Rockwell Automation (NYSE:ROK) Price Target Lowered to $312.00 at Wells Fargo & Company

Rockwell Automation (NYSE:ROK) had its target price lowered by stock analysts at Wells Fargo & Company from $320.00 to $312.00 in a note issued to investors on Wednesday, 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 16.10% from the stock’s current price.

Other analysts have also issued reports about the stock. Barclays lowered their price target on shares of Rockwell Automation from $269.00 to $265.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 2nd. Mizuho cut their price objective on shares of Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $254.00 target price on shares of Rockwell Automation in a report on Thursday, March 21st. Robert W. Baird decreased their price objective on shares of Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Berenberg Bank reiterated a “hold” rating and set a $290.00 target price (down from $330.00) on shares of Rockwell Automation in a report on Wednesday, March 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Rockwell Automation currently has a consensus rating of “Hold” and an average target price of $308.71.

Rockwell Automation Stock Down 1.2 %

ROK stock traded down $3.31 during midday trading on Wednesday, reaching $268.73. 581,071 shares of the company were exchanged, compared to its average volume of 1,014,466. Rockwell Automation has a 1-year low of $252.11 and a 1-year high of $348.52. The company has a market cap of $30.79 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 2.77 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.25. The stock’s 50-day simple moving average is $281.90 and its 200 day simple moving average is $283.11.

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

Insider Activity at Rockwell Automation

In other Rockwell Automation news, CFO Nicholas C. Gangestad sold 1,989 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $288.17, for a total transaction of $573,170.13. Following the sale, the chief financial officer now owns 12,217 shares of the company’s stock, valued at $3,520,572.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Blake D. Moret acquired 3,500 shares of Rockwell Automation stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of $283.64 per share, with a total value of $992,740.00. Following the transaction, the chief executive officer now owns 77,215 shares of the company’s stock, valued at approximately $21,901,262.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Nicholas C. Gangestad sold 1,989 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $288.17, for a total transaction of $573,170.13. Following the sale, the chief financial officer now owns 12,217 shares of the company’s stock, valued at approximately $3,520,572.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,240 shares of company stock worth $4,891,324. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its position in Rockwell Automation by 11.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 36,383 shares of the industrial products company’s stock valued at $10,401,000 after buying an additional 3,846 shares during the period. Brighton Jones LLC bought a new stake in Rockwell Automation in the third quarter valued at $213,000. IFM Investors Pty Ltd increased its position in Rockwell Automation by 5.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 22,552 shares of the industrial products company’s stock valued at $6,447,000 after purchasing an additional 1,138 shares during the period. Park Avenue Securities LLC purchased a new stake in shares of Rockwell Automation in the 3rd quarter worth about $493,000. Finally, CENTRAL TRUST Co boosted its stake in shares of Rockwell Automation by 74.0% during the 3rd quarter. CENTRAL TRUST Co now owns 1,413 shares of the industrial products company’s stock valued at $404,000 after purchasing an additional 601 shares in the last quarter. 75.75% of the stock is 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.