Rockwell Automation (NYSE:ROK) Reaches New 12-Month High – What’s Next?

Rockwell Automation, Inc. (NYSE:ROK) reached a new 52-week high on Monday . The company traded as high as $327.15 and last traded at $326.75, with a volume of 198358 shares changing hands. The stock had previously closed at $324.33.

Analysts Set New Price Targets

ROK has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on Rockwell Automation from $335.00 to $345.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Barclays raised shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $283.00 to $350.00 in a research report on Friday, May 30th. TD Cowen raised shares of Rockwell Automation from a “sell” rating to a “hold” rating and set a $275.00 price target for the company in a report on Friday, May 9th. BNP Paribas raised shares of Rockwell Automation from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 9th. Finally, Robert W. Baird lifted their price target on shares of Rockwell Automation from $305.00 to $315.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $316.21.

Rockwell Automation Stock Up 0.9%

The stock has a market capitalization of $36.87 billion, a price-to-earnings ratio of 40.76, a price-to-earnings-growth ratio of 3.53 and a beta of 1.38. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.72. The business’s 50-day moving average is $270.57 and its two-hundred day moving average is $278.68.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.36. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the firm earned $2.50 earnings per share. The firm’s revenue was down 5.9% compared to the same quarter last year. Equities analysts anticipate that Rockwell Automation, Inc. 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. Investors of record on Monday, May 19th will be given a $1.31 dividend. The ex-dividend date is Monday, May 19th. This represents a $5.24 dividend on an annualized basis and a yield of 1.60%. Rockwell Automation’s payout ratio is currently 65.99%.

Insider Buying and Selling

In related news, SVP Matthew W. Fordenwalt sold 500 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $295.01, for a total value of $147,505.00. Following the transaction, the senior vice president now directly owns 2,838 shares of the company’s stock, valued at approximately $837,238.38. This trade represents a 14.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Matheus De A. G. Viera Bulho sold 293 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $257.68, for a total value of $75,500.24. Following the completion of the transaction, the senior vice president now directly owns 1,922 shares of the company’s stock, valued at approximately $495,260.96. This trade represents a 13.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,405 shares of company stock valued at $1,640,796. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROK. Brighton Jones LLC bought a new stake in shares of Rockwell Automation during the fourth quarter worth approximately $281,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Rockwell Automation by 27.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,496 shares of the industrial products company’s stock valued at $3,330,000 after acquiring an additional 2,472 shares during the last quarter. Bleakley Financial Group LLC raised its stake in Rockwell Automation by 5.7% during the fourth quarter. Bleakley Financial Group LLC now owns 3,353 shares of the industrial products company’s stock worth $958,000 after buying an additional 182 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Rockwell Automation during the fourth quarter valued at about $8,711,000. Finally, Apollon Wealth Management LLC boosted its position in Rockwell Automation by 17.4% during the fourth quarter. Apollon Wealth Management LLC now owns 3,613 shares of the industrial products company’s stock valued at $1,032,000 after buying an additional 535 shares during the period. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Company Profile

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.