Rockwell Automation, Inc. (NYSE:ROK) Receives Average Rating of “Hold” from Analysts

Rockwell Automation, Inc. (NYSE:ROK) has received an average rating of “Hold” from the eighteen research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $301.17.

A number of analysts recently commented on ROK shares. UBS Group began coverage on Rockwell Automation in a research report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 price objective for the company. BNP Paribas assumed coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 price objective on the stock. Robert W. Baird boosted their target price on shares of Rockwell Automation from $290.00 to $305.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Barclays upgraded shares of Rockwell Automation from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $255.00 to $290.00 in a research report on Thursday, December 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research report on Monday, October 7th.

Rockwell Automation Price Performance

ROK opened at $285.79 on Thursday. The company’s 50-day simple moving average is $285.90 and its two-hundred day simple moving average is $273.02. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08. The stock has a market capitalization of $32.30 billion, a P/E ratio of 34.52, a P/E/G ratio of 3.12 and a beta of 1.36. Rockwell Automation has a 52-week low of $242.81 and a 52-week high of $310.00.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.07. The company had revenue of $2.04 billion for 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%. The firm’s quarterly revenue was down 20.6% on a year-over-year basis. During the same quarter last year, the company posted $3.64 earnings per share. As a group, analysts predict that Rockwell Automation will post 9.37 EPS for the current year.

Rockwell Automation announced that its board has initiated a stock repurchase plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 3.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.31 dividend. This represents a $5.24 annualized dividend and a yield of 1.83%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, November 18th. Rockwell Automation’s dividend payout ratio is presently 63.29%.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction that occurred 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 sale, the senior vice president now owns 4,576 shares of the company’s stock, valued at $1,221,151.36. The trade was a 11.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Scott Genereux sold 278 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 3,184 shares of the company’s stock, valued at $961,695.36. This represents a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,541 shares of company stock valued at $10,586,674. 0.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rockwell Automation

Large investors have recently bought and sold shares of the business. State Street Corp grew its stake in shares of Rockwell Automation by 0.3% in the 3rd quarter. State Street Corp now owns 4,648,137 shares of the industrial products company’s stock worth $1,247,839,000 after buying an additional 11,949 shares in the last quarter. Geode Capital Management LLC grew its position in Rockwell Automation by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,683,202 shares of the industrial products company’s stock worth $717,865,000 after acquiring an additional 14,040 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Rockwell Automation by 33.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,556,292 shares of the industrial products company’s stock worth $417,802,000 after acquiring an additional 390,784 shares during the last quarter. Accredited Investors Inc. raised its position in Rockwell Automation by 162,058.5% during the third quarter. Accredited Investors Inc. now owns 1,185,379 shares of the industrial products company’s stock valued at $318,227,000 after purchasing an additional 1,184,648 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Rockwell Automation by 6.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,128,811 shares of the industrial products company’s stock valued at $303,041,000 after purchasing an additional 67,684 shares during the last quarter. Institutional investors 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.