Rockwell Automation (NYSE:ROK) Price Target Raised to $345.00

Rockwell Automation (NYSE:ROK) had its price objective increased by Morgan Stanley from $335.00 to $345.00 in a research report report published on Wednesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the industrial products company’s stock.

Other analysts have also issued research reports about the company. Oppenheimer upped their target price on Rockwell Automation from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Tuesday. HSBC raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 target price on the stock in a report on Wednesday, December 11th. Citigroup boosted their price target on shares of Rockwell Automation from $345.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays raised their price objective on Rockwell Automation from $285.00 to $300.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, The Goldman Sachs Group boosted their target price on Rockwell Automation from $257.00 to $290.00 and gave the company a “sell” rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $308.05.

Rockwell Automation Price Performance

Shares of NYSE:ROK opened at $294.81 on Wednesday. The company’s fifty day moving average price is $286.26 and its 200-day moving average price is $275.81. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 0.72. The firm has a market capitalization of $33.32 billion, a price-to-earnings ratio of 35.61, a PEG ratio of 2.89 and a beta of 1.35. Rockwell Automation has a one year low of $242.81 and a one year high of $308.70.

Rockwell Automation (NYSE:ROK) last released its earnings results on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. On average, equities research analysts anticipate that Rockwell Automation will post 9.32 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Tuesday, February 18th will be given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, February 18th. Rockwell Automation’s dividend payout ratio is currently 63.29%.

Insiders Place Their Bets

In other Rockwell Automation news, VP Isaac Woods sold 895 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $274.72, for a total value of $245,874.40. Following the completion of the transaction, the vice president now owns 1,198 shares in the company, valued at approximately $329,114.56. This represents a 42.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott Genereux sold 278 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $302.04, for a total transaction of $83,967.12. Following the sale, the vice president now owns 3,184 shares in the company, valued at approximately $961,695.36. This trade represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,707 shares of company stock worth $10,933,215 over the last three months. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ROK. Vanguard Group Inc. lifted its holdings in shares of Rockwell Automation by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 13,876,530 shares of the industrial products company’s stock valued at $3,965,774,000 after purchasing an additional 81,079 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Rockwell Automation by 6.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,115,280 shares of the industrial products company’s stock valued at $2,033,476,000 after purchasing an additional 432,934 shares in the last quarter. State Street Corp raised its holdings in 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 acquiring an additional 11,949 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Rockwell Automation by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 2,734,430 shares of the industrial products company’s stock worth $779,426,000 after purchasing an additional 51,228 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Rockwell Automation by 26.2% during the fourth quarter. Amundi now owns 2,073,594 shares of the industrial products company’s stock valued at $580,095,000 after purchasing an additional 430,498 shares in the last quarter. 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.