Redburn Atlantic Begins Coverage on Rockwell Automation (NYSE:ROK)

Redburn Atlantic started coverage on shares of Rockwell Automation (NYSE:ROK) in a research note published on Monday morning, MarketBeat.com reports. The firm issued a neutral rating and a $256.00 price objective on the industrial products company’s stock.

ROK has been the topic of a number of other research reports. Robert W. Baird dropped their price target on Rockwell Automation from $310.00 to $304.00 and set an outperform rating on the stock in a research note on Wednesday, May 8th. Wells Fargo & Company decreased their price objective on shares of Rockwell Automation from $320.00 to $312.00 and set an overweight rating for the company in a research note on Wednesday, May 8th. Barclays lowered their price target on Rockwell Automation from $260.00 to $250.00 and set an underweight rating on the stock in a report on Tuesday, June 4th. Mizuho dropped their price objective on shares of Rockwell Automation from $265.00 to $260.00 and set a neutral rating on the stock in a research note on Wednesday, May 8th. Finally, Loop Capital reduced their price objective on Rockwell Automation from $300.00 to $290.00 and set a hold rating for the company in a research report on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $300.71.

Rockwell Automation Price Performance

NYSE:ROK opened at $274.23 on Monday. The business’s 50-day moving average price is $264.65 and its 200 day moving average price is $279.33. The firm has a market cap of $31.26 billion, a P/E ratio of 26.81, a PEG ratio of 4.38 and a beta of 1.37. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.69. Rockwell Automation has a 52-week low of $249.00 and a 52-week high of $348.52.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.35. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The firm’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.01 earnings per share. As a group, sell-side analysts predict that Rockwell Automation will post 10.15 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, August 12th. Rockwell Automation’s dividend payout ratio is currently 48.88%.

Insider Buying and Selling

In other Rockwell Automation news, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $273.27, for a total transaction of $127,617.09. Following the sale, the vice president now owns 4,800 shares in the company, valued at $1,311,696. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Tessa M. Myers sold 248 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $256.37, for a total value of $63,579.76. Following the sale, the senior vice president now owns 4,246 shares of the company’s stock, valued at approximately $1,088,547.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $273.27, for a total transaction of $127,617.09. Following the transaction, the vice president now directly owns 4,800 shares of the company’s stock, valued at $1,311,696. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,199 shares of company stock valued at $572,750. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Rockwell Automation

Several institutional investors have recently bought and sold shares of ROK. Alps Advisors Inc. lifted its position in shares of Rockwell Automation by 4.4% during the third quarter. Alps Advisors Inc. now owns 1,148 shares of the industrial products company’s stock worth $328,000 after purchasing an additional 48 shares in the last quarter. Lido Advisors LLC boosted its stake in Rockwell Automation by 4.0% in the third quarter. Lido Advisors LLC now owns 1,057 shares of the industrial products company’s stock valued at $302,000 after acquiring an additional 41 shares during the last quarter. Toroso Investments LLC grew its stake in shares of Rockwell Automation by 11.8% during the third quarter. Toroso Investments LLC now owns 3,826 shares of the industrial products company’s stock worth $1,094,000 after purchasing an additional 403 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in Rockwell Automation by 0.9% in the third quarter. Mercer Global Advisors Inc. ADV now owns 11,423 shares of the industrial products company’s stock valued at $3,266,000 after buying an additional 97 shares during the period. Finally, Integrated Wealth Concepts LLC raised its position in shares of Rockwell Automation by 1.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 6,243 shares of the industrial products company’s stock valued at $1,785,000 after acquiring an additional 102 shares during the period. 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.