Rockwell Automation (NYSE:ROK) Price Target Lowered to $260.00 at Barclays

Rockwell Automation (NYSE:ROK) had its price objective decreased by Barclays from $280.00 to $260.00 in a research report report published on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

Other research analysts have also issued reports about the company. Wells Fargo & Company boosted their target price on Rockwell Automation from $315.00 to $337.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Stephens raised shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $275.00 to $350.00 in a research report on Thursday, January 16th. The Goldman Sachs Group raised their target price on shares of Rockwell Automation from $257.00 to $290.00 and gave the stock a “sell” rating in a research note on Tuesday, February 11th. Robert W. Baird increased their price target on shares of Rockwell Automation from $305.00 to $315.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Finally, HSBC upgraded 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 report on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $300.63.

Rockwell Automation Stock Performance

Shares of ROK stock opened at $229.01 on Thursday. The company has a fifty day moving average price of $268.12 and a two-hundred day moving average price of $276.64. Rockwell Automation has a one year low of $215.00 and a one year high of $308.70. The stock has a market cap of $25.89 billion, a P/E ratio of 28.52, a P/E/G 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 (NYSE:ROK) last issued its earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.22. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. As a group, equities analysts predict that Rockwell Automation will post 9.35 EPS for the current year.

Rockwell Automation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.31 per share. The ex-dividend date is Monday, May 19th. This represents a $5.24 annualized dividend and a yield of 2.29%. Rockwell Automation’s dividend payout ratio is currently 65.26%.

Insider Buying and Selling at Rockwell Automation

In other news, SVP Tessa M. Myers sold 1,231 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $285.43, for a total value of $351,364.33. Following the sale, the senior vice president now directly owns 3,650 shares in the company, valued at approximately $1,041,819.50. This trade represents a 25.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Terry L. Riesterer sold 850 shares of Rockwell Automation stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $300.21, for a total transaction of $255,178.50. Following the sale, the vice president now directly owns 1,633 shares in the company, valued at $490,242.93. This trade represents a 34.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,750 shares of company stock valued at $1,075,923. 0.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Rockwell Automation

A number of hedge funds have recently added to or reduced their stakes in ROK. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Rockwell Automation by 0.9% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,775 shares of the industrial products company’s stock valued at $1,079,000 after acquiring an additional 33 shares in the last quarter. Whittier Trust Co. raised its position in Rockwell Automation by 1.9% in the fourth quarter. Whittier Trust Co. now owns 1,896 shares of the industrial products company’s stock valued at $542,000 after purchasing an additional 35 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of Rockwell Automation by 0.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company’s stock worth $1,199,000 after purchasing an additional 38 shares during the last quarter. Lake Street Advisors Group LLC increased its stake in shares of Rockwell Automation by 3.0% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,351 shares of the industrial products company’s stock valued at $386,000 after buying an additional 39 shares during the period. Finally, Fortitude Advisory Group L.L.C. raised its holdings in Rockwell Automation by 3.8% in the 4th quarter. Fortitude Advisory Group L.L.C. now owns 1,082 shares of the industrial products company’s stock valued at $309,000 after buying an additional 40 shares during the last quarter. 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.