Rockwell Automation, Inc. (NYSE:ROK) Given Average Recommendation of “Hold” by Analysts

Shares of Rockwell Automation, Inc. (NYSE:ROK) have been given an average recommendation of “Hold” by the eighteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $301.17.

A number of equities research analysts have recently weighed in on ROK shares. Citigroup boosted their price objective on shares of Rockwell Automation from $313.00 to $345.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Barclays raised shares of Rockwell Automation from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $255.00 to $290.00 in a research note on Thursday, December 5th. KeyCorp raised Rockwell Automation from a “sector weight” rating to an “overweight” rating and set a $345.00 price objective on the stock in a research note on Monday, December 9th. UBS Group initiated coverage on Rockwell Automation in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 target price for the company. Finally, Wells Fargo & Company raised their price target on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th.

Insider Activity at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the sale, the senior vice president now owns 4,576 shares of the company’s stock, valued at $1,221,151.36. The trade was a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Scott Genereux sold 278 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $302.04, for a total transaction of $83,967.12. Following the completion of the sale, the vice president now owns 3,184 shares in the company, valued at approximately $961,695.36. This trade represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,541 shares of company stock worth $10,586,674 over the last ninety days. 0.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rockwell Automation

Several hedge funds have recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. boosted its stake 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 worth $26,000 after purchasing an additional 48 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Rockwell Automation in the third quarter worth approximately $26,000. Darwin Wealth Management LLC bought a new position in shares of Rockwell Automation in the third quarter worth approximately $34,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Rockwell Automation during the second quarter valued at approximately $36,000. Finally, DiNuzzo Private Wealth Inc. increased its position in shares of Rockwell Automation by 1,707.7% during the third quarter. DiNuzzo Private Wealth Inc. now owns 235 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 222 shares in the last quarter. 75.75% of the stock is owned by institutional investors.

Rockwell Automation Stock Up 0.1 %

Shares of NYSE:ROK opened at $285.79 on Thursday. The firm has a market capitalization of $32.30 billion, a PE ratio of 34.52, a price-to-earnings-growth ratio of 3.12 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08. Rockwell Automation has a 52-week low of $242.81 and a 52-week high of $310.00. The firm has a fifty day moving average of $285.90 and a 200 day moving average of $273.02.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.40 by $0.07. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The company’s revenue was down 20.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.64 EPS. As a group, research analysts anticipate that Rockwell Automation will post 9.37 EPS for the current fiscal year.

Rockwell Automation declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.83%. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date was Monday, November 18th. Rockwell Automation’s payout ratio is presently 63.29%.

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.