Rockwell Automation (NYSE:ROK) Price Target Raised to $305.00

Rockwell Automation (NYSE:ROK) had its price target increased by Robert W. Baird from $290.00 to $305.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the stock. BNP Paribas assumed coverage on shares of Rockwell Automation in a research note on Wednesday, November 13th. They set an “outperform” rating and a $345.00 price objective for the company. Barclays upped their price target on shares of Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Wells Fargo & Company raised their price objective on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. UBS Group assumed coverage on Rockwell Automation in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Rockwell Automation presently has an average rating of “Hold” and a consensus price target of $287.13.

Rockwell Automation Trading Down 0.9 %

Shares of ROK opened at $296.09 on Tuesday. Rockwell Automation has a twelve month low of $242.81 and a twelve month high of $312.76. The firm has a market capitalization of $33.43 billion, a P/E ratio of 35.76, a price-to-earnings-growth ratio of 3.02 and a beta of 1.36. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock’s fifty day simple moving average is $272.78 and its 200 day simple moving average is $267.48.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the business posted $3.64 EPS. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. On average, equities research analysts forecast that Rockwell Automation will post 9.46 earnings per share for the current year.

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

Rockwell Automation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a $1.31 dividend. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, November 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.77%. Rockwell Automation’s dividend payout ratio (DPR) is presently 63.29%.

Insider Activity

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $266.86, for a total value of $154,511.94. Following the sale, the senior vice president now directly owns 4,576 shares in the company, valued at approximately $1,221,151.36. This trade represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Blake D. Moret sold 26,700 shares of Rockwell Automation stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the completion of the sale, the chief executive officer now owns 78,115 shares in the company, valued at approximately $23,327,482.45. This represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,746 shares of company stock valued at $8,560,594. Company insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Rockwell Automation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROK. Pathway Financial Advisers LLC acquired a new stake in Rockwell Automation in the first quarter worth about $26,000. Ashton Thomas Securities LLC bought a new position in shares of Rockwell Automation in the third quarter valued at $26,000. Richardson Financial Services Inc. lifted its holdings in shares of Rockwell Automation by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in Rockwell Automation in the 3rd quarter worth about $34,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Rockwell Automation during the 2nd quarter worth about $36,000. 75.75% of the stock is 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.