Rockwell Automation (NYSE:ROK) Given New $316.00 Price Target at Citigroup

Rockwell Automation (NYSE:ROK) had its price target reduced by equities research analysts at Citigroup from $322.00 to $316.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target points to a potential upside of 16.82% from the company’s current price.

A number of other research analysts also recently commented on ROK. Wells Fargo & Company dropped their price objective on Rockwell Automation from $320.00 to $312.00 and set an “overweight” rating on the stock in a report on Wednesday. Robert W. Baird dropped their price objective on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating on the stock in a 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 note on Thursday, March 21st. Barclays dropped their price target on Rockwell Automation from $265.00 to $260.00 and set an “underweight” rating on the stock in a research note on Wednesday. Finally, Berenberg Bank restated a “hold” rating and set a $290.00 price target (down previously from $330.00) on shares of Rockwell Automation in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Rockwell Automation presently has an average rating of “Hold” and an average price target of $307.93.

Rockwell Automation Price Performance

ROK opened at $270.50 on Wednesday. The stock’s 50-day moving average price is $281.65 and its 200 day moving average price is $283.04. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. Rockwell Automation has a 12-month low of $252.11 and a 12-month high of $348.52. The firm has a market cap of $31.00 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.77 and a beta of 1.43.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.35. Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the business earned $3.01 EPS. Rockwell Automation’s revenue was down 6.6% on a year-over-year basis. As a group, sell-side analysts expect that Rockwell Automation will post 11.98 earnings per share for the current year.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, VP Scott Genereux sold 500 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $280.52, for a total transaction of $140,260.00. Following the sale, the vice president now directly owns 4,383 shares in the company, valued at $1,229,519.16. The transaction 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 the business’s stock in a transaction on 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 directly owns 4,383 shares of the company’s stock, valued at $1,229,519.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Rebecca W. House sold 13,900 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $283.02, for a total value of $3,933,978.00. Following the completion of the transaction, the senior vice president now directly owns 8,482 shares of the company’s stock, valued at $2,400,575.64. The disclosure for this sale can be found here. Insiders have sold a total of 17,240 shares of company stock worth $4,891,324 over the last three months. 0.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rockwell Automation

Several institutional investors have recently added to or reduced their stakes in the business. Nwam LLC grew its holdings in Rockwell Automation by 29.9% in the first quarter. Nwam LLC now owns 1,122 shares of the industrial products company’s stock valued at $314,000 after purchasing an additional 258 shares during the period. Dorsey & Whitney Trust CO LLC raised its holdings in Rockwell Automation by 30.5% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 21,013 shares of the industrial products company’s stock valued at $6,122,000 after buying an additional 4,907 shares during the period. Orion Portfolio Solutions LLC lifted its position in Rockwell Automation by 4.0% during the first quarter. Orion Portfolio Solutions LLC now owns 9,710 shares of the industrial products company’s stock valued at $2,829,000 after buying an additional 377 shares in the last quarter. Blair William & Co. IL grew its stake in Rockwell Automation by 2.7% during the first quarter. Blair William & Co. IL now owns 405,107 shares of the industrial products company’s stock worth $118,020,000 after buying an additional 10,799 shares during the period. Finally, HBK Sorce Advisory LLC increased its position in shares of Rockwell Automation by 107.3% in the first quarter. HBK Sorce Advisory LLC now owns 4,290 shares of the industrial products company’s stock worth $1,250,000 after acquiring an additional 2,221 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.