Rockwell Automation (NYSE:ROK) Upgraded at UBS Group

UBS Group upgraded shares of Rockwell Automation (NYSE:ROK) to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. TD Cowen dropped their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their target price on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Robert W. Baird increased their price objective on Rockwell Automation from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Mizuho boosted their target price on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Oppenheimer boosted their target price on shares of Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $286.13.

Rockwell Automation Stock Performance

Rockwell Automation stock traded down $1.22 during trading on Tuesday, reaching $285.21. The company had a trading volume of 435,984 shares, compared to its average volume of 880,846. The firm has a market capitalization of $32.20 billion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 2.98 and a beta of 1.36. The company has a current ratio of 1.08, a quick ratio of 1.17 and a debt-to-equity ratio of 0.70. The firm’s 50-day simple moving average is $268.55 and its 200 day simple moving average is $266.83. Rockwell Automation has a 52 week low of $242.81 and a 52 week high of $312.76.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.07. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. Rockwell Automation’s quarterly revenue was down 20.6% on a year-over-year basis. During the same period last year, the company posted $3.64 earnings per share. Sell-side analysts forecast that Rockwell Automation will post 9.46 earnings per share for the current fiscal year.

Rockwell Automation announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Rockwell Automation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.31 per share. The ex-dividend date is Monday, November 18th. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 dividend on an annualized basis and a yield of 1.84%. Rockwell Automation’s dividend payout ratio is currently 60.39%.

Insiders Place Their Bets

In other news, SVP Veena M. Lakkundi sold 579 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $266.86, for a total value of $154,511.94. Following the transaction, the senior vice president now owns 4,576 shares of the company’s stock, valued at $1,221,151.36. This represents a 11.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Rockwell Automation

Several institutional investors have recently bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new position in shares of Rockwell Automation in the 1st quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new position in Rockwell Automation in the third quarter worth approximately $26,000. Richardson Financial Services Inc. grew its holdings in 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 acquiring an additional 48 shares in the last quarter. ESL Trust Services LLC purchased a new stake in shares of Rockwell Automation in the 1st quarter valued at approximately $29,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Rockwell Automation in the 3rd quarter valued at $34,000. 75.75% of the stock is owned by institutional investors and hedge funds.

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.