Wells Fargo & Company Lowers Rockwell Automation (NYSE:ROK) Price Target to $305.00

Rockwell Automation (NYSE:ROK) had its price target lowered by Wells Fargo & Company from $312.00 to $305.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 16.11% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $254.00 price objective on shares of Rockwell Automation in a research note on Thursday, March 21st. Mizuho decreased their price target on Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Robert W. Baird decreased their price target on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Redburn Atlantic assumed coverage on Rockwell Automation in a research note on Monday. They issued a “neutral” rating and a $256.00 price target for the company. Finally, Citigroup decreased their price target on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $301.07.

Rockwell Automation Stock Up 0.6 %

Shares of ROK traded up $1.44 on Wednesday, reaching $262.68. The stock had a trading volume of 111,673 shares, compared to its average volume of 987,275. The firm has a market capitalization of $29.95 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 4.38 and a beta of 1.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.11. The company has a 50-day simple moving average of $264.66 and a 200-day simple moving average of $279.47. Rockwell Automation has a 12-month low of $249.00 and a 12-month high of $348.52.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.01 earnings per share. Sell-side analysts predict that Rockwell Automation will post 10.15 EPS for the current year.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Tessa M. Myers sold 248 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $256.37, for a total transaction of $63,579.76. Following the completion of the sale, the senior vice president now owns 4,246 shares of the company’s stock, valued at $1,088,547.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Rockwell Automation news, SVP Tessa M. Myers sold 248 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $256.37, for a total transaction of $63,579.76. Following the completion of the sale, the senior vice president now owns 4,246 shares of the company’s stock, valued at $1,088,547.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John M. Miller sold 467 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $273.27, for a total value of $127,617.09. Following the completion of the transaction, the vice president now directly owns 4,800 shares of the company’s stock, valued at approximately $1,311,696. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,199 shares of company stock valued at $572,750. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Rockwell Automation

A number of hedge funds have recently made changes to their positions in ROK. Comerica Bank raised its position in Rockwell Automation by 1,240.6% during the third quarter. Comerica Bank now owns 59,172 shares of the industrial products company’s stock valued at $16,915,000 after purchasing an additional 54,758 shares during the period. Graham Capital Management L.P. bought a new position in shares of Rockwell Automation during the third quarter valued at approximately $1,200,000. Public Sector Pension Investment Board grew its stake in Rockwell Automation by 11.8% in the third quarter. Public Sector Pension Investment Board now owns 12,303 shares of the industrial products company’s stock worth $3,517,000 after purchasing an additional 1,303 shares in the last quarter. Polar Capital Holdings Plc grew its stake in Rockwell Automation by 12.7% in the third quarter. Polar Capital Holdings Plc now owns 28,859 shares of the industrial products company’s stock worth $8,250,000 after purchasing an additional 3,261 shares in the last quarter. Finally, Trust Co. of Vermont grew its stake in Rockwell Automation by 86.1% in the third quarter. Trust Co. of Vermont now owns 1,697 shares of the industrial products company’s stock worth $485,000 after purchasing an additional 785 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.