Rockwell Automation (NYSE:ROK) Price Target Lowered to $200.00 at Barclays

Rockwell Automation (NYSE:ROKGet Rating) had its price target dropped by Barclays from $220.00 to $200.00 in a note issued to investors on Tuesday, The Fly reports. Barclays‘s price target indicates a potential downside of 1.31% from the company’s current price.

A number of other research firms also recently issued reports on ROK. Credit Suisse Group reduced their price target on shares of Rockwell Automation from $308.00 to $256.00 in a research report on Wednesday, May 4th. TheStreet cut shares of Rockwell Automation from a “b-” rating to a “c” rating in a research report on Tuesday, May 3rd. StockNews.com assumed coverage on shares of Rockwell Automation in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Rockwell Automation from $220.00 to $200.00 in a research note on Thursday, May 5th. Finally, Robert W. Baird reduced their target price on Rockwell Automation from $310.00 to $255.00 in a research note on Wednesday, May 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Rockwell Automation presently has a consensus rating of “Hold” and an average target price of $274.88.

Shares of ROK stock opened at $202.66 on Tuesday. The business’s fifty day moving average price is $250.44 and its 200 day moving average price is $291.35. The firm has a market capitalization of $23.56 billion, a PE ratio of 36.85, a P/E/G ratio of 2.52 and a beta of 1.41. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.09 and a quick ratio of 0.78. Rockwell Automation has a 1-year low of $191.07 and a 1-year high of $354.99.

Rockwell Automation (NYSE:ROKGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.61). Rockwell Automation had a return on equity of 35.96% and a net margin of 8.81%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company earned $2.41 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts expect that Rockwell Automation will post 9.3 earnings per share for the current fiscal year.

Rockwell Automation declared that its board has authorized a stock buyback plan on Tuesday, May 3rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

In related news, Director Patricia A. Watson acquired 1,110 shares of the business’s stock in a transaction on Thursday, May 5th. The shares were bought at an average cost of $219.58 per share, with a total value of $243,733.80. Following the completion of the transaction, the director now directly owns 4,827 shares of the company’s stock, valued at approximately $1,059,912.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Kestra Private Wealth Services LLC boosted its position in Rockwell Automation by 1.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 2,061 shares of the industrial products company’s stock worth $719,000 after acquiring an additional 34 shares during the period. Corient Capital Partners LLC grew its position in Rockwell Automation by 1.7% during the third quarter. Corient Capital Partners LLC now owns 2,143 shares of the industrial products company’s stock valued at $630,000 after purchasing an additional 35 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in Rockwell Automation by 64.3% in the 4th quarter. Harbor Investment Advisory LLC now owns 92 shares of the industrial products company’s stock valued at $32,000 after buying an additional 36 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in Rockwell Automation by 0.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,285 shares of the industrial products company’s stock worth $1,495,000 after buying an additional 37 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Rockwell Automation by 4.9% during the 4th quarter. International Assets Investment Management LLC now owns 814 shares of the industrial products company’s stock valued at $284,000 after acquiring an additional 38 shares in the last quarter. 78.21% of the stock is currently owned by institutional investors and hedge funds.

About Rockwell Automation (Get Rating)

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.

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