Rockwell Automation (NYSE:ROK) Price Target Raised to $265.00

Rockwell Automation (NYSE:ROKGet Rating) had its target price boosted by Robert W. Baird from $250.00 to $265.00 in a report issued on Thursday, The Fly reports. They currently have an outperform rating on the industrial products company’s stock.

Several other research firms have also issued reports on ROK. Sanford C. Bernstein lowered Rockwell Automation from an outperform rating to a market perform rating and set a $290.00 price target on the stock. in a research report on Tuesday, August 16th. Credit Suisse Group upped their price target on Rockwell Automation from $241.00 to $243.00 and gave the company a neutral rating in a research report on Thursday, November 3rd. StockNews.com assumed coverage on Rockwell Automation in a research report on Wednesday, October 12th. They set a hold rating on the stock. Oppenheimer upped their price target on Rockwell Automation from $260.00 to $278.00 and gave the company an outperform rating in a research report on Thursday. Finally, TheStreet raised Rockwell Automation from a c rating to a b rating in a research report on Thursday, September 15th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $238.19.

Rockwell Automation Stock Performance

Rockwell Automation stock opened at $264.74 on Thursday. The stock’s 50 day moving average price is $239.82 and its 200 day moving average price is $227.19. The firm has a market capitalization of $30.40 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 2.66 and a beta of 1.46. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.72 and a current ratio of 1.01. Rockwell Automation has a one year low of $190.08 and a one year high of $354.99.

Rockwell Automation (NYSE:ROKGet Rating) last announced its earnings results on Wednesday, November 2nd. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.09. Rockwell Automation had a return on equity of 38.84% and a net margin of 12.01%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same period in the prior year, the company posted $2.33 EPS. Rockwell Automation’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, sell-side analysts expect that Rockwell Automation will post 10.7 EPS for the current fiscal year.

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Monday, November 14th will be paid a $1.18 dividend. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $4.72 annualized dividend and a dividend yield of 1.78%. Rockwell Automation’s dividend payout ratio is presently 59.22%.

Insider Transactions at Rockwell Automation

In other news, SVP Veena M. Lakkundi sold 606 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $242.24, for a total value of $146,797.44. Following the completion of the transaction, the senior vice president now owns 1,269 shares of the company’s stock, valued at $307,402.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Christopher Nardecchia sold 428 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $226.38, for a total transaction of $96,890.64. Following the completion of the transaction, the senior vice president now owns 7,809 shares of the company’s stock, valued at $1,767,801.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Veena M. Lakkundi sold 606 shares of the firm’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $242.24, for a total value of $146,797.44. Following the transaction, the senior vice president now directly owns 1,269 shares of the company’s stock, valued at approximately $307,402.56. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. First Hawaiian Bank boosted its stake in Rockwell Automation by 176.3% during the second quarter. First Hawaiian Bank now owns 2,158 shares of the industrial products company’s stock valued at $430,000 after buying an additional 1,377 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Rockwell Automation by 38.8% during the second quarter. Illinois Municipal Retirement Fund now owns 9,846 shares of the industrial products company’s stock valued at $1,962,000 after purchasing an additional 2,750 shares during the last quarter. Pinebridge Investments L.P. lifted its holdings in shares of Rockwell Automation by 109.9% during the second quarter. Pinebridge Investments L.P. now owns 48,364 shares of the industrial products company’s stock valued at $9,639,000 after purchasing an additional 25,323 shares during the last quarter. Wealthsource Partners LLC lifted its holdings in shares of Rockwell Automation by 32.4% during the second quarter. Wealthsource Partners LLC now owns 1,225 shares of the industrial products company’s stock valued at $244,000 after purchasing an additional 300 shares during the last quarter. Finally, Weil Company Inc. lifted its holdings in shares of Rockwell Automation by 83.5% during the first quarter. Weil Company Inc. now owns 9,257 shares of the industrial products company’s stock valued at $2,592,000 after purchasing an additional 4,211 shares during the last quarter. Institutional investors own 79.11% of the company’s stock.

About Rockwell Automation

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Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.

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