Rockwell Automation (NYSE:ROK) Shares Gap Down to $287.86

Rockwell Automation, Inc. (NYSE:ROK) gapped down before the market opened on Thursday . The stock had previously closed at $287.86, but opened at $280.03. Rockwell Automation shares last traded at $276.42, with a volume of 152,563 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ROK shares. Barclays cut their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Citigroup lowered their target price on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $254.00 target price on shares of Rockwell Automation in a research note on Thursday, March 21st. Redburn Atlantic initiated coverage on Rockwell Automation in a research note on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price for the company. Finally, Wells Fargo & Company lowered their target price on Rockwell Automation from $312.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Rockwell Automation presently has a consensus rating of “Hold” and an average target price of $300.71.

Rockwell Automation Stock Performance

The stock has a 50-day moving average of $265.72 and a 200 day moving average of $278.49. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.11 and a quick ratio of 0.74. The stock has a market capitalization of $31.75 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 4.87 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.35. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.05 billion. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The company’s revenue was down 6.6% on a year-over-year basis. During the same period last year, the company earned $3.01 earnings per share. On average, analysts expect that Rockwell Automation, Inc. will post 10.16 EPS for the current year.

Rockwell Automation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be given a dividend of $1.25 per share. The ex-dividend date is Monday, August 12th. This represents a $5.00 annualized dividend and a dividend yield of 1.80%. Rockwell Automation’s payout ratio is currently 48.88%.

Insider Transactions at Rockwell Automation

In other news, VP John M. Miller sold 467 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $273.27, for a total transaction of $127,617.09. Following the completion of the transaction, the vice president now directly owns 4,800 shares in the company, valued at approximately $1,311,696. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Cyril Perducat sold 659 shares of Rockwell Automation stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $260.11, for a total transaction of $171,412.49. Following the transaction, the senior vice president now owns 4,630 shares in the company, valued at approximately $1,204,309.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $127,617.09. Following the transaction, the vice president now owns 4,800 shares in the company, valued at approximately $1,311,696. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,199 shares of company stock worth $572,750. 0.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rockwell Automation

Several institutional investors have recently modified their holdings of ROK. Bruce G. Allen Investments LLC bought a new stake in Rockwell Automation in the 4th quarter valued at approximately $27,000. Pathway Financial Advisers LLC bought a new stake in Rockwell Automation in the 1st quarter valued at approximately $26,000. Riverview Trust Co bought a new stake in Rockwell Automation in the 1st quarter valued at approximately $28,000. Bfsg LLC bought a new stake in Rockwell Automation in the 1st quarter valued at approximately $29,000. Finally, ESL Trust Services LLC bought a new stake in Rockwell Automation in the 1st quarter valued at approximately $29,000. 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.