Rockwell Automation (NYSE:ROK) PT Lowered to $260.00 at Mizuho

Rockwell Automation (NYSE:ROK) had its price target reduced by Mizuho from $265.00 to $260.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Several other analysts have also weighed in on the company. Berenberg Bank reissued a hold rating and issued a $290.00 price objective (down from $330.00) on shares of Rockwell Automation in a report on Wednesday, March 6th. Barclays dropped their price target on Rockwell Automation from $269.00 to $265.00 and set an underweight rating on the stock in a research report on Tuesday, April 2nd. Citigroup decreased their price objective on shares of Rockwell Automation from $330.00 to $322.00 and set a buy rating for the company in a report on Monday, April 8th. Wells Fargo & Company dropped their target price on shares of Rockwell Automation from $357.00 to $320.00 and set an overweight rating on the stock in a report on Thursday, February 1st. Finally, Oppenheimer decreased their price target on shares of Rockwell Automation from $324.00 to $300.00 and set an outperform rating for the company in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $307.93.

Rockwell Automation Stock Performance

Rockwell Automation stock opened at $273.54 on Wednesday. Rockwell Automation has a 52 week low of $252.11 and a 52 week high of $348.52. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The stock has a market cap of $31.34 billion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 2.77 and a beta of 1.43. The stock has a 50 day moving average of $281.90 and a 200-day moving average of $283.11.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.35. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.05 billion. Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.01 EPS. On average, analysts expect that Rockwell Automation will post 11.98 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 13th will be paid a $1.25 dividend. The ex-dividend date is Friday, May 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.83%. Rockwell Automation’s payout ratio is currently 47.57%.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, CEO Blake D. Moret purchased 3,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was bought at an average price of $283.64 per share, with a total value of $992,740.00. Following the completion of the purchase, the chief executive officer now owns 77,215 shares in the company, valued at approximately $21,901,262.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Rockwell Automation news, VP Isaac Woods sold 150 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $287.59, for a total value of $43,138.50. Following the completion of the sale, the vice president now directly owns 1,199 shares in the company, valued at $344,820.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Blake D. Moret purchased 3,500 shares of the stock in a transaction dated Monday, February 12th. The shares were purchased at an average price of $283.64 per share, for a total transaction of $992,740.00. Following the completion of the transaction, the chief executive officer now owns 77,215 shares in the company, valued at approximately $21,901,262.60. The disclosure for this purchase can be found here. Over the last three months, insiders sold 17,240 shares of company stock worth $4,891,324. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ROK. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Rockwell Automation by 11.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 36,383 shares of the industrial products company’s stock valued at $10,401,000 after buying an additional 3,846 shares in the last quarter. Brighton Jones LLC acquired a new stake in shares of Rockwell Automation during the third quarter worth $213,000. IFM Investors Pty Ltd lifted its holdings in shares of Rockwell Automation by 5.3% during the third quarter. IFM Investors Pty Ltd now owns 22,552 shares of the industrial products company’s stock valued at $6,447,000 after purchasing an additional 1,138 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of Rockwell Automation in the 3rd quarter valued at $493,000. Finally, CENTRAL TRUST Co increased its stake in Rockwell Automation by 74.0% in the 3rd quarter. CENTRAL TRUST Co now owns 1,413 shares of the industrial products company’s stock worth $404,000 after purchasing an additional 601 shares in the last quarter. Institutional investors 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.