Rockwell Automation, Inc. (NYSE:ROK) Given Consensus Recommendation of “Hold” by Analysts

Rockwell Automation, Inc. (NYSE:ROK) has received a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $281.93.

Several equities analysts recently issued reports on ROK shares. TD Cowen lowered their price objective on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company upped their price target on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Mizuho lifted their price objective on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Bank of America boosted their target price on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird dropped their price target on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th.

Rockwell Automation Stock Performance

Rockwell Automation stock opened at $269.20 on Wednesday. Rockwell Automation has a twelve month low of $242.81 and a twelve month high of $312.76. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $30.55 billion, a P/E ratio of 30.59, a PEG ratio of 4.68 and a beta of 1.36. The stock’s 50 day moving average is $266.07 and its 200 day moving average is $266.44.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.63. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. Rockwell Automation’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.01 EPS. On average, equities research analysts predict that Rockwell Automation will post 9.65 earnings per share for the current fiscal 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 given a dividend of $1.31 per share. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, November 18th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.95%. Rockwell Automation’s payout ratio is presently 56.82%.

Rockwell Automation declared that its Board of Directors has initiated a share buyback plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management 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 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 sale, the senior vice president now directly owns 4,576 shares in the company, valued at $1,221,151.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.68% of the company’s stock.

Institutional Trading of Rockwell Automation

Several institutional investors have recently made changes to their positions in ROK. Pathway Financial Advisers LLC bought a new stake in Rockwell Automation in the 1st quarter valued at $26,000. Richardson Financial Services Inc. lifted its position in shares of Rockwell Automation by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after buying an additional 48 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Rockwell Automation during the third quarter valued at approximately $26,000. ESL Trust Services LLC purchased a new position in Rockwell Automation during the 1st quarter valued at approximately $29,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Rockwell Automation in the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

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.