Wells Fargo & Company Issues Positive Forecast for Rockwell Automation (NYSE:ROK) Stock Price

Rockwell Automation (NYSE:ROK) had its price objective hoisted by Wells Fargo & Company from $315.00 to $337.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other brokerages have also recently issued reports on ROK. UBS Group initiated coverage on Rockwell Automation in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 price target on the stock. HSBC upgraded Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 price target on the stock in a research report on Wednesday, December 11th. Mizuho boosted their price target on Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley boosted their price target on Rockwell Automation from $320.00 to $335.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Barclays dropped their target price on Rockwell Automation from $290.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rockwell Automation presently has an average rating of “Hold” and a consensus price target of $308.05.

Rockwell Automation Stock Down 1.1 %

Rockwell Automation stock opened at $298.51 on Tuesday. Rockwell Automation has a fifty-two week low of $242.81 and a fifty-two week high of $308.70. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08. The company has a market capitalization of $33.74 billion, a P/E ratio of 36.05, a PEG ratio of 2.89 and a beta of 1.35. The stock has a 50-day simple moving average of $286.23 and a 200-day simple moving average of $275.65.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. Equities research analysts expect that Rockwell Automation will post 9.32 earnings per share for the current year.

Rockwell Automation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Tuesday, February 18th will be issued a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, February 18th. Rockwell Automation’s dividend payout ratio is currently 63.29%.

Insider Buying and Selling

In related news, CEO Blake D. Moret sold 26,700 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $298.63, for a total value of $7,973,421.00. Following the sale, the chief executive officer now owns 78,115 shares of the company’s stock, valued at approximately $23,327,482.45. This represents a 25.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott Genereux sold 279 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $296.13, for a total value of $82,620.27. Following the completion of the sale, the vice president now directly owns 2,891 shares in the company, valued at approximately $856,111.83. The trade was a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,857 shares of company stock worth $10,678,037 in the last quarter. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Rockwell Automation

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co lifted its stake in Rockwell Automation by 5.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 154,727 shares of the industrial products company’s stock valued at $44,223,000 after buying an additional 7,359 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in Rockwell Automation by 1.9% in the 4th quarter. Champlain Investment Partners LLC now owns 854,672 shares of the industrial products company’s stock valued at $244,257,000 after buying an additional 16,065 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Rockwell Automation by 155.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 79,934 shares of the industrial products company’s stock valued at $22,844,000 after buying an additional 48,677 shares in the last quarter. GKV Capital Management Co. Inc. purchased a new stake in Rockwell Automation in the 4th quarter valued at approximately $57,000. Finally, Farringdon Capital Ltd. purchased a new stake in Rockwell Automation in the 4th quarter valued at approximately $215,000. Hedge funds and other institutional investors 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.