Rockwell Automation (NYSE:ROK) Earns Overweight Rating from Stephens

Rockwell Automation (NYSE:ROK)‘s stock had its “overweight” rating reaffirmed by equities researchers at Stephens in a research note issued on Wednesday, Marketbeat Ratings reports. They currently have a $375.00 price objective on the industrial products company’s stock, up from their prior price objective of $350.00. Stephens’ target price would suggest a potential upside of 5.10% from the company’s previous close.

ROK has been the topic of a number of other research reports. TD Cowen raised Rockwell Automation from a “sell” rating to a “hold” rating and set a $275.00 price target on the stock in a report on Friday, May 9th. Oppenheimer boosted their price objective 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. KeyCorp increased their price objective on shares of Rockwell Automation from $360.00 to $370.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays upped their price target on shares of Rockwell Automation from $350.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th. Finally, Loop Capital lifted their price target on shares of Rockwell Automation from $280.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $341.11.

Rockwell Automation Stock Up 1.5%

Rockwell Automation stock opened at $356.82 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.05 and a quick ratio of 0.72. Rockwell Automation has a 1-year low of $215.00 and a 1-year high of $357.64. The stock’s fifty day moving average is $323.60 and its two-hundred day moving average is $286.79. The stock has a market cap of $40.22 billion, a PE ratio of 44.94, a P/E/G ratio of 3.95 and a beta of 1.38.

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

Insider Activity at Rockwell Automation

In related news, SVP Matheus De A. G. Viera Bulho sold 526 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $325.35, for a total value of $171,134.10. Following the completion of the transaction, the senior vice president owned 983 shares in the company, valued at $319,819.05. The trade was a 34.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Matthew W. Fordenwalt sold 289 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $326.33, for a total transaction of $94,309.37. Following the completion of the transaction, the senior vice president directly owned 3,196 shares of the company’s stock, valued at $1,042,950.68. This trade represents a 8.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,757 shares of company stock valued at $3,138,220. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in Rockwell Automation by 8.5% in the first quarter. Fifth Third Bancorp now owns 5,424 shares of the industrial products company’s stock worth $1,401,000 after acquiring an additional 423 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Rockwell Automation by 39.1% in the fourth quarter. Teacher Retirement System of Texas now owns 1,063 shares of the industrial products company’s stock worth $304,000 after buying an additional 299 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Rockwell Automation by 0.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company’s stock worth $1,462,000 after buying an additional 43 shares during the last quarter. Brighton Jones LLC purchased a new position in Rockwell Automation during the fourth quarter valued at approximately $281,000. Finally, Schroder Investment Management Group lifted its holdings in Rockwell Automation by 14.9% during the fourth quarter. Schroder Investment Management Group now owns 14,478 shares of the industrial products company’s stock valued at $4,135,000 after purchasing an additional 1,872 shares in the last quarter. 75.75% of the stock is currently owned by hedge funds and other 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.