Rockwell Automation (NYSE:ROK) Stock Price Expected to Rise, Citigroup Analyst Says

Rockwell Automation (NYSE:ROK) had its price target lifted by investment analysts at Citigroup from $345.00 to $350.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective indicates a potential upside of 15.84% from the company’s previous close.

Other analysts have also issued research reports about the company. Morgan Stanley upped their target price on Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Oppenheimer upped their price objective on Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Robert W. Baird increased their price objective on Rockwell Automation from $290.00 to $305.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Barclays dropped their price target on shares of Rockwell Automation from $290.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Rockwell Automation currently has an average rating of “Hold” and an average target price of $306.11.

Rockwell Automation Price Performance

Shares of ROK opened at $302.14 on Tuesday. 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 has a twelve month low of $242.81 and a twelve month high of $308.70. The stock has a market capitalization of $34.15 billion, a P/E ratio of 36.49, a P/E/G ratio of 2.89 and a beta of 1.35. The company has a 50 day moving average of $285.72 and a 200-day moving average of $275.06.

Rockwell Automation (NYSE:ROK) last released its earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. As a group, equities research analysts forecast that Rockwell Automation will post 9.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Isaac Woods sold 895 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $274.72, for a total transaction of $245,874.40. Following the completion of the sale, the vice president now owns 1,198 shares of the company’s stock, valued at approximately $329,114.56. This represents a 42.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Scott Genereux sold 278 shares of Rockwell Automation stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $302.04, for a total transaction of $83,967.12. Following the completion of the transaction, the vice president now directly owns 3,184 shares in the company, valued at $961,695.36. This trade represents a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,857 shares of company stock valued at $10,678,037. 0.68% of the stock is owned by company insiders.

Institutional Trading of Rockwell Automation

Large investors have recently bought and sold shares of the business. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Rockwell Automation by 238.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 864 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 609 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in Rockwell Automation in the third quarter valued at approximately $214,000. Fiduciary Alliance LLC bought a new stake in shares of Rockwell Automation during the third quarter worth $234,000. Creative Planning increased its holdings in shares of Rockwell Automation by 3.2% during the third quarter. Creative Planning now owns 25,927 shares of the industrial products company’s stock worth $6,960,000 after buying an additional 807 shares in the last quarter. Finally, Cabot Wealth Management Inc. increased its holdings in Rockwell Automation by 1.2% in the 3rd quarter. Cabot Wealth Management Inc. now owns 45,809 shares of the industrial products company’s stock worth $12,298,000 after purchasing an additional 555 shares in the last quarter. 75.75% of the stock is 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.