Rockwell Automation (NYSE:ROK) Price Target Raised to $285.00 at Bank of America

Rockwell Automation (NYSE:ROK) had its target price raised by Bank of America from $270.00 to $285.00 in a research report report published on Thursday morning, Benzinga reports. Bank of America currently has a neutral rating on the industrial products company’s stock.

ROK has been the subject of a number of other research reports. TD Cowen decreased their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Oppenheimer raised their target price on shares of Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. reduced their price target on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Wells Fargo & Company raised their price objective on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Redburn Atlantic assumed coverage on Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 price objective on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Rockwell Automation has an average rating of “Hold” and a consensus target price of $286.47.

Rockwell Automation Trading Up 0.1 %

Shares of ROK opened at $272.82 on Thursday. The stock has a market capitalization of $31.10 billion, a P/E ratio of 26.67, a PEG ratio of 4.64 and a beta of 1.36. Rockwell Automation has a twelve month low of $242.81 and a twelve month high of $312.76. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The firm has a fifty day simple moving average of $264.95 and a two-hundred day simple moving average of $267.50.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.63. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business posted $3.01 earnings per share. Rockwell Automation’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, research analysts anticipate that Rockwell Automation will post 9.67 EPS for the current year.

Rockwell Automation announced that its board has approved a share repurchase program on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Rockwell Automation

Several institutional investors have recently bought and sold shares of ROK. Nomura Holdings Inc. purchased a new stake in shares of Rockwell Automation during the fourth quarter valued at approximately $718,000. CWM LLC boosted its stake in Rockwell Automation by 2.5% during the 1st quarter. CWM LLC now owns 2,628 shares of the industrial products company’s stock valued at $766,000 after purchasing an additional 63 shares during the last quarter. First Hawaiian Bank increased its holdings in shares of Rockwell Automation by 15.1% in the 1st quarter. First Hawaiian Bank now owns 2,983 shares of the industrial products company’s stock worth $869,000 after purchasing an additional 391 shares in the last quarter. Czech National Bank raised its stake in shares of Rockwell Automation by 0.4% in the first quarter. Czech National Bank now owns 20,162 shares of the industrial products company’s stock worth $5,874,000 after purchasing an additional 77 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its holdings in shares of Rockwell Automation by 42.5% during the first quarter. Banque Cantonale Vaudoise now owns 5,631 shares of the industrial products company’s stock valued at $1,640,000 after purchasing an additional 1,679 shares in the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

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.