Rockwell Automation (NYSE:ROK) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Rockwell Automation (NYSE:ROK) had its price target boosted by investment analysts at Wells Fargo & Company from $315.00 to $337.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 11.59% from the stock’s current price.

ROK has been the subject of a number of other reports. Mizuho boosted their target price on Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Stephens raised shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $275.00 to $350.00 in a research note on Thursday, January 16th. JPMorgan Chase & Co. dropped their price target on shares of Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 15th. Morgan Stanley boosted their price objective on Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, KeyCorp raised Rockwell Automation from a “sector weight” rating to an “overweight” rating and set a $345.00 target price on the stock in a research report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $308.05.

Rockwell Automation Stock Performance

NYSE ROK opened at $302.01 on Tuesday. The stock has a fifty day simple moving average of $286.07 and a 200 day simple moving average of $275.47. Rockwell Automation has a twelve month low of $242.81 and a twelve month high of $308.70. The company has a market capitalization of $34.14 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 2.89 and a beta of 1.35. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70.

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

Insider Transactions at Rockwell Automation

In other news, VP Scott Genereux sold 279 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $296.13, for a total value of $82,620.27. Following the completion of the sale, the vice president now owns 2,891 shares of the company’s stock, valued at approximately $856,111.83. This represents a 8.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Blake D. Moret sold 26,700 shares of Rockwell Automation 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 completion of the transaction, the chief executive officer now owns 78,115 shares in the company, valued at approximately $23,327,482.45. The trade was a 25.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,857 shares of company stock valued at $10,678,037. Insiders own 0.68% of the company’s stock.

Institutional Trading of Rockwell Automation

A number of institutional investors have recently made changes to their positions in ROK. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Rockwell Automation by 0.9% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,775 shares of the industrial products company’s stock valued at $1,079,000 after buying an additional 33 shares during the period. Whittier Trust Co. raised its position in shares of Rockwell Automation by 1.9% in the 4th quarter. Whittier Trust Co. now owns 1,896 shares of the industrial products company’s stock worth $542,000 after acquiring an additional 35 shares in the last quarter. Prospera Financial Services Inc grew its stake in Rockwell Automation by 0.9% in the third quarter. Prospera Financial Services Inc now owns 4,033 shares of the industrial products company’s stock worth $1,083,000 after purchasing an additional 37 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of Rockwell Automation by 0.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company’s stock worth $1,199,000 after buying an additional 38 shares during the period. Finally, Lake Street Advisors Group LLC lifted its position in Rockwell Automation by 3.0% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,351 shares of the industrial products company’s stock valued at $386,000 after acquiring an additional 39 shares during the period. Hedge funds and other institutional investors 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.