Rockwell Automation (NYSE:ROK) PT Raised to $269.00 at Barclays


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Rockwell Automation (NYSE:ROK) had its target price upped by Barclays from $265.00 to $269.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

A number of other equities analysts have also weighed in on ROK. Deutsche Bank Aktiengesellschaft upped their price objective on Rockwell Automation from $242.00 to $268.00 and gave the stock a hold rating in a research note on Tuesday. Morgan Stanley increased their price target on Rockwell Automation from $291.00 to $300.00 and gave the company an overweight rating in a research note on Monday, March 29th. Credit Suisse Group dropped their price target on Rockwell Automation from $254.00 to $248.00 and set a neutral rating for the company in a research note on Wednesday, January 27th. Citigroup reduced their price objective on Rockwell Automation from $297.00 to $291.00 in a report on Wednesday, January 27th. Finally, Rosenblatt Securities reduced their price objective on Rockwell Automation from $245.00 to $240.00 and set a neutral rating on the stock in a report on Wednesday, January 27th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $250.71.

NYSE ROK opened at $265.85 on Tuesday. The firm has a market cap of $30.88 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 3.26 and a beta of 1.37. The company has a quick ratio of 1.16, a current ratio of 1.48 and a debt-to-equity ratio of 1.47. The business has a 50-day moving average price of $260.31 and a 200-day moving average price of $250.47. Rockwell Automation has a twelve month low of $154.85 and a twelve month high of $275.43.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Monday, January 25th. The industrial products company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.49. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.61 billion. Rockwell Automation had a return on equity of 81.39% and a net margin of 16.17%. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.11 earnings per share. Research analysts expect that Rockwell Automation will post 8.65 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Shareholders of record on Monday, May 17th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, May 14th. This represents a $4.28 annualized dividend and a yield of 1.61%. Rockwell Automation’s dividend payout ratio (DPR) is presently 55.73%.

In other news, SVP Frank C. Kulaszewicz sold 3,900 shares of the firm’s stock in a transaction on Friday, January 29th. The stock was sold at an average price of $255.06, for a total value of $994,734.00. Following the completion of the sale, the senior vice president now owns 23,917 shares of the company’s stock, valued at approximately $6,100,270.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Blake D. Moret sold 16,900 shares of the firm’s stock in a transaction on Thursday, January 21st. The stock was sold at an average price of $268.08, for a total value of $4,530,552.00. Following the completion of the sale, the chief executive officer now directly owns 65,785 shares of the company’s stock, valued at approximately $17,635,642.80. The disclosure for this sale can be found here. Insiders sold a total of 22,200 shares of company stock valued at $5,873,278 in the last three months. Insiders own 0.79% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Rockwell Automation by 2.6% during the 4th quarter. BlackRock Inc. now owns 8,650,528 shares of the industrial products company’s stock worth $2,169,639,000 after acquiring an additional 215,175 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Rockwell Automation by 6.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,437,253 shares of the industrial products company’s stock valued at $360,477,000 after purchasing an additional 82,791 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Rockwell Automation by 6.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,193,398 shares of the industrial products company’s stock valued at $299,315,000 after purchasing an additional 74,043 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Rockwell Automation by 5.7% in the 4th quarter. UBS Asset Management Americas Inc. now owns 945,790 shares of the industrial products company’s stock valued at $237,214,000 after purchasing an additional 51,350 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Rockwell Automation in the 4th quarter valued at about $230,672,000. 76.21% of the stock is owned by institutional investors.

About Rockwell Automation

Rockwell Automation, Inc provides industrial automation and digital transformation solutions. The company operates in two segments, Architecture & Software, and Control Products & Solutions. The Architecture & Software segment offers a portfolio of automation and information platforms, including hardware and software.

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Analyst Recommendations for Rockwell Automation (NYSE:ROK)

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