Rockwell Automation (NYSE:ROK) Price Target Raised to $350.00

Rockwell Automation (NYSE:ROK) had its price objective increased by Citigroup from $345.00 to $350.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other equities research analysts have also issued reports about the stock. Oppenheimer lifted their price target on shares of Rockwell Automation from $288.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 8th. UBS Group started coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 target price on the stock. Bank of America boosted their price target on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Stephens upgraded shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $275.00 to $350.00 in a research report on Thursday, January 16th. Finally, Mizuho boosted their price target on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $308.05.

Rockwell Automation Price Performance

Shares of Rockwell Automation stock opened at $298.51 on Tuesday. The company has a 50-day simple moving average of $286.23 and a two-hundred day simple moving average of $275.65. The stock has a market capitalization of $33.74 billion, a price-to-earnings ratio of 36.05, a price-to-earnings-growth ratio of 2.89 and a beta of 1.35. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. Rockwell Automation has a twelve month low of $242.81 and a twelve month high of $308.70.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.61 by $0.22. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. Analysts forecast that Rockwell Automation will post 9.32 EPS for the current year.

Rockwell Automation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $1.31 per share. The ex-dividend date is Tuesday, February 18th. This represents a $5.24 annualized dividend and a yield of 1.76%. Rockwell Automation’s payout ratio is 63.29%.

Insiders Place Their Bets

In other Rockwell Automation news, VP John M. Miller sold 467 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $284.07, for a total transaction of $132,660.69. Following the transaction, the vice president now owns 4,800 shares in the company, valued at approximately $1,363,536. This represents a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Blake D. Moret sold 26,700 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the completion of the sale, the chief executive officer now owns 78,115 shares of the company’s stock, valued at approximately $23,327,482.45. The trade was a 25.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,857 shares of company stock worth $10,678,037. Insiders own 0.68% of the company’s stock.

Institutional Trading of Rockwell Automation

Several institutional investors have recently made changes to their positions in ROK. Richardson Financial Services Inc. grew its stake in shares of Rockwell Automation by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 48 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Rockwell Automation in the 3rd quarter worth $26,000. West Oak Capital LLC grew its stake in shares of Rockwell Automation by 455.6% in the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 82 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Rockwell Automation in the 3rd quarter worth $34,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Rockwell Automation in the 4th quarter worth $34,000. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Company Profile

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.