Rockwell Automation (NYSE:ROK) Price Target Raised to $227.00 at Wells Fargo & Company

Rockwell Automation (NYSE:ROKGet Rating) had its price objective lifted by Wells Fargo & Company to $227.00 in a research note issued to investors on Monday, Stock Target Advisor reports.

A number of other brokerages have also commented on ROK. Credit Suisse Group boosted their target price on Rockwell Automation from $241.00 to $243.00 and gave the company a neutral rating in a research report on Thursday, November 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on Rockwell Automation from $231.00 to $239.00 and gave the company a hold rating in a research note on Thursday, October 13th. JPMorgan Chase & Co. lifted their price target on Rockwell Automation from $180.00 to $195.00 and gave the company an underweight rating in a research note on Friday, November 4th. Oppenheimer lifted their price target on Rockwell Automation from $260.00 to $278.00 and gave the company an outperform rating in a research note on Thursday, November 17th. Finally, StockNews.com assumed coverage on Rockwell Automation in a research note on Wednesday, October 12th. They set a hold rating for the company. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Rockwell Automation presently has an average rating of Hold and a consensus price target of $240.56.

Rockwell Automation Stock Performance

Shares of Rockwell Automation stock opened at $266.61 on Monday. Rockwell Automation has a one year low of $190.08 and a one year high of $354.99. The firm has a market capitalization of $30.62 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 2.68 and a beta of 1.46. The business has a 50-day simple moving average of $240.65 and a 200 day simple moving average of $228.17. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.01 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROKGet Rating) last issued its earnings results on Wednesday, November 2nd. The industrial products company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.09. Rockwell Automation had a return on equity of 38.84% and a net margin of 12.01%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same period in the previous year, the company posted $2.33 EPS. The firm’s revenue was up 17.6% compared to the same quarter last year. On average, research analysts anticipate that Rockwell Automation will post 10.7 earnings per share for the current fiscal year.

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Monday, November 14th will be paid a $1.18 dividend. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $4.72 annualized dividend and a yield of 1.77%. Rockwell Automation’s dividend payout ratio is presently 59.22%.

Insider Activity at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 606 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $242.24, for a total value of $146,797.44. Following the transaction, the senior vice president now owns 1,269 shares in the company, valued at $307,402.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Rockwell Automation news, SVP Christopher Nardecchia sold 428 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $226.38, for a total transaction of $96,890.64. Following the sale, the senior vice president now owns 7,809 shares of the company’s stock, valued at approximately $1,767,801.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Veena M. Lakkundi sold 606 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $242.24, for a total transaction of $146,797.44. Following the sale, the senior vice president now directly owns 1,269 shares in the company, valued at approximately $307,402.56. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rockwell Automation

A number of hedge funds and other institutional investors have recently bought and sold shares of ROK. Raymond James Trust N.A. increased its position in shares of Rockwell Automation by 1.5% during the third quarter. Raymond James Trust N.A. now owns 2,633 shares of the industrial products company’s stock valued at $566,000 after acquiring an additional 40 shares in the last quarter. Rossmore Private Capital increased its position in shares of Rockwell Automation by 1.4% during the third quarter. Rossmore Private Capital now owns 2,839 shares of the industrial products company’s stock valued at $611,000 after acquiring an additional 40 shares in the last quarter. HB Wealth Management LLC increased its position in shares of Rockwell Automation by 1.3% during the third quarter. HB Wealth Management LLC now owns 3,423 shares of the industrial products company’s stock valued at $736,000 after acquiring an additional 44 shares in the last quarter. Allstate Corp increased its position in shares of Rockwell Automation by 1.0% during the third quarter. Allstate Corp now owns 4,575 shares of the industrial products company’s stock valued at $984,000 after acquiring an additional 45 shares in the last quarter. Finally, Tiedemann Advisors LLC increased its position in shares of Rockwell Automation by 0.7% during the second quarter. Tiedemann Advisors LLC now owns 6,416 shares of the industrial products company’s stock valued at $1,279,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 79.11% of the company’s stock.

About Rockwell Automation

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Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.

Further Reading

Analyst Recommendations for Rockwell Automation (NYSE:ROK)

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