Rockwell Automation (NYSE:ROK) Given New $260.00 Price Target at Barclays

Rockwell Automation (NYSE:ROK) had its price objective reduced by Barclays from $265.00 to $260.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an underweight rating on the industrial products company’s stock.

A number of other research analysts have also issued reports on the company. Oppenheimer lowered their target price on Rockwell Automation from $324.00 to $300.00 and set an outperform rating on the stock in a report on Thursday, February 1st. Berenberg Bank restated a hold rating and issued a $290.00 target price (down from $330.00) on shares of Rockwell Automation in a report on Wednesday, March 6th. JPMorgan Chase & Co. reaffirmed an underweight rating and set a $254.00 target price on shares of Rockwell Automation in a report on Thursday, March 21st. Mizuho dropped their price target on Rockwell Automation from $265.00 to $260.00 and set a neutral rating on the stock in a research note on Wednesday. Finally, Robert W. Baird reduced their price objective on shares of Rockwell Automation from $310.00 to $304.00 and set an outperform rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation currently has a consensus rating of Hold and a consensus price target of $307.93.

Rockwell Automation Price Performance

Shares of ROK stock traded down $3.09 during midday trading on Wednesday, reaching $270.50. 1,515,102 shares of the company were exchanged, compared to its average volume of 1,029,059. The company’s 50 day moving average price is $281.65 and its two-hundred day moving average price is $283.04. The company has a market cap of $31.00 billion, a P/E ratio of 25.74, a PEG ratio of 2.77 and a beta of 1.43. Rockwell Automation has a 12 month low of $252.11 and a 12 month high of $348.52. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.25.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, May 8th. The industrial products company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.15 by $0.35. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.01 earnings per share. On average, sell-side analysts expect that Rockwell Automation will post 11.98 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 13th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, May 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.85%. Rockwell Automation’s dividend payout ratio (DPR) is currently 47.57%.

Insider Activity at Rockwell Automation

In related news, VP Scott Genereux sold 500 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $290.00, for a total value of $145,000.00. Following the sale, the vice president now owns 2,383 shares of the company’s stock, valued at approximately $691,070. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Isaac Woods sold 150 shares of the business’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 transaction, the vice president now directly owns 1,199 shares of the company’s stock, valued at approximately $344,820.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott Genereux sold 500 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $290.00, for a total value of $145,000.00. Following the sale, the vice president now directly owns 2,383 shares of the company’s stock, valued at $691,070. The disclosure for this sale can be found here. Insiders have sold a total of 17,240 shares of company stock valued at $4,891,324 over the last quarter. 0.68% of the stock is owned by company insiders.

Institutional Trading of Rockwell Automation

A number of hedge funds and other institutional investors have recently made changes to their positions in ROK. Bruce G. Allen Investments LLC bought a new stake in Rockwell Automation during the 4th quarter worth about $27,000. OFI Invest Asset Management acquired a new stake in Rockwell Automation during the 3rd quarter worth $26,000. Provence Wealth Management Group bought a new stake in shares of Rockwell Automation during the 3rd quarter valued at $27,000. Riverview Trust Co acquired a new stake in shares of Rockwell Automation during the first quarter worth $28,000. Finally, Bfsg LLC bought a new stake in Rockwell Automation in the first quarter valued at about $29,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.