Champlain Investment Partners LLC now owns 859,717 shares of the industrial products company’s stock worth $250,461,000 after buying an additional 388,400 shares during the period. Institutional investors and hedge funds 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.