Rockwell Automation, Inc. (NYSE:ROK) Receives $282.80 Average PT from Analysts

Rockwell Automation, Inc. (NYSE:ROK) has been given an average rating of “Hold” by the sixteen research firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $282.80.

ROK has been the subject of several recent research reports. Oppenheimer lowered their price target on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Robert W. Baird decreased their target price on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Redburn Atlantic assumed coverage on shares of Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 price target on the stock. Morgan Stanley assumed coverage on shares of Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th.

Rockwell Automation Stock Performance

ROK stock opened at $268.30 on Tuesday. The firm has a 50 day simple moving average of $265.67 and a 200 day simple moving average of $270.32. Rockwell Automation has a 52 week low of $242.81 and a 52 week high of $312.76. The stock has a market cap of $30.59 billion, a P/E ratio of 26.23, a P/E/G ratio of 4.57 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.63. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $3.01 EPS. The company’s revenue was down 8.4% compared to the same quarter last year. Research analysts anticipate that Rockwell Automation will post 9.67 earnings per share for the current fiscal year.

Rockwell Automation announced that its board has authorized a stock repurchase plan on Thursday, September 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Rockwell Automation

Several hedge funds and other institutional investors have recently modified their holdings of ROK. Hazlett Burt & Watson Inc. grew its position in Rockwell Automation by 17.5% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 248 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 37 shares during the last quarter. CreativeOne Wealth LLC increased its stake in Rockwell Automation by 3.0% during the first quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock valued at $372,000 after acquiring an additional 37 shares during the period. Mather Group LLC. lifted its position in shares of Rockwell Automation by 5.9% in the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 38 shares during the period. Lindbrook Capital LLC lifted its position in shares of Rockwell Automation by 5.9% in the 1st quarter. Lindbrook Capital LLC now owns 749 shares of the industrial products company’s stock worth $218,000 after acquiring an additional 42 shares during the period. Finally, Pure Financial Advisors LLC grew its holdings in shares of Rockwell Automation by 2.7% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock worth $444,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds 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.