Rockwell Automation (NYSE:ROK) Given New $392.00 Price Target at Citigroup

Rockwell Automation (NYSE:ROK) had its price target lifted by Citigroup from $371.00 to $392.00 in a report published on Monday,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

ROK has been the subject of several other reports. KeyCorp reaffirmed an “overweight” rating and set a $360.00 target price (up from $345.00) on shares of Rockwell Automation in a research note on Friday, June 13th. Oppenheimer upped their price target on shares of Rockwell Automation from $258.00 to $304.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. BNP Paribas upgraded shares of Rockwell Automation from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 9th. Wells Fargo & Company upped their price target on shares of Rockwell Automation from $315.00 to $365.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Finally, CICC Research initiated coverage on Rockwell Automation in a research note on Monday, July 7th. They issued an “outperform” rating and a $381.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $333.11.

Rockwell Automation Trading Up 0.1%

Shares of NYSE:ROK opened at $343.31 on Monday. The company has a current ratio of 1.05, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average of $319.04 and a two-hundred day moving average of $285.42. Rockwell Automation has a 12-month low of $215.00 and a 12-month high of $348.43. The company has a market capitalization of $38.70 billion, a PE ratio of 43.24, a PEG ratio of 3.86 and a beta of 1.38.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.36. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.50 EPS. As a group, analysts forecast that Rockwell Automation will post 9.35 EPS for the current year.

Rockwell Automation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be issued a $1.31 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $5.24 annualized dividend and a yield of 1.53%. Rockwell Automation’s dividend payout ratio (DPR) is currently 65.99%.

Insider Buying and Selling

In related news, SVP Matthew W. Fordenwalt sold 289 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $326.33, for a total transaction of $94,309.37. Following the sale, the senior vice president directly owned 3,196 shares of the company’s stock, valued at $1,042,950.68. This represents a 8.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Isaac Woods sold 297 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $326.31, for a total transaction of $96,914.07. Following the sale, the vice president directly owned 1,691 shares in the company, valued at approximately $551,790.21. The trade was a 14.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,388 shares of company stock valued at $2,307,487 over the last quarter. 0.68% of the stock is owned by corporate insiders.

Institutional Trading of Rockwell Automation

A number of large investors have recently modified their holdings of the stock. Citizens National Bank Trust Department purchased a new position in shares of Rockwell Automation in the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Rockwell Automation during the first quarter worth approximately $31,000. IMA Advisory Services Inc. purchased a new stake in shares of Rockwell Automation during the first quarter worth approximately $32,000. Parvin Asset Management LLC purchased a new stake in shares of Rockwell Automation during the fourth quarter worth approximately $36,000. Finally, Cooksen Wealth LLC purchased a new stake in shares of Rockwell Automation during the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

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.