Rockwell Automation (NYSE:ROK) Price Target Raised to $320.00

Rockwell Automation (NYSE:ROK) had its target price lifted by Oppenheimer from $300.00 to $320.00 in a report issued on Tuesday,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other analysts have also recently issued reports about the company. Citigroup upped their target price on Rockwell Automation from $345.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday. BNP Paribas began coverage on Rockwell Automation in a report on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 target price for the company. JPMorgan Chase & Co. dropped their target price on Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating for the company in a report on Wednesday, January 15th. Robert W. Baird upped their target price on Rockwell Automation from $305.00 to $315.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Bank of America upped their target price on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $308.05.

Rockwell Automation Stock Down 1.1 %

Shares of ROK opened at $298.51 on Tuesday. 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 has a one year low of $242.81 and a one year high of $308.70. The stock has a market capitalization of $33.74 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 2.89 and a beta of 1.35. The stock has a 50 day moving average price of $286.23 and a 200 day moving average price of $275.65.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. Equities research analysts forecast that Rockwell Automation will post 9.32 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Tuesday, February 18th will be paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.76%. The ex-dividend date is Tuesday, February 18th. Rockwell Automation’s payout ratio is 63.29%.

Insider Buying and Selling

In related news, VP Scott Genereux sold 278 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $302.04, for a total transaction of $83,967.12. Following the transaction, the vice president now owns 3,184 shares of the company’s stock, valued at approximately $961,695.36. This represents a 8.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John M. Miller sold 467 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $284.07, for a total value of $132,660.69. Following the transaction, the vice president now directly owns 4,800 shares in the company, valued at approximately $1,363,536. The trade was a 8.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,857 shares of company stock valued at $10,678,037. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Rockwell Automation

Several hedge funds have recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Rockwell Automation in the 3rd quarter valued at about $26,000. Richardson Financial Services Inc. raised its position in Rockwell Automation by 100.0% in the 3rd 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 in the last quarter. West Oak Capital LLC raised its position in Rockwell Automation by 455.6% in the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. Bank of Jackson Hole Trust acquired a new stake in Rockwell Automation in the 4th quarter valued at about $34,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Rockwell Automation in the 4th quarter valued at about $35,000. Institutional investors and hedge funds 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.