Rockwell Automation (NYSE:ROK) Now Covered by BNP Paribas

BNP Paribas initiated coverage on shares of Rockwell Automation (NYSE:ROK) in a research note published on Wednesday morning, MarketBeat reports. The firm issued an outperform rating and a $345.00 target price on the industrial products company’s stock.

Several other brokerages also recently issued reports on ROK. Barclays upped their price target on shares of Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. JPMorgan Chase & Co. lowered their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. TD Cowen cut their price target on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Robert W. Baird upped their price objective on Rockwell Automation from $280.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company boosted their target price on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $285.13.

Rockwell Automation Price Performance

Shares of NYSE ROK traded down $2.52 during trading hours on Wednesday, hitting $284.05. 37,063 shares of the stock were exchanged, compared to its average volume of 876,926. Rockwell Automation has a 1-year low of $242.81 and a 1-year high of $312.76. The company has a market cap of $32.23 billion, a PE ratio of 34.61, a price-to-earnings-growth ratio of 2.86 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.17 and a current ratio of 1.84. The company’s fifty day simple moving average is $267.96 and its two-hundred day simple moving average is $266.69.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. The firm 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%. The business’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.64 earnings per share. On average, sell-side analysts predict that Rockwell Automation will post 9.54 EPS for the current year.

Rockwell Automation Increases Dividend

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

Rockwell Automation announced that its board has approved a stock repurchase program on Thursday, September 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the completion of the sale, the senior vice president now owns 4,576 shares of the company’s stock, valued at $1,221,151.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Pathway Financial Advisers LLC bought a new position in shares of Rockwell Automation during the first quarter valued at about $26,000. Richardson Financial Services Inc. increased its stake in Rockwell Automation by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after buying an additional 48 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Rockwell Automation during the 3rd quarter worth approximately $26,000. ESL Trust Services LLC purchased a new position in shares of Rockwell Automation in the 1st quarter worth approximately $29,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Rockwell Automation in the third quarter valued at approximately $34,000. 75.75% of the stock is 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.