Rockwell Automation (NYSE:ROK) Price Target Cut to $215.00

Rockwell Automation (NYSE:ROK) had its price objective decreased by research analysts at TD Cowen from $220.00 to $215.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “sell” rating on the industrial products company’s stock. TD Cowen’s price target would indicate a potential downside of 16.72% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. Barclays lowered their price objective on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Loop Capital decreased their target price on shares of Rockwell Automation from $300.00 to $290.00 and set a “hold” rating on the stock in a research note on Tuesday, May 14th. Oppenheimer decreased their target price on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday. Mizuho decreased their target price on shares of Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Finally, Robert W. Baird decreased their target price on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $282.07.

Rockwell Automation Price Performance

Rockwell Automation stock traded down $0.99 during mid-day trading on Thursday, hitting $258.15. 625,371 shares of the company traded hands, compared to its average volume of 966,854. Rockwell Automation has a one year low of $242.81 and a one year high of $317.74. The stock has a market cap of $29.43 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 4.71 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 stock has a fifty day moving average price of $265.32 and a 200-day moving average price of $274.14.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.63. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. Rockwell Automation’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.01 earnings per share. On average, equities analysts predict that Rockwell Automation will post 10.07 earnings per share for the current fiscal year.

Insider Transactions at Rockwell Automation

In other news, SVP Tessa M. Myers sold 528 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $253.78, for a total value of $133,995.84. Following the sale, the senior vice president now directly owns 3,718 shares of the company’s stock, valued at approximately $943,554.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Cyril Perducat sold 659 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $260.11, for a total value of $171,412.49. Following the transaction, the senior vice president now owns 4,630 shares in the company, valued at approximately $1,204,309.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Tessa M. Myers sold 528 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total transaction of $133,995.84. Following the completion of the transaction, the senior vice president now owns 3,718 shares in the company, valued at approximately $943,554.04. The disclosure for this sale can be found here. Insiders have sold 2,199 shares of company stock valued at $572,750 in the last three months. 0.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rockwell Automation

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Strategic Blueprint LLC purchased a new stake in Rockwell Automation during the 4th quarter valued at approximately $214,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Rockwell Automation during the 4th quarter valued at approximately $141,000. Tobam grew its holdings in Rockwell Automation by 27.4% during the 4th quarter. Tobam now owns 1,022 shares of the industrial products company’s stock valued at $317,000 after buying an additional 220 shares in the last quarter. Sandy Spring Bank grew its holdings in Rockwell Automation by 5.0% during the 4th quarter. Sandy Spring Bank now owns 12,694 shares of the industrial products company’s stock valued at $3,941,000 after buying an additional 610 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in Rockwell Automation by 17.8% during the 4th quarter. Cerity Partners LLC now owns 19,988 shares of the industrial products company’s stock valued at $6,206,000 after buying an additional 3,027 shares in the last quarter. 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.