Rockwell Automation (NYSE:ROK) Price Target Raised to $330.00 at KeyCorp

Rockwell Automation (NYSE:ROK) had its price objective hoisted by analysts at KeyCorp from $275.00 to $330.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price target would indicate a potential upside of 11.91% from the company’s previous close.

ROK has been the subject of several other reports. Robert W. Baird boosted their target price on Rockwell Automation from $305.00 to $315.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. BNP Paribas raised Rockwell Automation from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 9th. Morgan Stanley lifted their target price on shares of Rockwell Automation from $335.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. The Goldman Sachs Group raised their price objective on shares of Rockwell Automation from $257.00 to $290.00 and gave the stock a “sell” rating in a research report on Tuesday, February 11th. Finally, Oppenheimer upped their target price on shares of Rockwell Automation from $258.00 to $304.00 and gave the company an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $308.37.

Rockwell Automation Price Performance

ROK stock opened at $294.88 on Thursday. The business has a 50 day moving average price of $251.89 and a 200 day moving average price of $273.72. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.72. The stock has a market cap of $33.34 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 3.53 and a beta of 1.32. Rockwell Automation has a fifty-two week low of $215.00 and a fifty-two week high of $308.70.

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

Insider Buying and Selling at Rockwell Automation

In other news, SVP Matthew W. Fordenwalt sold 500 shares of Rockwell Automation stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $295.01, for a total transaction of $147,505.00. Following the completion of the sale, the senior vice president now directly owns 2,838 shares in the company, valued at approximately $837,238.38. This trade represents a 14.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Terry L. Riesterer sold 850 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $300.21, for a total value of $255,178.50. Following the completion of the sale, the vice president now owns 1,633 shares in the company, valued at approximately $490,242.93. This represents a 34.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,250 shares of company stock valued at $1,223,428. 0.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Rockwell Automation by 5.8% during the 3rd quarter. Principal Financial Group Inc. now owns 204,679 shares of the industrial products company’s stock valued at $54,948,000 after acquiring an additional 11,161 shares in the last quarter. Diversified Trust Co increased its stake in shares of Rockwell Automation by 10.0% during the 4th quarter. Diversified Trust Co now owns 4,451 shares of the industrial products company’s stock worth $1,272,000 after purchasing an additional 404 shares in the last quarter. Jacobs & Co. CA raised its position in shares of Rockwell Automation by 1.8% during the 4th quarter. Jacobs & Co. CA now owns 30,496 shares of the industrial products company’s stock worth $8,715,000 after purchasing an additional 530 shares during the last quarter. Graypoint LLC lifted its stake in Rockwell Automation by 9.5% in the 4th quarter. Graypoint LLC now owns 920 shares of the industrial products company’s stock valued at $263,000 after buying an additional 80 shares in the last quarter. Finally, West Oak Capital LLC grew its holdings in Rockwell Automation by 455.6% during the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

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.