Rockwell Automation (NYSE:ROK) Hits New 52-Week Low – Here’s Why

Shares of Rockwell Automation, Inc. (NYSE:ROK) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $237.50 and last traded at $237.99, with a volume of 414803 shares trading hands. The stock had previously closed at $260.86.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ROK. Barclays lowered their price target on Rockwell Automation from $285.00 to $280.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Loop Capital lifted their price target on Rockwell Automation from $260.00 to $280.00 and gave the stock a “hold” rating in a research report on Tuesday, February 25th. HSBC raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 price objective for the company in a research report on Wednesday, December 11th. Wells Fargo & Company boosted their target price on shares of Rockwell Automation from $315.00 to $337.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Finally, Morgan Stanley increased their price target on shares of Rockwell Automation from $335.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $307.42.

Rockwell Automation Price Performance

The company’s 50 day moving average price is $277.15 and its 200 day moving average price is $278.76. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08. The company has a market cap of $27.06 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 3.53 and a beta of 1.39.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.22. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. On average, equities research analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a $1.31 dividend. The ex-dividend date is Monday, May 19th. This represents a $5.24 annualized dividend and a yield of 2.19%. Rockwell Automation’s payout ratio is 65.26%.

Insider Activity

In related news, SVP Tessa M. Myers sold 1,231 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $285.43, for a total value of $351,364.33. Following the completion of the sale, the senior vice president now owns 3,650 shares of the company’s stock, valued at $1,041,819.50. This trade represents a 25.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Isaac Woods sold 895 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $329,114.56. This represents a 42.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,352 shares of company stock worth $1,246,298. 0.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rockwell Automation

Several large investors have recently made changes to their positions in the company. Townsquare Capital LLC boosted its stake in shares of Rockwell Automation by 13.2% in the 3rd quarter. Townsquare Capital LLC now owns 2,104 shares of the industrial products company’s stock valued at $565,000 after purchasing an additional 245 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in Rockwell Automation by 14.0% in the third quarter. Public Sector Pension Investment Board now owns 4,897 shares of the industrial products company’s stock valued at $1,315,000 after acquiring an additional 600 shares during the last quarter. Ascent Group LLC grew its holdings in Rockwell Automation by 7.2% during the 3rd quarter. Ascent Group LLC now owns 3,520 shares of the industrial products company’s stock worth $945,000 after acquiring an additional 235 shares during the period. Centiva Capital LP bought a new stake in shares of Rockwell Automation during the 3rd quarter valued at $1,186,000. Finally, Investment Management Corp of Ontario lifted its stake in shares of Rockwell Automation by 50.9% in the 3rd quarter. Investment Management Corp of Ontario now owns 3,854 shares of the industrial products company’s stock valued at $1,035,000 after purchasing an additional 1,300 shares during the period. 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.