Rockwell Automation (NYSE:ROK) Given New $255.00 Price Target at Barclays

Rockwell Automation (NYSE:ROK) had its target price hoisted by Barclays from $245.00 to $255.00 in a research report report published on Friday morning,Benzinga reports. They currently have an underweight rating on the industrial products company’s stock.

ROK has been the subject of several other research reports. Wells Fargo & Company boosted their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Robert W. Baird increased their price target on Rockwell Automation from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday. Oppenheimer raised their target price on shares of Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday. Morgan Stanley initiated coverage on shares of Rockwell Automation in a research report on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective for the company. Finally, Bank of America boosted their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $284.21.

Rockwell Automation Trading Down 1.8 %

Shares of NYSE:ROK traded down $4.95 during midday trading on Friday, hitting $272.14. The company had a trading volume of 1,067,395 shares, compared to its average volume of 625,232. The firm has a fifty day simple moving average of $266.92 and a 200 day simple moving average of $266.69. The stock has a market cap of $30.88 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 5.12 and a beta of 1.36. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. Rockwell Automation has a 12 month low of $242.81 and a 12 month high of $312.76.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the prior year, the business posted $3.64 EPS. Rockwell Automation’s revenue was down 20.6% on a year-over-year basis. On average, analysts predict that Rockwell Automation will post 9.65 EPS for the current year.

Rockwell Automation announced that its Board of Directors has initiated a stock buyback program on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is 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 issued a dividend of $1.31 per share. The ex-dividend date is Monday, November 18th. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.93%. Rockwell Automation’s payout ratio is presently 56.82%.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the transaction, the senior vice president now owns 4,576 shares in the company, valued at $1,221,151.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Rockwell Automation

A number of institutional investors have recently modified their holdings of ROK. Tradewinds LLC. lifted its stake in Rockwell Automation by 8.5% in the 3rd quarter. Tradewinds LLC. now owns 18,219 shares of the industrial products company’s stock valued at $4,891,000 after purchasing an additional 1,420 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Rockwell Automation by 4.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 154,687 shares of the industrial products company’s stock valued at $41,528,000 after acquiring an additional 6,673 shares during the last quarter. Cornerstone Advisors LLC boosted its holdings in shares of Rockwell Automation by 4.3% during the 3rd quarter. Cornerstone Advisors LLC now owns 7,200 shares of the industrial products company’s stock valued at $1,933,000 after acquiring an additional 300 shares in the last quarter. Moran Wealth Management LLC grew its position in Rockwell Automation by 2.1% during the 3rd quarter. Moran Wealth Management LLC now owns 2,342 shares of the industrial products company’s stock worth $629,000 after acquiring an additional 48 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in Rockwell Automation in the 3rd quarter worth about $34,000. Institutional investors and hedge funds 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.