Rockwell Automation (NYSE:ROK) Price Target Raised to $280.00

Rockwell Automation (NYSE:ROK) had its price objective upped by Loop Capital from $260.00 to $280.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the industrial products company’s stock.

Several other equities research analysts have also recently commented on the stock. Morgan Stanley lifted their price target on shares of Rockwell Automation from $335.00 to $345.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Robert W. Baird upped their target price on shares of Rockwell Automation from $305.00 to $315.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Barclays increased their price target on Rockwell Automation from $285.00 to $300.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Citigroup lifted their price objective on Rockwell Automation from $345.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, UBS Group started coverage on Rockwell Automation in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $307.55.

Rockwell Automation Stock Performance

ROK stock opened at $284.47 on Tuesday. The company has a 50 day moving average price of $286.10 and a 200 day moving average price of $278.11. Rockwell Automation has a fifty-two week low of $242.81 and a fifty-two week high of $308.70. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72. The stock has a market capitalization of $32.17 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 3.53 and a beta of 1.35.

Rockwell Automation (NYSE:ROK) last released its earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. Analysts forecast that Rockwell Automation will post 9.35 EPS for the current year.

Rockwell Automation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, February 18th. Rockwell Automation’s dividend payout ratio is 65.26%.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, CEO Blake D. Moret sold 1,741 shares of Rockwell Automation stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $296.67, for a total value of $516,502.47. Following the sale, the chief executive officer now owns 80,309 shares of the company’s stock, valued at $23,825,271.03. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Isaac Woods sold 895 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $274.72, for a total value of $245,874.40. Following the transaction, the vice president now directly owns 1,198 shares of the company’s stock, valued at $329,114.56. This represents a 42.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,540 shares of company stock valued at $1,935,134. 0.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rockwell Automation

Hedge funds have recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in Rockwell Automation during the third quarter worth $26,000. West Oak Capital LLC lifted its position in Rockwell Automation by 455.6% during the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after buying an additional 82 shares in the last quarter. Bank of Jackson Hole Trust acquired a new position in shares of Rockwell Automation during the 4th quarter worth about $34,000. SBI Securities Co. Ltd. bought a new position in shares of Rockwell Automation in the 4th quarter valued at about $35,000. Finally, Parvin Asset Management LLC acquired a new stake in shares of Rockwell Automation in the fourth quarter valued at 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.