Rockwell Automation (NYSE:ROK) Given New $275.00 Price Target at KeyCorp

Rockwell Automation (NYSE:ROK) had its target price trimmed by KeyCorp from $345.00 to $275.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Other analysts also recently issued reports about the company. Jefferies Financial Group upgraded Rockwell Automation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $290.00 to $350.00 in a report on Thursday, December 12th. The Goldman Sachs Group boosted their price target on shares of Rockwell Automation from $257.00 to $290.00 and gave the company a “sell” rating in a report on Tuesday, February 11th. Oppenheimer increased their price objective on shares of Rockwell Automation from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. HSBC raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 price objective for the company in a research note on Wednesday, December 11th. Finally, Robert W. Baird increased their target price on Rockwell Automation from $305.00 to $315.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $301.68.

Rockwell Automation Trading Down 4.5 %

Shares of ROK opened at $217.28 on Tuesday. The firm has a market capitalization of $24.57 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 3.53 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72. Rockwell Automation has a 1-year low of $215.29 and a 1-year high of $308.70. The company has a 50-day moving average of $271.23 and a 200 day moving average of $277.43.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. On average, research analysts expect that Rockwell Automation will post 9.35 EPS for the current year.

Rockwell Automation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.31 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $5.24 annualized dividend and a dividend yield of 2.41%. Rockwell Automation’s payout ratio is currently 65.26%.

Insider Activity

In other Rockwell Automation news, SVP Tessa M. Myers sold 1,231 shares of Rockwell Automation stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $285.43, for a total transaction of $351,364.33. Following the completion of the sale, the senior vice president now directly owns 3,650 shares in the company, valued at approximately $1,041,819.50. The trade was a 25.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Matheus De A. G. Viera Bulho sold 293 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $257.68, for a total transaction of $75,500.24. Following the completion of the sale, the senior vice president now owns 1,922 shares in the company, valued at $495,260.96. The trade was a 13.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,645 shares of company stock valued at $1,321,798 over the last ninety days. 0.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rockwell Automation

Hedge funds have recently added to or reduced their stakes in the business. West Oak Capital LLC boosted its stake in shares of Rockwell Automation by 455.6% in the fourth quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after buying an additional 82 shares during the last quarter. Bank of Jackson Hole Trust purchased a new position in Rockwell Automation during the fourth quarter valued at approximately $34,000. SBI Securities Co. Ltd. acquired a new position in Rockwell Automation in the fourth quarter valued at approximately $35,000. Parvin Asset Management LLC purchased a new stake in Rockwell Automation in the 4th quarter worth approximately $36,000. Finally, Flagship Wealth Advisors LLC acquired a new stake in shares of Rockwell Automation during the 4th quarter worth approximately $38,000. 75.75% of the stock is owned by hedge funds and other 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.