Rockwell Automation (NYSE:ROK) Price Target Increased to $290.00 by Analysts at Oppenheimer

Rockwell Automation (NYSE:ROKGet Rating) had its target price lifted by Oppenheimer from $278.00 to $290.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

Several other research firms have also issued reports on ROK. Morgan Stanley increased their price objective on shares of Rockwell Automation from $269.00 to $284.00 and gave the stock an overweight rating in a research report on Friday, January 6th. Robert W. Baird raised their price target on shares of Rockwell Automation from $250.00 to $265.00 and gave the company an outperform rating in a report on Thursday, November 17th. Wells Fargo & Company raised their price target on shares of Rockwell Automation from $233.00 to $249.00 and gave the company an underweight rating in a report on Thursday, January 19th. Credit Suisse Group raised their price target on shares of Rockwell Automation from $241.00 to $243.00 and gave the company a neutral rating in a report on Thursday, November 3rd. Finally, Barclays raised their price target on shares of Rockwell Automation from $206.00 to $220.00 and gave the company an equal weight rating in a report on Thursday, January 5th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Rockwell Automation presently has a consensus rating of Hold and an average target price of $245.63.

Rockwell Automation Stock Performance

Shares of ROK stock opened at $277.98 on Tuesday. Rockwell Automation has a one year low of $190.08 and a one year high of $306.92. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.72 and a current ratio of 1.01. The company has a 50 day moving average price of $264.56 and a 200 day moving average price of $247.33. The firm has a market capitalization of $31.92 billion, a price-to-earnings ratio of 34.88, a price-to-earnings-growth ratio of 3.14 and a beta of 1.44.

Rockwell Automation (NYSE:ROKGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.10. Rockwell Automation had a net margin of 12.01% and a return on equity of 38.84%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the prior year, the business earned $2.33 earnings per share. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. Sell-side analysts anticipate that Rockwell Automation will post 10.68 EPS for the current year.

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 12th. Stockholders of record on Monday, November 14th were given a $1.18 dividend. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.12. This represents a $4.72 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Thursday, November 10th. Rockwell Automation’s dividend payout ratio (DPR) is presently 59.22%.

Insider Transactions at Rockwell Automation

In other news, SVP Frank C. Kulaszewicz sold 291 shares of the firm’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $264.40, for a total value of $76,940.40. Following the transaction, the senior vice president now directly owns 14,885 shares in the company, valued at approximately $3,935,594. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, 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 in the company, valued at approximately $307,402.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Frank C. Kulaszewicz sold 291 shares of the firm’s stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $264.40, for a total transaction of $76,940.40. Following the completion of the transaction, the senior vice president now owns 14,885 shares in the company, valued at $3,935,594. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,304 shares of company stock worth $3,410,562. 0.64% of the stock is currently owned by insiders.

Institutional Trading of Rockwell Automation

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Rockwell Automation by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 13,495,152 shares of the industrial products company’s stock valued at $2,902,943,000 after purchasing an additional 40,192 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Rockwell Automation by 13.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,364,908 shares of the industrial products company’s stock valued at $471,350,000 after purchasing an additional 288,808 shares during the last quarter. Amundi lifted its position in Rockwell Automation by 70.1% in the 2nd quarter. Amundi now owns 1,941,741 shares of the industrial products company’s stock valued at $387,703,000 after purchasing an additional 800,290 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Rockwell Automation by 104.1% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 1,498,756 shares of the industrial products company’s stock valued at $322,398,000 after purchasing an additional 764,385 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in Rockwell Automation by 3.3% in the 2nd quarter. Lazard Asset Management LLC now owns 1,181,718 shares of the industrial products company’s stock valued at $235,527,000 after purchasing an additional 37,515 shares during the last quarter. 77.66% of the stock is currently owned by institutional investors.

Rockwell Automation Company Profile

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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.

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