Rockwell Automation, Inc. (NYSE:ROK) Given Average Rating of “Hold” by Analysts

Rockwell Automation, Inc. (NYSE:ROK) has been given an average recommendation of “Hold” by the fifteen research firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $287.13.

Several equities analysts have commented on ROK shares. Oppenheimer raised their target price on shares of Rockwell Automation from $288.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Morgan Stanley raised their target price on shares of Rockwell Automation from $320.00 to $335.00 and gave the company an “overweight” rating in a report on Friday, November 15th. UBS Group assumed coverage on shares of Rockwell Automation in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 price target on the stock. BNP Paribas assumed coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They set an “outperform” rating and a $345.00 target price on the stock. Finally, Mizuho lifted their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th.

Rockwell Automation Price Performance

NYSE:ROK opened at $295.14 on Friday. Rockwell Automation has a 52 week low of $242.81 and a 52 week high of $312.76. The firm has a market cap of $33.32 billion, a price-to-earnings ratio of 35.64, a P/E/G ratio of 3.07 and a beta of 1.36. The firm’s 50-day simple moving average is $274.63 and its 200 day simple moving average is $268.03. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results 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 net margin of 11.53% and a return on equity of 30.42%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period last year, the firm earned $3.64 earnings per share. Rockwell Automation’s revenue for the quarter was down 20.6% compared to the same quarter last year. As a group, sell-side analysts predict that Rockwell Automation will post 9.44 earnings per share for the current year.

Rockwell Automation declared that its board has initiated a share buyback plan 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 buy up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Rockwell Automation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, November 18th. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is presently 63.29%.

Insider Activity at Rockwell Automation

In other news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $266.86, for a total value of $154,511.94. Following the transaction, the senior vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Cyril Perducat sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the senior vice president now owns 3,630 shares in the company, valued at $1,089,000. This represents a 21.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,746 shares of company stock worth $9,152,594 in the last quarter. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ROK. Accredited Investors Inc. boosted its holdings in Rockwell Automation by 162,058.5% in the third quarter. Accredited Investors Inc. now owns 1,185,379 shares of the industrial products company’s stock valued at $318,227,000 after acquiring an additional 1,184,648 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Rockwell Automation by 29,591.7% in the third quarter. International Assets Investment Management LLC now owns 936,178 shares of the industrial products company’s stock valued at $251,326,000 after acquiring an additional 933,025 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Rockwell Automation by 1,119.3% in the second quarter. Van ECK Associates Corp now owns 763,351 shares of the industrial products company’s stock valued at $210,135,000 after acquiring an additional 700,745 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Rockwell Automation by 33.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,556,292 shares of the industrial products company’s stock valued at $417,802,000 after acquiring an additional 390,784 shares in the last quarter. Finally, Electron Capital Partners LLC boosted its holdings in Rockwell Automation by 484.5% in the second quarter. Electron Capital Partners LLC now owns 412,371 shares of the industrial products company’s stock valued at $104,779,000 after acquiring an additional 341,814 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

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.