Rockwell Automation (NYSE:ROK) PT Raised to $305.00

Rockwell Automation (NYSE:ROK) had its price objective hoisted by investment analysts at Wells Fargo & Company from $293.00 to $305.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 14.59% from the company’s current price.

ROK has been the topic of several other research reports. Morgan Stanley initiated coverage on shares of Rockwell Automation in a research report on Friday, September 6th. They set an “overweight” rating and a $320.00 price target on the stock. TD Cowen cut their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Redburn Atlantic started coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 target price on the stock. Robert W. Baird cut 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 report on Thursday, August 8th. Finally, Bank of America cut their target price on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $283.60.

Rockwell Automation Stock Down 0.4 %

Shares of NYSE ROK opened at $266.16 on Monday. The firm’s 50-day simple moving average is $262.85 and its 200 day simple moving average is $268.40. The company has a market cap of $30.34 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 4.64 and a beta of 1.36. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. Rockwell Automation has a 12-month low of $242.81 and a 12-month high of $312.76.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.63. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.01 EPS. On average, research analysts expect that Rockwell Automation will post 9.67 earnings per share for the current fiscal year.

Rockwell Automation declared that its Board of Directors has approved a share buyback program on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hazlett Burt & Watson Inc. boosted its stake in shares of Rockwell Automation by 17.5% during the first quarter. Hazlett Burt & Watson Inc. now owns 248 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 37 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in shares of 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 acquiring an additional 37 shares during the period. Mather Group LLC. lifted its stake in shares of Rockwell Automation by 5.9% in the second quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 38 shares during the period. Pure Financial Advisors LLC lifted its stake in shares of Rockwell Automation by 2.7% in the second quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock worth $444,000 after acquiring an additional 42 shares during the period. Finally, Pitcairn Co. lifted its stake in shares of Rockwell Automation by 4.2% in the first quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company’s stock worth $319,000 after acquiring an additional 44 shares during the period. 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.