Oppenheimer Issues Positive Forecast for Rockwell Automation (NYSE:ROK) Stock Price

Rockwell Automation (NYSE:ROK) had its price target hoisted by research analysts at Oppenheimer from $300.00 to $320.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target would indicate a potential upside of 5.91% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Mizuho boosted their price target on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Citigroup boosted their target price on Rockwell Automation from $345.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday. Stephens raised Rockwell Automation from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $275.00 to $350.00 in a research report on Thursday, January 16th. Barclays cut their price objective on Rockwell Automation from $290.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Finally, Bank of America lifted their target price on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $307.68.

Rockwell Automation Price Performance

ROK stock opened at $302.14 on Tuesday. The company has a market capitalization of $34.15 billion, a P/E ratio of 36.49, a price-to-earnings-growth ratio of 2.89 and a beta of 1.35. Rockwell Automation has a 52-week low of $242.81 and a 52-week high of $308.70. The business has a 50-day simple moving average of $285.72 and a two-hundred day simple moving average of $275.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. Research analysts expect that Rockwell Automation will post 9.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Scott Genereux sold 278 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $302.04, for a total transaction of $83,967.12. Following the sale, the vice president now directly owns 3,184 shares in the company, valued at $961,695.36. This represents a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Isaac Woods sold 895 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $274.72, for a total transaction of $245,874.40. Following the completion of the transaction, the vice president now owns 1,198 shares of the company’s stock, valued at $329,114.56. This trade represents a 42.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,857 shares of company stock valued at $10,678,037. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State Street Corp grew its position in Rockwell Automation by 0.3% during the third quarter. State Street Corp now owns 4,648,137 shares of the industrial products company’s stock worth $1,247,839,000 after buying an additional 11,949 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Rockwell Automation by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,683,202 shares of the industrial products company’s stock valued at $717,865,000 after acquiring an additional 14,040 shares during the last quarter. Amundi grew its holdings in shares of Rockwell Automation by 26.2% during the fourth quarter. Amundi now owns 2,073,594 shares of the industrial products company’s stock worth $580,095,000 after purchasing an additional 430,498 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Rockwell Automation by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,036 shares of the industrial products company’s stock worth $448,701,000 after purchasing an additional 13,744 shares during the last quarter. Finally, Accredited Investors Inc. raised its stake in Rockwell Automation by 162,058.5% in the third quarter. Accredited Investors Inc. now owns 1,185,379 shares of the industrial products company’s stock valued at $318,227,000 after purchasing an additional 1,184,648 shares in the last quarter. 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.