Rockwell Automation (NYSE:ROK) Given New $305.00 Price Target at Robert W. Baird

Rockwell Automation (NYSE:ROK) had its price objective boosted by equities researchers at Robert W. Baird from $290.00 to $305.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 3.41% from the stock’s previous close.

ROK has been the subject of a number of other reports. Bank of America raised their price target on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Barclays boosted their target price on shares of Rockwell Automation from $245.00 to $255.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. BNP Paribas assumed coverage on shares of Rockwell Automation in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 price target on the stock. Morgan Stanley boosted their price objective on shares of Rockwell Automation from $320.00 to $335.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, UBS Group assumed coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $287.13.

Rockwell Automation Trading Down 0.4 %

ROK stock opened at $294.95 on Tuesday. The firm has a fifty day moving average price of $273.42 and a 200 day moving average price of $267.67. Rockwell Automation has a fifty-two week low of $242.81 and a fifty-two week high of $312.76. The firm has a market cap of $33.30 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 3.11 and a beta of 1.36. 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 Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The firm’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.64 EPS. Sell-side analysts anticipate that Rockwell Automation will post 9.44 earnings per share for the current fiscal year.

Rockwell Automation announced that its board has authorized a share buyback program 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 reacquire up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Rockwell Automation

In related news, SVP Cyril Perducat sold 1,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the sale, the senior vice president now directly owns 3,630 shares of the company’s stock, valued at approximately $1,089,000. This represents a 21.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Blake D. Moret sold 26,700 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the sale, the chief executive officer now directly owns 78,115 shares in the company, valued at $23,327,482.45. This trade represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,746 shares of company stock worth $8,560,594 over the last 90 days. 0.68% of the stock is currently owned by company insiders.

Institutional Trading of Rockwell Automation

A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings 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 lifted its holdings in Rockwell Automation by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,683,202 shares of the industrial products company’s stock valued at $717,865,000 after purchasing an additional 14,040 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Rockwell Automation by 33.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,556,292 shares of the industrial products company’s stock valued at $417,802,000 after purchasing an additional 390,784 shares in the last quarter. Accredited Investors Inc. lifted its holdings in Rockwell Automation by 162,058.5% during 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Rockwell Automation by 6.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,128,811 shares of the industrial products company’s stock valued at $303,041,000 after purchasing an additional 67,684 shares in the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

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.