Rockwell Automation (NYSE:ROK) Price Target Raised to $370.00

Rockwell Automation (NYSE:ROK) had its price objective upped by KeyCorp from $360.00 to $370.00 in a research report report published on Tuesday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other brokerages also recently issued reports on ROK. CICC Research began coverage on shares of Rockwell Automation in a report on Monday, July 7th. They set an “outperform” rating and a $381.00 price target for the company. Bank of America lifted their target price on shares of Rockwell Automation from $330.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. Citigroup reissued a “buy” rating and issued a $392.00 target price (up from $371.00) on shares of Rockwell Automation in a report on Monday. JPMorgan Chase & Co. raised their price target on Rockwell Automation from $271.00 to $299.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Finally, Wells Fargo & Company boosted their price objective on Rockwell Automation from $315.00 to $365.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Rockwell Automation has an average rating of “Moderate Buy” and a consensus target price of $341.11.

Rockwell Automation Stock Up 1.5%

NYSE ROK opened at $356.82 on Tuesday. Rockwell Automation has a 1-year low of $215.00 and a 1-year high of $357.64. The company has a market capitalization of $40.22 billion, a price-to-earnings ratio of 44.94, a PEG ratio of 3.95 and a beta of 1.38. The stock’s 50 day moving average is $323.60 and its two-hundred day moving average is $286.79. The company has a current ratio of 1.05, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

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

Rockwell Automation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be paid a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation’s payout ratio is presently 65.99%.

Insider Transactions at Rockwell Automation

In other news, SVP Matthew W. Fordenwalt sold 289 shares of the company’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $326.33, for a total transaction of $94,309.37. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Terry L. Riesterer sold 269 shares of the firm’s stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $355.26, for a total transaction of $95,564.94. Following the completion of the transaction, the vice president directly owned 1,613 shares of the company’s stock, valued at approximately $573,034.38. This trade represents a 14.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,757 shares of company stock worth $3,138,220. 0.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Citizens National Bank Trust Department acquired a new position in Rockwell Automation during the first quarter worth $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Rockwell Automation in the 1st quarter valued at about $31,000. IMA Advisory Services Inc. acquired a new position in shares of Rockwell Automation during the 1st quarter worth about $32,000. Cooksen Wealth LLC bought a new stake in shares of Rockwell Automation in the 1st quarter valued at about $34,000. Finally, Parvin Asset Management LLC bought a new stake in shares of Rockwell Automation in the 4th quarter valued at about $36,000. Institutional investors and hedge funds 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.