Rockwell Automation (NYSE:ROK) PT Lowered to $260.00 at Mizuho

Rockwell Automation (NYSE:ROK) had its target price reduced by stock analysts at Mizuho from $265.00 to $260.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Mizuho’s price target would suggest a potential downside of 4.43% from the stock’s current price.

A number of other analysts have also weighed in on ROK. Citigroup cut their price objective on shares of Rockwell Automation from $330.00 to $322.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $254.00 price target on shares of Rockwell Automation in a research report on Thursday, March 21st. Oppenheimer decreased their price objective on Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, February 1st. Barclays dropped their target price on Rockwell Automation from $269.00 to $265.00 and set an “underweight” rating on the stock in a report on Tuesday, April 2nd. Finally, Wells Fargo & Company decreased their price target on Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $309.29.

Rockwell Automation Stock Performance

Shares of ROK opened at $272.04 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.25. The stock has a 50-day moving average of $281.90 and a two-hundred day moving average of $283.11. The stock has a market cap of $31.17 billion, a P/E ratio of 25.88, a P/E/G ratio of 2.77 and a beta of 1.43. Rockwell Automation has a one year low of $252.11 and a one year high of $348.52.

Rockwell Automation (NYSE:ROK) last released its earnings results on Tuesday, May 7th. The industrial products company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.35. Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the company posted $3.01 earnings per share. The company’s revenue was down 6.6% compared to the same quarter last year. As a group, research analysts predict that Rockwell Automation will post 11.98 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Nicholas C. Gangestad sold 1,989 shares of Rockwell Automation stock in a transaction on Monday, March 4th. The stock was sold at an average price of $288.17, for a total value of $573,170.13. Following the completion of the sale, the chief financial officer now directly owns 12,217 shares of the company’s stock, valued at $3,520,572.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Nicholas C. Gangestad sold 1,989 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $288.17, for a total transaction of $573,170.13. Following the sale, the chief financial officer now owns 12,217 shares of the company’s stock, valued at $3,520,572.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott Genereux sold 500 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $290.00, for a total value of $145,000.00. Following the completion of the sale, the vice president now directly owns 2,383 shares in the company, valued at approximately $691,070. The disclosure for this sale can be found here. Insiders have sold 17,240 shares of company stock worth $4,891,324 over the last ninety days. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Rockwell Automation

Institutional investors have recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in Rockwell Automation in the third quarter valued at $26,000. Provence Wealth Management Group purchased a new stake in Rockwell Automation during the third quarter worth approximately $27,000. Bruce G. Allen Investments LLC acquired a new position in Rockwell Automation in the fourth quarter valued at approximately $27,000. Riverview Trust Co purchased a new position in Rockwell Automation in the first quarter valued at approximately $28,000. Finally, Bfsg LLC acquired a new stake in Rockwell Automation during the first quarter worth approximately $29,000. 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.