Barclays Forecasts Strong Price Appreciation for Rockwell Automation (NYSE:ROK) Stock

Rockwell Automation (NYSE:ROK) had its target price hoisted by research analysts at Barclays from $260.00 to $283.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target would indicate a potential downside of 4.03% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Citigroup decreased their price target on shares of Rockwell Automation from $350.00 to $283.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Oppenheimer raised their target price on shares of Rockwell Automation from $258.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Company increased their price target on Rockwell Automation from $265.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday. BNP Paribas raised Rockwell Automation from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 9th. Finally, Morgan Stanley upped their target price on Rockwell Automation from $335.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $308.37.

Rockwell Automation Stock Up 1.2 %

ROK opened at $294.88 on Thursday. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.72. Rockwell Automation has a twelve month low of $215.00 and a twelve month high of $308.70. The company has a market cap of $33.34 billion, a PE ratio of 36.72, a price-to-earnings-growth ratio of 3.53 and a beta of 1.32. The company has a 50-day moving average price of $251.89 and a 200 day moving average price of $273.72.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.36. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the business posted $2.50 earnings per share. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. Sell-side analysts expect that Rockwell Automation will post 9.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Rockwell Automation

In related news, VP Terry L. Riesterer sold 850 shares of Rockwell Automation stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $300.21, for a total value of $255,178.50. Following the completion of the transaction, the vice president now owns 1,633 shares in the company, valued at approximately $490,242.93. The trade was a 34.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Tessa M. Myers sold 1,231 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $285.43, for a total transaction of $351,364.33. Following the sale, the senior vice president now owns 3,650 shares in the company, valued at approximately $1,041,819.50. This trade represents a 25.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,250 shares of company stock valued at $1,223,428 in the last three months. 0.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rockwell Automation

Several large investors have recently bought and sold shares of ROK. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Rockwell Automation by 0.9% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,775 shares of the industrial products company’s stock worth $1,079,000 after purchasing an additional 33 shares during the last quarter. Whittier Trust Co. lifted its stake in Rockwell Automation by 1.9% during the fourth quarter. Whittier Trust Co. now owns 1,896 shares of the industrial products company’s stock worth $542,000 after purchasing an additional 35 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Rockwell Automation by 0.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company’s stock valued at $1,199,000 after purchasing an additional 38 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in Rockwell Automation by 3.0% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,351 shares of the industrial products company’s stock valued at $386,000 after purchasing an additional 39 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. raised its holdings in Rockwell Automation by 3.8% during the fourth quarter. Fortitude Advisory Group L.L.C. now owns 1,082 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

About Rockwell Automation

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.