Rockwell Automation (NYSE:ROK) Price Target Raised to $305.00 at Robert W. Baird

Rockwell Automation (NYSE:ROK) had its price target lifted by Robert W. Baird from $290.00 to $305.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

A number of other equities research analysts have also weighed in on the company. TD Cowen decreased their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company lifted their price objective on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Morgan Stanley increased their target price on shares of Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. UBS Group assumed coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation has an average rating of “Hold” and a consensus target price of $287.13.

Rockwell Automation Stock Up 0.1 %

Shares of ROK opened at $295.14 on Tuesday. The firm has a fifty day moving average price of $274.63 and a 200-day moving average price of $268.05. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $33.32 billion, a P/E ratio of 35.64, a P/E/G ratio of 3.07 and a beta of 1.36. Rockwell Automation has a 12-month low of $242.81 and a 12-month high of $312.76.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.07. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. During the same period in the previous year, the company earned $3.64 EPS. The firm’s quarterly revenue was down 20.6% on a year-over-year basis. Equities research analysts expect that Rockwell Automation will post 9.44 earnings per share for the current year.

Rockwell Automation announced that its board has authorized a stock repurchase program on Thursday, September 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Rockwell Automation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.78%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation’s payout ratio is 63.29%.

Insider Buying and Selling

In other news, SVP Cyril Perducat sold 1,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the senior vice president now owns 3,630 shares in the company, valued at $1,089,000. This trade represents a 21.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James P. Keane sold 2,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $296.00, for a total transaction of $592,000.00. Following the transaction, the director now directly owns 11,518 shares in the company, valued at approximately $3,409,328. The trade was a 14.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,746 shares of company stock valued at $9,152,594 over the last quarter. 0.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rockwell Automation

Several large investors have recently bought and sold shares of ROK. Pathway Financial Advisers LLC acquired a new stake in shares of Rockwell Automation in the first quarter worth approximately $26,000. Richardson Financial Services Inc. grew its holdings in Rockwell Automation by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after buying an additional 48 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Rockwell Automation in the 3rd quarter worth $26,000. Darwin Wealth Management LLC purchased a new position in shares of Rockwell Automation during the 3rd quarter worth $34,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Rockwell Automation during the 2nd quarter worth $36,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

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.