Robert W. Baird Boosts Rockwell Automation (NYSE:ROK) Price Target to $305.00

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 report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price objective points to a potential upside of 4.00% from the company’s previous close.

Several other analysts also recently weighed in on the stock. Mizuho boosted their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. TD Cowen cut their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. UBS Group began coverage on Rockwell Automation in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 target price for the company. JPMorgan Chase & Co. dropped their price target on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Finally, Wells Fargo & Company raised their price objective on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $287.13.

Rockwell Automation Trading Down 1.8 %

NYSE:ROK traded down $5.43 during midday trading on Tuesday, hitting $293.27. The stock had a trading volume of 313,849 shares, compared to its average volume of 892,934. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average of $272.12 and a 200 day moving average of $267.32. The company has a market capitalization of $33.11 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 3.02 and a beta of 1.36. Rockwell Automation has a one year low of $242.81 and a one year high of $312.76.

Rockwell Automation (NYSE:ROK) last posted its 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 business had revenue of $2.04 billion for 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 company’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.64 EPS. As a group, sell-side analysts forecast that Rockwell Automation will post 9.46 EPS for the current year.

Rockwell Automation declared that its Board of Directors has approved a stock buyback 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 buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, VP John M. Miller sold 467 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $284.07, for a total transaction of $132,660.69. Following the sale, the vice president now owns 4,800 shares of the company’s stock, valued at approximately $1,363,536. This represents a 8.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Blake D. Moret sold 26,700 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were 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 directly owns 78,115 shares of the company’s stock, 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 quarter, insiders sold 28,746 shares of company stock valued at $8,560,594. Company insiders own 0.68% of the company’s stock.

Institutional Trading of Rockwell Automation

Several hedge funds have recently modified their holdings of the stock. Pathway Financial Advisers LLC acquired a new position in Rockwell Automation during the 1st quarter worth approximately $26,000. Richardson Financial Services Inc. lifted its position in shares of Rockwell Automation by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 48 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Rockwell Automation during the 3rd quarter worth $26,000. Darwin Wealth Management LLC acquired a new position in shares of Rockwell Automation during the third quarter worth $34,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Rockwell Automation in the 2nd quarter valued at about $36,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.