Barclays Boosts Rockwell Automation (NYSE:ROK) Price Target to $300.00

Rockwell Automation (NYSE:ROK) had its price target hoisted by Barclays from $285.00 to $300.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

ROK has been the topic of several other research reports. BNP Paribas began coverage on Rockwell Automation in a report on Wednesday, November 13th. They set an “outperform” rating and a $345.00 target price on the stock. Jefferies Financial Group raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and lifted their target price for the stock from $290.00 to $350.00 in a report on Thursday, December 12th. Mizuho upped their price target on Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Stephens raised Rockwell Automation from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $275.00 to $350.00 in a research note on Thursday, January 16th. Finally, Citigroup lifted their price target on shares of Rockwell Automation from $345.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Rockwell Automation currently has an average rating of “Hold” and a consensus target price of $307.55.

Rockwell Automation Stock Up 0.5 %

Shares of ROK stock opened at $303.99 on Tuesday. The stock has a fifty day moving average price of $285.82 and a 200 day moving average price of $275.28. The stock 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 has a one year low of $242.81 and a one year high of $308.70. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. Analysts predict that Rockwell Automation will post 9.32 earnings per share for the current year.

Rockwell Automation Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Blake D. Moret sold 26,700 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the transaction, the chief executive officer now directly owns 78,115 shares of the company’s stock, valued at approximately $23,327,482.45. This trade represents a 25.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott Genereux sold 278 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $302.04, for a total value of $83,967.12. Following the sale, the vice president now owns 3,184 shares of the company’s stock, valued at approximately $961,695.36. The trade was a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,857 shares of company stock valued at $10,678,037. 0.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Rockwell Automation

Several hedge funds have recently bought and sold shares of the company. Richardson Financial Services Inc. lifted its stake in Rockwell Automation by 100.0% during the third 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 during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Rockwell Automation during the third quarter worth about $26,000. West Oak Capital LLC increased its position in Rockwell Automation by 455.6% in the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 82 shares during the period. Darwin Wealth Management LLC acquired a new stake in Rockwell Automation in the third quarter valued at $34,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Rockwell Automation in the fourth quarter valued at about $34,000. 75.75% of the stock is owned by institutional investors.

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.