Oppenheimer Forecasts Strong Price Appreciation for Rockwell Automation (NYSE:ROK) Stock

Rockwell Automation (NYSE:ROK) had its target price lifted by equities researchers at Oppenheimer from $304.00 to $371.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target suggests a potential upside of 4.21% from the company’s current price.

Several other analysts have also issued reports on ROK. KeyCorp boosted their target price on shares of Rockwell Automation from $360.00 to $370.00 and gave the company an “overweight” rating in a research report on Tuesday. TD Cowen upgraded Rockwell Automation from a “sell” rating to a “hold” rating and set a $275.00 target price for the company in a research report on Friday, May 9th. CICC Research initiated coverage on shares of Rockwell Automation in a report on Monday, July 7th. They issued an “outperform” rating and a $381.00 target price on the stock. Stephens restated an “overweight” rating and set a $375.00 price objective (up previously from $350.00) on shares of Rockwell Automation in a research report on Wednesday. Finally, Loop Capital boosted their target price on Rockwell Automation from $280.00 to $290.00 and gave the stock a “hold” rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $341.11.

Rockwell Automation Trading Down 0.1%

NYSE:ROK opened at $356.00 on Thursday. The firm has a market capitalization of $40.13 billion, a P/E ratio of 44.84, a P/E/G ratio of 3.64 and a beta of 1.38. The company has a fifty day moving average of $324.82 and a 200 day moving average of $287.27. The company has a quick ratio of 0.72, a current ratio of 1.05 and a debt-to-equity ratio of 0.71. Rockwell Automation has a 52 week low of $215.00 and a 52 week high of $359.16.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period last year, the company posted $2.50 EPS. Rockwell Automation’s revenue was down 5.9% on a year-over-year basis. 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 other news, SVP Tessa M. Myers sold 363 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $326.32, for a total transaction of $118,454.16. Following the sale, the senior vice president directly owned 4,063 shares in the company, valued at $1,325,838.16. This trade represents a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Terry L. Riesterer sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $304.13, for a total value of $760,325.00. Following the completion of the sale, the vice president directly owned 1,033 shares in the company, valued at approximately $314,166.29. The trade was a 70.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,757 shares of company stock valued at $3,138,220. 0.68% of the stock is owned by company insiders.

Institutional Trading of Rockwell Automation

Institutional investors have recently made changes to their positions in the company. Citizens National Bank Trust Department purchased a new position in Rockwell Automation during the first quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new position in Rockwell Automation in the 1st quarter valued at about $31,000. IMA Advisory Services Inc. purchased a new stake in Rockwell Automation during the 1st quarter worth approximately $32,000. Cooksen Wealth LLC purchased a new position in Rockwell Automation in the first quarter valued at $34,000. Finally, Parvin Asset Management LLC acquired a new position in shares of Rockwell Automation during the fourth quarter worth about $36,000. 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.