Rockwell Automation (NYSE:ROK) Price Target Cut to $270.00

Rockwell Automation (NYSE:ROK) had its price objective dropped by equities researchers at Oppenheimer from $295.00 to $270.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target points to a potential upside of 4.59% from the company’s previous close.

A number of other brokerages have also recently issued reports on ROK. Citigroup lowered their target price on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Mizuho cut 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 report on Wednesday, May 8th. Wells Fargo & Company decreased their price target on shares of Rockwell Automation from $312.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Robert W. Baird cut their price target on shares of Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Finally, Barclays decreased their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $282.07.

Rockwell Automation Price Performance

Shares of ROK traded down $0.99 during mid-day trading on Thursday, reaching $258.15. The company had a trading volume of 625,371 shares, compared to its average volume of 966,854. The company’s 50 day simple moving average is $265.32 and its 200 day simple moving average is $274.14. The company has a market capitalization of $29.43 billion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 4.71 and a beta of 1.37. Rockwell Automation has a 1-year low of $242.81 and a 1-year high of $317.74. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.11.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.63. The firm had revenue of $2.05 billion for 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%. The company’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the business posted $3.01 earnings per share. Analysts expect that Rockwell Automation will post 10.07 EPS for the current year.

Insider Transactions at Rockwell Automation

In related news, VP John M. Miller sold 467 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $273.27, for a total transaction of $127,617.09. Following the transaction, the vice president now directly owns 4,800 shares of the company’s stock, valued at approximately $1,311,696. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Tessa M. Myers sold 248 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $256.37, for a total value of $63,579.76. Following the transaction, the senior vice president now owns 4,246 shares of the company’s stock, valued at approximately $1,088,547.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $273.27, for a total value of $127,617.09. Following the transaction, the vice president now owns 4,800 shares of the company’s stock, valued at approximately $1,311,696. 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 90 days. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Valeo Financial Advisors LLC increased its stake in Rockwell Automation by 1.9% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,915 shares of the industrial products company’s stock valued at $595,000 after buying an additional 35 shares during the last quarter. Bison Wealth LLC increased its position in shares of Rockwell Automation by 3.3% during the fourth quarter. Bison Wealth LLC now owns 1,168 shares of the industrial products company’s stock valued at $363,000 after acquiring an additional 37 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Rockwell Automation by 3.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,115 shares of the industrial products company’s stock worth $346,000 after acquiring an additional 37 shares during the period. Hazlett Burt & Watson Inc. boosted its position in Rockwell Automation by 17.5% in the first quarter. Hazlett Burt & Watson Inc. now owns 248 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 37 shares during the last quarter. Finally, CreativeOne Wealth LLC boosted its position in Rockwell Automation by 3.0% in 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 during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

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.