Rockwell Automation (NYSE:ROK) Price Target Cut to $312.00

Rockwell Automation (NYSE:ROK) had its price target lowered by analysts at Wells Fargo & Company from $320.00 to $312.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 16.10% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Barclays reduced their target price on Rockwell Automation from $269.00 to $265.00 and set an “underweight” rating for the company in a research note on Tuesday, April 2nd. Oppenheimer decreased their price objective on shares of Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, February 1st. Mizuho dropped 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. JPMorgan Chase & Co. restated an “underweight” rating and set a $254.00 price target on shares of Rockwell Automation in a research report on Thursday, March 21st. Finally, Robert W. Baird decreased their target price on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation presently has a consensus rating of “Hold” and an average target price of $308.71.

Rockwell Automation Stock Performance

Shares of NYSE:ROK traded down $3.31 during trading on Wednesday, hitting $268.73. 581,071 shares of the stock traded hands, compared to its average volume of 1,014,466. The company has a fifty day moving average price of $281.90 and a two-hundred day moving average price of $283.11. Rockwell Automation has a 52-week low of $252.11 and a 52-week high of $348.52. The company has a market cap of $30.79 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 2.77 and a beta of 1.43. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 0.76.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.35. Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the firm posted $3.01 earnings per share. The company’s revenue was down 6.6% compared to the same quarter last year. As a group, equities analysts predict that Rockwell Automation will post 11.98 EPS for the current year.

Insider Transactions at Rockwell Automation

In related news, CEO Blake D. Moret acquired 3,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were purchased at an average cost of $283.64 per share, for a total transaction of $992,740.00. Following the acquisition, the chief executive officer now owns 77,215 shares in the company, valued at approximately $21,901,262.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Scott Genereux sold 500 shares of Rockwell Automation stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $280.52, for a total value of $140,260.00. Following the completion of the transaction, the vice president now owns 4,383 shares in the company, valued at approximately $1,229,519.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Blake D. Moret bought 3,500 shares of Rockwell Automation stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $283.64 per share, for a total transaction of $992,740.00. Following the acquisition, the chief executive officer now owns 77,215 shares of the company’s stock, valued at $21,901,262.60. The disclosure for this purchase can be found here. Insiders sold 17,240 shares of company stock worth $4,891,324 in the last 90 days. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Rockwell Automation

Institutional investors have recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Rockwell Automation in the 3rd quarter valued at about $26,000. Provence Wealth Management Group acquired a new stake in shares of Rockwell Automation in the third quarter valued at approximately $27,000. Bruce G. Allen Investments LLC acquired a new position in shares of Rockwell Automation in the 4th quarter valued at $27,000. Riverview Trust Co purchased a new stake in Rockwell Automation in the 1st quarter valued at $28,000. Finally, Bfsg LLC purchased a new stake in shares of Rockwell Automation in the first quarter valued at about $29,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

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.