Rockwell Automation (NYSE:ROK) Price Target Raised to $337.00 at Wells Fargo & Company

Rockwell Automation (NYSE:ROK) had its price target lifted by Wells Fargo & Company from $315.00 to $337.00 in a research note published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the industrial products company’s stock.

A number of other brokerages have also commented on ROK. HSBC raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 price objective for the company in a report on Wednesday, December 11th. Citigroup increased their price target on Rockwell Automation from $313.00 to $345.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Bank of America lifted their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Mizuho increased their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Oppenheimer boosted their price target on shares of Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rockwell Automation currently has an average rating of “Hold” and a consensus price target of $307.55.

Rockwell Automation Stock Up 0.5 %

ROK stock opened at $303.99 on Tuesday. 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 fifty-two week low of $242.81 and a fifty-two week high of $308.70. The stock’s 50 day simple moving average is $285.82 and its 200 day simple moving average is $275.28. The company has a market cap of $34.36 billion, a P/E ratio of 36.71, a price-to-earnings-growth ratio of 2.89 and a beta of 1.35.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. On average, research analysts expect that Rockwell Automation will post 9.32 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Tuesday, February 18th will be paid a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Tuesday, February 18th. Rockwell Automation’s dividend payout ratio is currently 65.26%.

Insiders Place Their Bets

In other Rockwell Automation news, VP Isaac Woods sold 895 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $274.72, for a total transaction of $245,874.40. Following the sale, the vice president now owns 1,198 shares of the company’s stock, valued at $329,114.56. The trade was a 42.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John M. Miller sold 467 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $284.07, for a total value of $132,660.69. Following the completion of the transaction, the vice president now directly owns 4,800 shares of the company’s stock, valued at $1,363,536. The trade was a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,857 shares of company stock worth $10,678,037 over the last quarter. 0.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rockwell Automation

Several hedge funds and other institutional investors have recently modified their holdings of ROK. Whittier Trust Co. increased its holdings in Rockwell Automation by 1.9% during the 4th quarter. Whittier Trust Co. now owns 1,896 shares of the industrial products company’s stock worth $542,000 after acquiring an additional 35 shares during the period. Prospera Financial Services Inc boosted its stake in Rockwell Automation by 0.9% during the third quarter. Prospera Financial Services Inc now owns 4,033 shares of the industrial products company’s stock valued at $1,083,000 after buying an additional 37 shares during the period. Bank Pictet & Cie Europe AG grew its position in Rockwell Automation by 0.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company’s stock worth $1,199,000 after buying an additional 38 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in Rockwell Automation by 3.0% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,351 shares of the industrial products company’s stock worth $386,000 after acquiring an additional 39 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. increased its stake in Rockwell Automation by 3.8% in the 4th quarter. Fortitude Advisory Group L.L.C. now owns 1,082 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 40 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors.

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.