Brokerages Set Rockwell Automation, Inc. (NYSE:ROK) Price Target at $282.80

Rockwell Automation, Inc. (NYSE:ROK) has been assigned a consensus recommendation of “Hold” from the sixteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $282.80.

A number of research firms have weighed in on ROK. JPMorgan Chase & Co. reduced their price objective on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Bank of America dropped their price target on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Barclays dropped their price target on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. TD Cowen dropped their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Finally, Morgan Stanley began coverage on shares of Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 price target on the stock.

Rockwell Automation Stock Down 0.2 %

NYSE:ROK opened at $261.06 on Tuesday. The firm has a market cap of $29.76 billion, a P/E ratio of 25.52, a P/E/G ratio of 4.57 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04. Rockwell Automation has a fifty-two week low of $242.81 and a fifty-two week high of $312.76. The firm has a 50-day simple moving average of $264.75 and a two-hundred day simple moving average of $269.64.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.63. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. Rockwell Automation’s revenue was down 8.4% compared to the same quarter last year. During the same period last year, the business earned $3.01 EPS. Analysts predict that Rockwell Automation will post 9.67 earnings per share for the current fiscal year.

Rockwell Automation announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Rockwell Automation

Several large investors have recently added to or reduced their stakes in ROK. Pathway Financial Advisers LLC bought a new position in shares of Rockwell Automation in the first quarter worth approximately $26,000. Riverview Trust Co bought a new position in shares of Rockwell Automation in the first quarter worth approximately $28,000. ESL Trust Services LLC bought a new position in shares of Rockwell Automation in the first quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Rockwell Automation in the second quarter worth approximately $36,000. Finally, Security National Bank bought a new position in shares of Rockwell Automation in the fourth quarter worth approximately $40,000. 75.75% of the stock is currently owned by institutional investors.

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.