KeyCorp Boosts Rockwell Automation (NYSE:ROK) Price Target to $360.00

Rockwell Automation (NYSE:ROK) had its price target lifted by equities researchers at KeyCorp from $345.00 to $360.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price objective would indicate a potential upside of 11.96% from the company’s previous close.

ROK has been the topic of several other research reports. Citigroup boosted their price objective on shares of Rockwell Automation from $327.00 to $371.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. TD Cowen upgraded shares of Rockwell Automation from a “sell” rating to a “hold” rating and set a $275.00 price target on the stock in a research report on Friday, May 9th. Loop Capital raised their price objective on shares of Rockwell Automation from $280.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, May 15th. Barclays upgraded shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $283.00 to $350.00 in a report on Friday, May 30th. Finally, Wells Fargo & Company boosted their target price on Rockwell Automation from $265.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $317.79.

Rockwell Automation Stock Down 1.1%

NYSE:ROK traded down $3.59 on Friday, reaching $321.55. The stock had a trading volume of 139,260 shares, compared to its average volume of 880,446. The stock has a market cap of $36.24 billion, a P/E ratio of 40.01, a price-to-earnings-growth ratio of 3.53 and a beta of 1.38. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. Rockwell Automation has a 12-month low of $215.00 and a 12-month high of $328.90. The company has a 50-day moving average of $277.47 and a 200 day moving average of $279.73.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.36. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.50 EPS. On average, research analysts predict that Rockwell Automation will post 9.35 earnings per share for the current year.

Insider Transactions at Rockwell Automation

In related news, SVP Matheus De A. G. Viera Bulho sold 526 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total value of $171,134.10. Following the sale, the senior vice president now directly owns 983 shares of the company’s stock, valued at $319,819.05. This trade represents a 34.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Matthew W. Fordenwalt sold 223 shares of Rockwell Automation stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $313.97, for a total transaction of $70,015.31. Following the sale, the senior vice president now directly owns 3,209 shares in the company, valued at $1,007,529.73. The trade was a 6.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,681 shares of company stock valued at $2,382,987. 0.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rockwell Automation

Several hedge funds and other institutional investors have recently bought and sold shares of ROK. Citizens National Bank Trust Department purchased a new position in shares of Rockwell Automation during the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new position in Rockwell Automation during the 1st quarter valued at $31,000. IMA Advisory Services Inc. bought a new stake in shares of Rockwell Automation during the first quarter valued at approximately $32,000. Bank of Jackson Hole Trust bought a new stake in shares of Rockwell Automation in the 4th quarter valued at about $34,000. Finally, Cooksen Wealth LLC bought a new position in shares of Rockwell Automation during the 1st quarter worth approximately $34,000. 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.