Rockwell Automation (NYSE:ROK) Price Target Lowered to $283.00 at Citigroup

Rockwell Automation (NYSE:ROK) had its price objective cut by Citigroup from $350.00 to $283.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

ROK has been the topic of a number of other reports. Stephens upgraded shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $275.00 to $350.00 in a report on Thursday, January 16th. KeyCorp lowered their price objective on shares of Rockwell Automation from $345.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Oppenheimer raised their target price on shares of Rockwell Automation from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Barclays reduced their price target on Rockwell Automation from $280.00 to $260.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Rockwell Automation from $248.00 to $201.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Rockwell Automation has an average rating of “Hold” and a consensus price target of $297.11.

Rockwell Automation Stock Up 1.7 %

Shares of ROK stock opened at $233.38 on Monday. The firm’s fifty day moving average price is $267.39 and its two-hundred day moving average price is $276.41. Rockwell Automation has a 1 year low of $215.00 and a 1 year high of $308.70. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $26.39 billion, a P/E ratio of 29.06, a PEG ratio of 3.53 and a beta of 1.39.

Rockwell Automation (NYSE:ROK) last released its earnings results 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 return on equity of 30.17% and a net margin of 11.38%. On average, equities analysts predict that Rockwell Automation will post 9.35 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.31 per share. The ex-dividend date is Monday, May 19th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.25%. Rockwell Automation’s payout ratio is presently 65.26%.

Insider Transactions at Rockwell Automation

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

Hedge Funds Weigh In On Rockwell Automation

Several hedge funds and other institutional investors have recently made changes to their positions in ROK. Vanguard Group Inc. increased its stake in Rockwell Automation by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 13,876,530 shares of the industrial products company’s stock valued at $3,965,774,000 after acquiring an additional 81,079 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Rockwell Automation by 6.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,115,280 shares of the industrial products company’s stock worth $2,033,476,000 after buying an additional 432,934 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Rockwell Automation by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 2,734,430 shares of the industrial products company’s stock worth $779,426,000 after buying an additional 51,228 shares in the last quarter. Amundi lifted its position in shares of Rockwell Automation by 26.2% during the 4th quarter. Amundi now owns 2,073,594 shares of the industrial products company’s stock worth $580,095,000 after buying an additional 430,498 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Rockwell Automation by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,036 shares of the industrial products company’s stock valued at $448,701,000 after buying an additional 13,744 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.