Rockwell Automation (NYSE:ROK) Given New $285.00 Price Target at Barclays

Rockwell Automation (NYSE:ROK) had its price objective dropped by equities researchers at Barclays from $290.00 to $285.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s target price suggests a potential upside of 1.19% from the company’s current price.

Other analysts have also recently issued research reports about the stock. KeyCorp raised shares of Rockwell Automation from a “sector weight” rating to an “overweight” rating and set a $345.00 price objective on the stock in a research note on Monday, December 9th. Robert W. Baird boosted their price target on shares of Rockwell Automation from $290.00 to $305.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. HSBC raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 target price for the company in a research note on Wednesday, December 11th. Oppenheimer lifted their price objective on shares of Rockwell Automation from $288.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and increased their target price for the stock from $290.00 to $350.00 in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $300.89.

Rockwell Automation Price Performance

Shares of ROK opened at $281.64 on Wednesday. The business has a 50-day simple moving average of $286.88 and a two-hundred day simple moving average of $273.74. Rockwell Automation has a 12-month low of $242.81 and a 12-month high of $307.71. The stock has a market cap of $31.83 billion, a PE ratio of 34.01, a PEG ratio of 3.12 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the business earned $3.64 EPS. The firm’s quarterly revenue was down 20.6% on a year-over-year basis. Analysts anticipate that Rockwell Automation will post 9.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director James P. Keane sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $296.00, for a total transaction of $592,000.00. Following the completion of the sale, the director now directly owns 11,518 shares of the company’s stock, valued at approximately $3,409,328. This trade represents a 14.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Blake D. Moret sold 1,121 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $302.01, for a total value of $338,553.21. Following the completion of the transaction, the chief executive officer now directly owns 81,754 shares in the company, valued at approximately $24,690,525.54. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,541 shares of company stock worth $10,586,674. 0.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Rockwell Automation

A number of hedge funds have recently made changes to their positions in ROK. Ashton Thomas Securities LLC purchased a new stake in Rockwell Automation during the third quarter worth about $26,000. Richardson Financial Services Inc. increased its stake in shares of Rockwell Automation by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Rockwell Automation in the 3rd quarter worth approximately $34,000. Strategic Investment Solutions Inc. IL purchased a new position in Rockwell Automation in the second quarter valued at approximately $36,000. Finally, DiNuzzo Private Wealth Inc. grew its holdings in Rockwell Automation by 1,707.7% during the third quarter. DiNuzzo Private Wealth Inc. now owns 235 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 222 shares during the period. 75.75% of the stock is currently owned by 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.