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

Rockwell Automation (NYSE:ROK) had its price objective hoisted by analysts at Oppenheimer from $300.00 to $320.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s target price would suggest a potential upside of 5.91% from the company’s current price.

Several other brokerages have also recently issued reports on ROK. Morgan Stanley raised their target price on shares of Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Citigroup raised their target price on Rockwell Automation from $345.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group began coverage on Rockwell Automation in a research report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 price target for the company. Robert W. Baird lifted their price objective on Rockwell Automation from $305.00 to $315.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. decreased their target price on Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating for the company in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $307.68.

Rockwell Automation Price Performance

Shares of Rockwell Automation stock opened at $302.14 on Tuesday. The stock has a market capitalization of $34.15 billion, a price-to-earnings ratio of 36.49, a price-to-earnings-growth ratio of 2.89 and a beta of 1.35. The company has a fifty day moving average of $285.72 and a 200-day moving average of $275.06. Rockwell Automation has a 52-week low of $242.81 and a 52-week high of $308.70. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. Equities research analysts expect that Rockwell Automation will post 9.32 EPS for the current year.

Insider Transactions at Rockwell Automation

In related news, VP Isaac Woods sold 895 shares of the business’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 value of $245,874.40. Following the completion of the transaction, the vice president now directly owns 1,198 shares in the company, valued at $329,114.56. The trade was a 42.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Scott Genereux sold 278 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $302.04, for a total value of $83,967.12. Following the sale, the vice president now owns 3,184 shares in the company, valued at approximately $961,695.36. This 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. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Rockwell Automation

A number of hedge funds have recently bought and sold shares of the business. Richardson Financial Services Inc. grew its stake in shares of Rockwell Automation by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 48 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Rockwell Automation in the third quarter worth approximately $26,000. West Oak Capital LLC grew its position in Rockwell Automation by 455.6% in the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 82 shares during the period. Darwin Wealth Management LLC purchased a new stake in Rockwell Automation during the 3rd quarter valued at $34,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Rockwell Automation during the 4th quarter valued at $34,000. Hedge funds and other institutional investors 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.