Rockwell Automation (NYSE:ROK) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Rockwell Automation (NYSE:ROK) had its target price hoisted by research analysts at Robert W. Baird from $280.00 to $290.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price target indicates a potential upside of 4.66% from the stock’s current price.

ROK has been the topic of a number of other reports. Morgan Stanley initiated coverage on shares of Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 target price on the stock. Oppenheimer upped their price objective on Rockwell Automation from $270.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. 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. TD Cowen dropped their price target on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $282.64.

Rockwell Automation Stock Down 5.8 %

NYSE:ROK opened at $277.09 on Friday. The firm has a market capitalization of $31.44 billion, a price-to-earnings ratio of 31.49, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. Rockwell Automation has a twelve month low of $242.81 and a twelve month high of $312.76. The stock’s 50 day moving average price is $266.71 and its two-hundred day moving average price is $266.63.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.63. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.01 earnings per share. Equities research analysts expect that Rockwell Automation will post 9.65 earnings per share for the current fiscal year.

Rockwell Automation announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $266.86, for a total transaction of $154,511.94. Following the transaction, the senior vice president now owns 4,576 shares in the company, valued at $1,221,151.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rockwell Automation

Hedge funds have recently bought and sold shares of the company. Prospera Financial Services Inc boosted its position in shares of Rockwell Automation by 0.9% during the 3rd quarter. Prospera Financial Services Inc now owns 4,033 shares of the industrial products company’s stock worth $1,083,000 after acquiring an additional 37 shares in the last quarter. Strengthening Families & Communities LLC lifted its stake in Rockwell Automation by 9.3% during the third quarter. Strengthening Families & Communities LLC now owns 3,209 shares of the industrial products company’s stock worth $862,000 after purchasing an additional 274 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Rockwell Automation in the 3rd quarter valued at $537,000. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in shares of Rockwell Automation in the 3rd quarter valued at $6,497,000. Finally, Accredited Investors Inc. increased its stake in shares of Rockwell Automation by 16.7% in the 3rd quarter. Accredited Investors Inc. now owns 853 shares of the industrial products company’s stock valued at $229,000 after purchasing an additional 122 shares during 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.