Rockwell Automation (NYSE:ROK – Get Free Report)‘s stock had its “overweight” rating restated by research analysts at KeyCorp in a research note issued on Friday, MarketBeat reports. They currently have a $360.00 target price on the industrial products company’s stock, up from their prior target price of $345.00. KeyCorp’s price objective indicates a potential upside of 10.69% from the stock’s current price.
Several other brokerages have also weighed in on ROK. JPMorgan Chase & Co. lifted their price objective on Rockwell Automation from $271.00 to $299.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Barclays upgraded shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $283.00 to $350.00 in a research note on Friday, May 30th. Loop Capital upped their price target on shares of Rockwell Automation from $280.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, May 15th. TD Cowen upgraded shares of Rockwell Automation from a “sell” rating to a “hold” rating and set a $275.00 price objective for the company in a research note on Friday, May 9th. Finally, BNP Paribas upgraded Rockwell Automation from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $317.79.
Read Our Latest Stock Analysis on ROK
Rockwell Automation Trading Up 2.3%
Rockwell Automation (NYSE:ROK – Get Free Report) last released its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.36. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. Rockwell Automation’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.50 earnings per share. On average, sell-side analysts anticipate that Rockwell Automation will post 9.35 EPS for the current year.
Insiders Place Their Bets
In related news, SVP Matheus De A. G. Viera Bulho sold 526 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $325.35, for a total transaction of $171,134.10. Following the completion of the sale, the senior vice president now directly owns 983 shares in the company, valued at approximately $319,819.05. The trade was a 34.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Matthew W. Fordenwalt sold 289 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $326.33, for a total transaction of $94,309.37. Following the sale, the senior vice president now directly owns 3,196 shares of the company’s stock, valued at approximately $1,042,950.68. The trade was a 8.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,681 shares of company stock valued at $2,382,987. Corporate insiders own 0.68% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Teacher Retirement System of Texas lifted its position in shares of Rockwell Automation by 39.1% in the fourth quarter. Teacher Retirement System of Texas now owns 1,063 shares of the industrial products company’s stock valued at $304,000 after acquiring an additional 299 shares in the last quarter. Brighton Jones LLC purchased a new position in Rockwell Automation in the 4th quarter worth approximately $281,000. Schroder Investment Management Group boosted its stake in Rockwell Automation by 14.9% in the 4th quarter. Schroder Investment Management Group now owns 14,478 shares of the industrial products company’s stock worth $4,135,000 after purchasing an additional 1,872 shares during the period. Fifth Third Bancorp grew its holdings in Rockwell Automation by 8.5% during the 1st quarter. Fifth Third Bancorp now owns 5,424 shares of the industrial products company’s stock valued at $1,401,000 after buying an additional 423 shares in the last quarter. Finally, Savant Capital LLC raised its position in shares of Rockwell Automation by 119.7% during the fourth quarter. Savant Capital LLC now owns 6,631 shares of the industrial products company’s stock valued at $1,895,000 after buying an additional 3,613 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.
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.
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