Rockwell Automation (NYSE:ROK) Price Target Cut to $260.00 by Analysts at Mizuho

Rockwell Automation (NYSE:ROK) had its price target reduced by Mizuho from $265.00 to $260.00 in a report published on Wednesday, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. reiterated an underweight rating and set a $254.00 price objective on shares of Rockwell Automation in a research report on Thursday, March 21st. Barclays reduced their price objective on Rockwell Automation from $269.00 to $265.00 and set an underweight rating on the stock in a research note on Tuesday, April 2nd. Oppenheimer lowered their price objective on Rockwell Automation from $324.00 to $300.00 and set an outperform rating for the company in a research note on Thursday, February 1st. Wells Fargo & Company cut their target price on Rockwell Automation from $357.00 to $320.00 and set an overweight rating on the stock in a research report on Thursday, February 1st. Finally, Citigroup lowered their price target on Rockwell Automation from $330.00 to $322.00 and set a buy rating for the company in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rockwell Automation has a consensus rating of Hold and a consensus price target of $307.93.

Rockwell Automation Trading Up 0.6 %

Shares of Rockwell Automation stock opened at $273.54 on Wednesday. Rockwell Automation has a twelve month low of $252.11 and a twelve month high of $348.52. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $281.90 and a 200-day moving average price of $283.11. The firm has a market cap of $31.34 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 2.77 and a beta of 1.43.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.35. Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the business posted $3.01 EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. Equities research analysts anticipate that Rockwell Automation will post 11.98 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 13th will be given a $1.25 dividend. The ex-dividend date is Friday, May 10th. This represents a $5.00 annualized dividend and a yield of 1.83%. Rockwell Automation’s dividend payout ratio (DPR) is 47.57%.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Robert L. Buttermore sold 201 shares of Rockwell Automation stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $277.50, for a total transaction of $55,777.50. Following the completion of the sale, the senior vice president now directly owns 2,311 shares of the company’s stock, valued at approximately $641,302.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Scott Genereux sold 500 shares of Rockwell Automation stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $290.00, for a total transaction of $145,000.00. Following the transaction, the vice president now directly owns 2,383 shares of the company’s stock, valued at $691,070. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Robert L. Buttermore sold 201 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $277.50, for a total value of $55,777.50. Following the sale, the senior vice president now owns 2,311 shares of the company’s stock, valued at approximately $641,302.50. The disclosure for this sale can be found here. Insiders have sold 17,240 shares of company stock worth $4,891,324 in the last three months. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. OFI Invest Asset Management acquired a new stake in shares of Rockwell Automation in the 3rd quarter worth $26,000. Provence Wealth Management Group acquired a new stake in Rockwell Automation in the third quarter worth about $27,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Rockwell Automation during the fourth quarter worth about $27,000. Riverview Trust Co acquired a new position in shares of Rockwell Automation during the first quarter valued at about $28,000. Finally, Bfsg LLC purchased a new position in shares of Rockwell Automation in the 1st quarter valued at approximately $29,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

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.