Rockwell Automation (NYSE:ROK – Get Free Report) was upgraded by equities researchers at Stephens from an “equal weight” rating to an “overweight” rating in a report released on Thursday, Marketbeat.com reports. The firm currently has a $350.00 price target on the industrial products company’s stock, up from their previous price target of $275.00. Stephens’ target price points to a potential upside of 21.93% from the company’s current price.
A number of other research firms also recently commented on ROK. Morgan Stanley increased their price objective on Rockwell Automation from $320.00 to $335.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Mizuho increased their price target on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Bank of America boosted their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company lifted their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating for the company in a research note on Wednesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $304.16.
View Our Latest Analysis on ROK
Rockwell Automation Stock Up 2.2 %
Rockwell Automation (NYSE:ROK – Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The company’s revenue was down 20.6% on a year-over-year basis. During the same period last year, the business earned $3.64 EPS. As a group, equities research analysts predict that Rockwell Automation will post 9.37 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, CEO Blake D. Moret sold 26,700 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the transaction, the chief executive officer now directly owns 78,115 shares in the company, valued at $23,327,482.45. The trade was a 25.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Scott Genereux sold 278 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $302.04, for a total transaction of $83,967.12. Following the completion of the sale, the vice president now owns 3,184 shares of the company’s stock, valued at approximately $961,695.36. The trade was a 8.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,436 shares of company stock worth $10,832,549. 0.68% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp boosted its position in shares of Rockwell Automation by 0.3% during the 3rd quarter. State Street Corp now owns 4,648,137 shares of the industrial products company’s stock worth $1,247,839,000 after purchasing an additional 11,949 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Rockwell Automation by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,683,202 shares of the industrial products company’s stock valued at $717,865,000 after purchasing an additional 14,040 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Rockwell Automation by 33.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,556,292 shares of the industrial products company’s stock worth $417,802,000 after buying an additional 390,784 shares in the last quarter. Accredited Investors Inc. grew its position in Rockwell Automation by 162,058.5% during the third quarter. Accredited Investors Inc. now owns 1,185,379 shares of the industrial products company’s stock worth $318,227,000 after buying an additional 1,184,648 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Rockwell Automation by 6.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,128,811 shares of the industrial products company’s stock valued at $303,041,000 after buying an additional 67,684 shares in the last quarter. 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.
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