Rockwell Automation, Inc. (NYSE:ROK) Receives $281.93 Average PT from Analysts

Shares of Rockwell Automation, Inc. (NYSE:ROK) have earned a consensus rating of “Hold” from the fourteen ratings firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $284.21.

A number of analysts recently weighed in on ROK shares. JPMorgan Chase & Co. decreased their price target on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Oppenheimer upped their target price on Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday. Bank of America boosted their price target on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird increased their price objective on shares of Rockwell Automation from $280.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Wells Fargo & Company lifted their price objective on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, October 7th.

Rockwell Automation Stock Performance

NYSE ROK opened at $272.01 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68. Rockwell Automation has a 1-year low of $242.81 and a 1-year high of $312.76. The firm has a market capitalization of $30.86 billion, a P/E ratio of 30.91, a P/E/G ratio of 5.12 and a beta of 1.36. The business’s 50-day simple moving average is $266.92 and its 200-day simple moving average is $266.69.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the company posted $3.64 earnings per share. Rockwell Automation’s revenue was down 20.6% compared to the same quarter last year. Equities analysts predict that Rockwell Automation will post 9.65 EPS for the current year.

Rockwell Automation Increases Dividend

The business 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. The ex-dividend date is Monday, November 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.93%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is presently 56.82%.

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

Insider Buying and Selling

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $266.86, for a total transaction of $154,511.94. Following the sale, the senior vice president now owns 4,576 shares in the company, valued at $1,221,151.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.68% of the company’s stock.

Institutional Trading of Rockwell Automation

A number of institutional investors and hedge funds have recently modified their holdings of the business. Gladstone Institutional Advisory LLC lifted its holdings in shares of Rockwell Automation by 33.2% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 1,377 shares of the industrial products company’s stock worth $370,000 after purchasing an additional 343 shares during the last quarter. Vicus Capital acquired a new position in shares of Rockwell Automation during the third quarter valued at $304,000. SG Americas Securities LLC grew its position in shares of Rockwell Automation by 186.9% during the first quarter. SG Americas Securities LLC now owns 14,731 shares of the industrial products company’s stock worth $4,292,000 after acquiring an additional 9,596 shares during the last quarter. Comerica Bank increased its holdings in shares of Rockwell Automation by 6.1% in the 1st quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock worth $17,485,000 after acquiring an additional 3,425 shares during the period. Finally, Magnetar Financial LLC bought a new stake in Rockwell Automation in the 1st quarter valued at about $2,817,000. 75.75% of the stock is owned by institutional investors and hedge funds.

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.