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

Rockwell Automation (NYSE:ROK) had its price target decreased by Robert W. Baird from $310.00 to $304.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently 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 current price.

Several other brokerages also recently weighed in on ROK. Wells Fargo & Company lowered their target price on shares of Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Berenberg Bank reaffirmed a “hold” rating and set a $290.00 target price (down from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. Citigroup lowered their price target on Rockwell Automation from $330.00 to $322.00 and set a “buy” rating for the company in a report on Monday, April 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $254.00 price objective on shares of Rockwell Automation in a research report on Thursday, March 21st. Finally, Mizuho dropped their target price on shares of Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating on the stock in a research report on Wednesday. Two research 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.com, the company has a consensus rating of “Hold” and a consensus price target of $309.29.

Rockwell Automation Stock Performance

Shares of Rockwell Automation stock opened at $272.04 on Wednesday. Rockwell Automation has a 12 month low of $252.11 and a 12 month high of $348.52. The stock’s fifty day moving average price is $281.90 and its 200-day moving average price is $283.11. The firm has a market cap of $31.17 billion, a P/E ratio of 25.88, a P/E/G ratio of 2.77 and a beta of 1.43. 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 (NYSE:ROK) last posted its earnings results on Tuesday, May 7th. The industrial products company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the business earned $3.01 earnings per share. Rockwell Automation’s revenue was down 6.6% on a year-over-year basis. On average, equities research analysts expect that Rockwell Automation will post 11.98 earnings per share for the current fiscal year.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, VP Scott Genereux sold 500 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $290.00, for a total value of $145,000.00. Following the transaction, the vice president now owns 2,383 shares in the company, valued at approximately $691,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Rockwell Automation news, VP Scott Genereux sold 500 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $290.00, for a total value of $145,000.00. Following the transaction, the vice president now owns 2,383 shares of the company’s stock, valued at $691,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Blake D. Moret purchased 3,500 shares of the stock in a transaction dated Monday, February 12th. The shares were purchased at an average price of $283.64 per share, with a total value of $992,740.00. Following the completion of the transaction, the chief executive officer now owns 77,215 shares of the company’s stock, valued at $21,901,262.60. The disclosure for this purchase can be found here. Insiders have sold a total of 17,240 shares of company stock valued at $4,891,324 in the last ninety days. 0.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rockwell Automation

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bruce G. Allen Investments LLC purchased a new position in shares of Rockwell Automation during the fourth quarter worth about $27,000. OFI Invest Asset Management acquired a new position in Rockwell Automation during the third quarter worth $26,000. Provence Wealth Management Group acquired a new position in Rockwell Automation during the third quarter worth about $27,000. Riverview Trust Co purchased a new stake in shares of Rockwell Automation in the first quarter valued at $28,000. Finally, Bfsg LLC acquired a new stake in Rockwell Automation during the first quarter worth approximately $29,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.