Rockwell Automation (NYSE:ROK) Coverage Initiated at UBS Group

UBS Group started coverage on shares of Rockwell Automation (NYSE:ROK) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm issued a neutral rating and a $313.00 price target on the industrial products company’s stock.

Several other analysts have also recently commented on ROK. Barclays increased their price target on shares of Rockwell Automation from $245.00 to $255.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lowered their target price on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Robert W. Baird lifted their price target on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. TD Cowen decreased their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Finally, Oppenheimer raised their price objective on Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Rockwell Automation currently has a consensus rating of “Hold” and a consensus target price of $286.13.

Rockwell Automation Trading Down 0.1 %

Shares of ROK stock opened at $286.15 on Wednesday. The company has a market capitalization of $32.31 billion, a P/E ratio of 34.56, a P/E/G ratio of 2.95 and a beta of 1.36. Rockwell Automation has a 12-month low of $242.81 and a 12-month high of $312.76. The company has a quick ratio of 1.17, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $269.16 and a 200 day moving average price of $266.84.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the company posted $3.64 earnings per share. Rockwell Automation’s quarterly revenue was down 20.6% compared to the same quarter last year. Research analysts forecast that Rockwell Automation will post 9.54 earnings per share for the current fiscal year.

Rockwell Automation announced that its Board of Directors has approved a stock repurchase program on Thursday, September 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors 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 given a $1.31 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.83%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s dividend payout ratio (DPR) is 60.39%.

Insider Transactions at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $266.86, for a total value of $154,511.94. Following the completion of the transaction, the senior vice president now directly owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. This trade represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.68% of the company’s stock.

Institutional Trading of Rockwell Automation

A number of large investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in Rockwell Automation during the first quarter worth approximately $26,000. Richardson Financial Services Inc. grew its position in shares of Rockwell Automation by 100.0% during 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 during the third quarter worth approximately $26,000. ESL Trust Services LLC acquired a new position in Rockwell Automation in the 1st quarter valued at $29,000. Finally, Darwin Wealth Management LLC acquired a new position in Rockwell Automation in the third quarter valued at about $34,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

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.