Rockwell Automation (NYSE:ROK) Hits New 1-Year Low Following Analyst Downgrade

Shares of Rockwell Automation, Inc. (NYSE:ROK) reached a new 52-week low on Wednesday after Barclays lowered their price target on the stock from $280.00 to $260.00. Barclays currently has an equal weight rating on the stock. Rockwell Automation traded as low as $215.29 and last traded at $217.28, with a volume of 1258052 shares trading hands. The stock had previously closed at $227.62.

A number of other research analysts have also recently issued reports on ROK. HSBC raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 price target for the company in a report on Wednesday, December 11th. Robert W. Baird upped their target price on shares of Rockwell Automation from $305.00 to $315.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. dropped their price objective on shares of Rockwell Automation from $248.00 to $201.00 and set an “underweight” rating for the company in a research report on Tuesday. Wells Fargo & Company upped their price objective on Rockwell Automation from $315.00 to $337.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, Jefferies Financial Group upgraded Rockwell Automation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $290.00 to $350.00 in a research report on Thursday, December 12th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $300.63.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, VP Terry L. Riesterer sold 850 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $300.21, for a total value of $255,178.50. Following the completion of the transaction, the vice president now directly owns 1,633 shares of the company’s stock, valued at approximately $490,242.93. The trade was a 34.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matheus De A. G. Viera Bulho sold 293 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $257.68, for a total value of $75,500.24. Following the sale, the senior vice president now directly owns 1,922 shares in the company, valued at approximately $495,260.96. This represents a 13.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,750 shares of company stock valued at $1,075,923. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Rockwell Automation

Several large investors have recently made changes to their positions in the stock. West Oak Capital LLC boosted its stake 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 worth $29,000 after purchasing an additional 82 shares during the period. Bank of Jackson Hole Trust bought a new stake in shares of Rockwell Automation in the fourth quarter valued at about $34,000. SBI Securities Co. Ltd. acquired a new position in shares of Rockwell Automation during the fourth quarter worth about $35,000. Parvin Asset Management LLC bought a new position in shares of Rockwell Automation during the fourth quarter worth about $36,000. Finally, Flagship Wealth Advisors LLC acquired a new stake in Rockwell Automation in the 4th quarter valued at approximately $38,000. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

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 stock has a 50-day moving average of $268.95 and a 200-day moving average of $276.84. The firm has a market cap of $26.03 billion, a price-to-earnings ratio of 28.67, a price-to-earnings-growth ratio of 3.53 and a beta of 1.39.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. As a group, analysts anticipate that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a $1.31 dividend. This represents a $5.24 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, May 19th. Rockwell Automation’s payout ratio is 65.26%.

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.