Rockwell Automation (NYSE:ROK) PT Raised to $288.00

Rockwell Automation (NYSE:ROK) had its price objective upped by investment analysts at Oppenheimer from $270.00 to $288.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target would suggest a potential upside of 5.76% from the stock’s current price.

Several other analysts also recently commented on ROK. TD Cowen lowered their price objective on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered their price objective on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Robert W. Baird lowered their price target on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Barclays cut their target price on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Finally, Redburn Atlantic assumed coverage on Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $284.80.

Rockwell Automation Stock Performance

NYSE:ROK opened at $272.31 on Monday. The stock has a market cap of $31.04 billion, a P/E ratio of 26.62, a PEG ratio of 4.64 and a beta of 1.36. The stock has a 50 day simple moving average of $263.89 and a 200 day simple moving average of $267.67. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. Rockwell Automation has a 1-year low of $242.81 and a 1-year high of $312.76.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data 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. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the company posted $3.01 EPS. Rockwell Automation’s quarterly 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 year.

Rockwell Automation declared that its board has initiated a stock repurchase plan on Thursday, September 5th that allows the company to repurchase $1.00 billion in outstanding 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 generally a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Rockwell Automation

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cabot Wealth Management Inc. lifted its holdings in shares of Rockwell Automation by 1.2% during the 3rd quarter. Cabot Wealth Management Inc. now owns 45,809 shares of the industrial products company’s stock valued at $12,298,000 after buying an additional 555 shares during the period. Creative Planning lifted its holdings in shares of Rockwell Automation by 3.2% during the 3rd quarter. Creative Planning now owns 25,927 shares of the industrial products company’s stock valued at $6,960,000 after buying an additional 807 shares during the period. Fiduciary Alliance LLC bought a new position in shares of Rockwell Automation during the 3rd quarter valued at $234,000. InTrack Investment Management Inc increased its stake in shares of Rockwell Automation by 23.3% in the 3rd quarter. InTrack Investment Management Inc now owns 2,663 shares of the industrial products company’s stock worth $715,000 after purchasing an additional 504 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new stake in shares of Rockwell Automation in the 3rd quarter worth $214,000. 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.