Citigroup Issues Positive Forecast for Rockwell Automation (NYSE:ROK) Stock Price

Rockwell Automation (NYSE:ROK) had its price target lifted by Citigroup from $327.00 to $371.00 in a report issued on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

Several other equities analysts have also weighed in on ROK. BNP Paribas raised Rockwell Automation from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 9th. Wells Fargo & Company upped their price target on Rockwell Automation from $265.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Oppenheimer increased their price target on Rockwell Automation from $258.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Barclays upgraded Rockwell Automation from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $283.00 to $350.00 in a research note on Friday, May 30th. Finally, TD Cowen raised shares of Rockwell Automation from a “sell” rating to a “hold” rating and set a $275.00 price objective on the stock in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Rockwell Automation presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.21.

Rockwell Automation Stock Up 0.7%

Shares of NYSE:ROK opened at $318.98 on Wednesday. Rockwell Automation has a 1 year low of $215.00 and a 1 year high of $320.32. The company has a market capitalization of $35.95 billion, a PE ratio of 39.72, a price-to-earnings-growth ratio of 3.53 and a beta of 1.38. The business has a fifty day moving average price of $268.02 and a two-hundred day moving average price of $278.11. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the firm earned $2.50 EPS. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. Analysts forecast that Rockwell Automation will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a $1.31 dividend. The ex-dividend date is Monday, May 19th. This represents a $5.24 annualized dividend and a dividend yield of 1.64%. Rockwell Automation’s payout ratio is currently 65.99%.

Insider Buying and Selling

In other news, SVP Matthew W. Fordenwalt sold 223 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $313.97, for a total transaction of $70,015.31. Following the completion of the transaction, the senior vice president now owns 3,209 shares of the company’s stock, valued at approximately $1,007,529.73. The trade was a 6.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Terry L. Riesterer sold 2,500 shares of Rockwell Automation stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $304.13, for a total transaction of $760,325.00. Following the sale, the vice president now owns 1,033 shares of the company’s stock, valued at approximately $314,166.29. The trade was a 70.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,405 shares of company stock worth $1,640,796. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new position in shares of Rockwell Automation during the 4th quarter valued at about $281,000. E. Ohman J or Asset Management AB boosted its stake in Rockwell Automation by 4.2% in the fourth quarter. E. Ohman J or Asset Management AB now owns 5,000 shares of the industrial products company’s stock worth $1,429,000 after buying an additional 200 shares in the last quarter. Hager Investment Management Services LLC purchased a new stake in Rockwell Automation in the fourth quarter worth approximately $590,000. Mirae Asset Global Investments Co. Ltd. grew its position in Rockwell Automation by 27.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,496 shares of the industrial products company’s stock valued at $3,330,000 after acquiring an additional 2,472 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its stake in shares of Rockwell Automation by 5.7% during the fourth quarter. Bleakley Financial Group LLC now owns 3,353 shares of the industrial products company’s stock worth $958,000 after acquiring an additional 182 shares in the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

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.