Rockwell Automation (NYSE:ROK) Given New $270.00 Price Target at Bank of America

Rockwell Automation (NYSE:ROK) had its target price cut by investment analysts at Bank of America from $300.00 to $270.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Bank of America‘s target price would indicate a potential upside of 4.59% from the stock’s current price.

Other analysts have also issued research reports about the company. Citigroup decreased their price target on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Redburn Atlantic initiated coverage on shares of Rockwell Automation in a research note on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price on the stock. Robert W. Baird dropped their target price on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday. Loop Capital reduced their price target on shares of Rockwell Automation from $300.00 to $290.00 and set a “hold” rating on the stock in a research report on Tuesday, May 14th. Finally, Oppenheimer decreased their price objective 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. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $282.07.

Rockwell Automation Stock Performance

ROK traded down $0.99 during midday trading on Thursday, reaching $258.15. The company’s stock had a trading volume of 625,371 shares, compared to its average volume of 966,854. Rockwell Automation has a twelve month low of $242.81 and a twelve month high of $317.74. The stock has a market cap of $29.43 billion, a P/E ratio of 25.23, a PEG ratio of 4.71 and a beta of 1.37. The company has a fifty day simple moving average of $265.32 and a 200 day simple moving average of $274.14. The company has a current ratio of 1.11, a quick ratio of 0.74 and a debt-to-equity ratio of 0.69.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.63. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the company earned $3.01 earnings per share. The firm’s revenue was down 8.4% on a year-over-year basis. Research analysts expect that Rockwell Automation will post 10.07 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Tessa M. Myers sold 528 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total value of $133,995.84. Following the completion of the sale, the senior vice president now directly owns 3,718 shares of the company’s stock, valued at approximately $943,554.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Rockwell Automation news, SVP Tessa M. Myers sold 528 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total transaction of $133,995.84. Following the transaction, the senior vice president now directly owns 3,718 shares in the company, valued at approximately $943,554.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Tessa M. Myers sold 248 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $256.37, for a total value of $63,579.76. Following the sale, the senior vice president now directly owns 4,246 shares of the company’s stock, valued at $1,088,547.02. The disclosure for this sale can be found here. Insiders sold 2,199 shares of company stock valued at $572,750 over the last 90 days. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Valeo Financial Advisors LLC increased its holdings in shares of Rockwell Automation by 1.9% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,915 shares of the industrial products company’s stock worth $595,000 after purchasing an additional 35 shares during the period. Bison Wealth LLC increased its stake in Rockwell Automation by 3.3% in the 4th quarter. Bison Wealth LLC now owns 1,168 shares of the industrial products company’s stock worth $363,000 after acquiring an additional 37 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Rockwell Automation by 3.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,115 shares of the industrial products company’s stock valued at $346,000 after acquiring an additional 37 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its position in shares of Rockwell Automation by 17.5% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 248 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 37 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in shares of Rockwell Automation by 3.0% during the first quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 37 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.