Rockwell Automation (NYSE:ROK) Price Target Cut to $304.00 by Analysts at Robert W. Baird

Rockwell Automation (NYSE:ROK) had its price target dropped by research analysts at Robert W. Baird from $310.00 to $304.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s target price suggests a potential upside of 11.75% from the stock’s previous close.

Several other analysts also recently commented on ROK. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $254.00 price objective on shares of Rockwell Automation in a research note on Thursday, March 21st. Citigroup dropped their price target on shares of Rockwell Automation from $330.00 to $322.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Barclays lowered their price target on Rockwell Automation from $269.00 to $265.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 2nd. Berenberg Bank reaffirmed a “hold” rating and issued a $290.00 price objective (down from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. Finally, Wells Fargo & Company decreased their target price on Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation currently has an average rating of “Hold” and an average price target of $309.29.

Rockwell Automation Price Performance

Rockwell Automation stock opened at $272.04 on Wednesday. The stock has a market cap of $31.17 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 2.77 and a beta of 1.43. Rockwell Automation has a 12-month low of $252.11 and a 12-month high of $348.52. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 0.76. The business’s 50-day simple moving average is $281.90 and its 200 day simple moving average is $283.11.

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

Insider Activity at Rockwell Automation

In other Rockwell Automation news, SVP Rebecca W. House sold 13,900 shares of the company’s stock in a transaction dated 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 owns 8,482 shares of the company’s stock, valued at approximately $2,400,575.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Rockwell Automation news, SVP Rebecca W. House sold 13,900 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $283.02, for a total transaction of $3,933,978.00. Following the completion of the sale, the senior vice president now owns 8,482 shares of the company’s stock, valued at approximately $2,400,575.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Isaac Woods sold 150 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $287.59, for a total transaction of $43,138.50. Following the completion of the sale, the vice president now directly owns 1,199 shares in the company, valued at $344,820.41. The disclosure for this sale can be found here. Insiders have sold a total of 17,240 shares of company stock valued at $4,891,324 in the last 90 days. 0.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rockwell Automation

Hedge funds and other institutional investors have recently modified their holdings of the company. Value Star Asset Management Hong Kong Ltd bought a new position in Rockwell Automation in the 1st quarter valued at about $7,050,000. Addison Capital Co lifted its holdings in shares of Rockwell Automation by 21.6% in the first quarter. Addison Capital Co now owns 2,261 shares of the industrial products company’s stock valued at $659,000 after purchasing an additional 402 shares in the last quarter. Isthmus Partners LLC boosted its position in shares of Rockwell Automation by 1.7% during the first quarter. Isthmus Partners LLC now owns 39,798 shares of the industrial products company’s stock valued at $11,594,000 after buying an additional 676 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Rockwell Automation by 18.8% during the first quarter. Russell Investments Group Ltd. now owns 49,947 shares of the industrial products company’s stock worth $14,550,000 after buying an additional 7,919 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in Rockwell Automation in the 1st quarter valued at $978,000. 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.