Rockwell Automation (NYSE:ROK) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Rockwell Automation (NYSE:ROK) had its price target upped by equities researchers at Wells Fargo & Company from $315.00 to $365.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 6.51% from the company’s previous close.

A number of other equities analysts have also weighed in on ROK. TD Cowen upgraded 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. Loop Capital upped their price objective on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock a “hold” rating in a research report on Thursday, May 15th. Citigroup raised their target price on shares of Rockwell Automation from $327.00 to $371.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. KeyCorp reiterated an “overweight” rating and set a $360.00 target price (up from $345.00) on shares of Rockwell Automation in a research report on Friday, June 13th. Finally, Oppenheimer increased their price target on shares of Rockwell Automation from $258.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $324.37.

Rockwell Automation Price Performance

ROK stock opened at $342.68 on Tuesday. The firm has a 50 day moving average of $304.09 and a 200-day moving average of $282.64. The firm has a market capitalization of $38.63 billion, a P/E ratio of 43.16, a price-to-earnings-growth ratio of 3.81 and a beta of 1.38. Rockwell Automation has a 12 month low of $215.00 and a 12 month high of $343.29. The company has a current ratio of 1.05, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.09 by $0.36. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the firm earned $2.50 EPS. As a group, sell-side analysts predict that Rockwell Automation will post 9.35 earnings per share for the current fiscal year.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, SVP Matheus De A. G. Viera Bulho sold 526 shares of Rockwell Automation stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total value of $171,134.10. Following the transaction, the senior vice president directly owned 983 shares of the company’s stock, valued at $319,819.05. The trade was a 34.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Isaac Woods sold 297 shares of Rockwell Automation stock in a transaction on Monday, June 9th. The stock was sold at an average price of $326.31, for a total transaction of $96,914.07. Following the completion of the transaction, the vice president directly owned 1,691 shares in the company, valued at approximately $551,790.21. The trade was a 14.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,388 shares of company stock worth $2,307,487 over the last three months. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Rockwell Automation

Several hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Bancorp increased its holdings in Rockwell Automation by 8.5% during the 1st quarter. Fifth Third Bancorp now owns 5,424 shares of the industrial products company’s stock valued at $1,401,000 after purchasing an additional 423 shares during the period. Teacher Retirement System of Texas increased its stake in shares of 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 buying an additional 299 shares during the period. Brighton Jones LLC bought a new position in shares of Rockwell Automation during the fourth quarter valued at approximately $281,000. Schroder Investment Management Group lifted its stake in Rockwell Automation by 14.9% in the fourth quarter. Schroder Investment Management Group now owns 14,478 shares of the industrial products company’s stock worth $4,135,000 after acquiring an additional 1,872 shares during the period. Finally, Banque Transatlantique SA bought a new stake in Rockwell Automation in the fourth quarter valued at $8,289,000. 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.