Rockwell Automation (NYSE:ROK) Price Target Raised to $304.00 at Oppenheimer

Rockwell Automation (NYSE:ROK) had its price target upped by equities research analysts at Oppenheimer from $258.00 to $304.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target indicates a potential upside of 3.09% from the stock’s previous close.

Several other analysts have also recently issued reports on ROK. Loop Capital upped their price objective on Rockwell Automation from $260.00 to $280.00 and gave the stock a “hold” rating in a report on Tuesday, February 25th. Morgan Stanley increased their price objective on shares of Rockwell Automation from $335.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group boosted their target price on shares of Rockwell Automation from $257.00 to $290.00 and gave the stock a “sell” rating in a report on Tuesday, February 11th. Stephens upgraded Rockwell Automation from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $275.00 to $350.00 in a research report on Thursday, January 16th. Finally, Robert W. Baird upped their price objective on Rockwell Automation from $305.00 to $315.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rockwell Automation currently has a consensus rating of “Moderate Buy” and a consensus price target of $308.37.

Rockwell Automation Price Performance

ROK stock opened at $294.88 on Thursday. The company has a market capitalization 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’s fifty day moving average price is $251.89 and its 200-day moving average price is $273.72. Rockwell Automation has a one year low of $215.00 and a one year high of $308.70. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.36. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 earnings per share. On average, equities analysts anticipate that Rockwell Automation will post 9.35 EPS for the current fiscal year.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, VP Isaac Woods sold 876 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $284.03, for a total transaction of $248,810.28. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at $300,219.71. This represents a 45.32 % 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 1,231 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $285.43, for a total transaction of $351,364.33. Following the transaction, the senior vice president now directly owns 3,650 shares in the company, valued at $1,041,819.50. This trade represents a 25.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,250 shares of company stock worth $1,223,428. Company insiders own 0.68% of the company’s stock.

Institutional Trading of Rockwell Automation

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Citizens National Bank Trust Department purchased a new position in Rockwell Automation in the first quarter valued at about $26,000. West Oak Capital LLC raised its stake in shares of Rockwell Automation by 455.6% during the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 82 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in Rockwell Automation during the first quarter valued at approximately $31,000. IMA Advisory Services Inc. acquired a new stake in Rockwell Automation in the first quarter valued at approximately $32,000. Finally, Bank of Jackson Hole Trust purchased a new position in Rockwell Automation in the fourth quarter worth $34,000. 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.