On December 9, 2023, Matthew Fordenwalt, Senior Vice President at Rockwell Automation, Inc. (NYSE: ROK), sold 70 shares of the company’s stock in a transaction valued at $28,063.70. The shares were sold at an average price of $400.91 each. Following this sale, Fordenwalt now directly holds 4,583 shares, amounting to a total value of approximately $1,837,370.53. This transaction represented a 1.50% reduction in his ownership stake.
The details of the sale were disclosed in a filing with the Securities and Exchange Commission, which can be accessed for further reference. As of the same day, Rockwell Automation’s stock opened at $405.06, reflecting a decline of 1.9%.
Recent Financial Performance and Market Position
Rockwell Automation has shown a strong financial performance in recent quarters. The company’s market capitalization stands at $45.48 billion, with a price-to-earnings ratio of 52.88 and a price-to-earnings-growth ratio of 2.77. The stock has fluctuated between a 52-week low of $215.00 and a high of $415.89.
In its latest quarterly earnings report released on November 6, 2023, Rockwell Automation announced earnings per share (EPS) of $3.34, surpassing the consensus estimate of $2.94 by $0.40. The company generated revenue of $4.63 billion during this period, significantly exceeding analysts’ predictions of $2.19 billion. Year-over-year, revenue increased by 13.8%, highlighting the company’s robust growth.
For the fiscal year 2026, Rockwell Automation has projected an EPS range of $11.20 to $12.20. Analysts forecast an average EPS of 9.35 for the current fiscal year.
Analyst Ratings and Institutional Investments
Analysts have recently provided mixed ratings on Rockwell Automation’s stock. Wall Street Zen upgraded the company’s rating from “hold” to “buy” on September 21, 2023. TD Cowen increased its target price from $275.00 to $330.00 while maintaining a “hold” rating. Morgan Stanley raised its price objective from $385.00 to $435.00 and assigned an “overweight” rating on November 10, 2023. Barclays has similarly increased its target price from $417.00 to $435.00.
According to MarketBeat, Rockwell Automation has an average rating of “Moderate Buy,” with a consensus target price set at $390.33. The company has received one “Strong Buy” rating, ten “Buy” ratings, five “Hold” ratings, and one “Sell” rating.
Several institutional investors have also recently adjusted their holdings in Rockwell Automation. Thurston Springer Miller Herd & Titak Inc. increased its stake by 468.8% in the third quarter, now owning 91 shares valued at $32,000 after acquiring an additional 75 shares. Other firms, such as Rexford Capital Inc. and Ameriflex Group Inc., have also expanded their positions, reflecting growing confidence in the company’s market potential.
Currently, institutional investors own approximately 75.75% of Rockwell Automation’s stock.
Rockwell Automation, Inc. specializes in industrial automation and digital transformation solutions across various regions, including North America, Europe, the Middle East, Africa, Asia Pacific, and Latin America. The company operates through three primary segments: Intelligent Devices, Software & Control, and Lifecycle Services, providing a comprehensive range of products and services to its clients.
This strategic positioning and recent financial performance indicate a strong outlook for Rockwell Automation as it continues to navigate the complexities of the industrial automation landscape.
