Rockwell Automation (NYSE:ROK) Stock Rating Upgraded by UBS Group

UBS Group upgraded shares of Rockwell Automation (NYSE:ROK) to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Oppenheimer lifted their target price on shares of Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. BNP Paribas began coverage on Rockwell Automation in a report on Wednesday. They issued an “outperform” rating and a $345.00 price objective for the company. Morgan Stanley initiated coverage on Rockwell Automation in a research report on Friday, September 6th. They issued an “overweight” rating and a $320.00 target price on the stock. TD Cowen reduced their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Finally, Bank of America raised their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $286.13.

Rockwell Automation Stock Down 0.1 %

Shares of NYSE ROK opened at $286.15 on Tuesday. Rockwell Automation has a one year low of $242.81 and a one year high of $312.76. The stock has a market capitalization of $32.31 billion, a P/E ratio of 34.44, a PEG ratio of 2.98 and a beta of 1.36. The firm’s 50 day simple moving average is $268.55 and its two-hundred day simple moving average is $266.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 1.17.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period last year, the firm earned $3.64 earnings per share. Rockwell Automation’s quarterly revenue was down 20.6% on a year-over-year basis. As a group, analysts expect that Rockwell Automation will post 9.46 EPS for the current fiscal year.

Rockwell Automation announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.31 dividend. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation’s payout ratio is presently 60.39%.

Insider Activity

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $266.86, for a total value of $154,511.94. Following the completion of the transaction, the senior vice president now directly owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. The trade was a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of Rockwell Automation

A number of institutional investors have recently made changes to their positions in the company. CreativeOne Wealth LLC lifted its stake in shares of Rockwell Automation by 3.0% during the first quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock valued at $372,000 after buying an additional 37 shares during the period. Prospera Financial Services Inc increased its stake in Rockwell Automation by 0.9% during the third quarter. Prospera Financial Services Inc now owns 4,033 shares of the industrial products company’s stock valued at $1,083,000 after purchasing an additional 37 shares during the last quarter. Mather Group LLC. boosted its stake in Rockwell Automation by 5.9% in the second quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock valued at $198,000 after acquiring an additional 38 shares during the period. Pure Financial Advisors LLC boosted its holdings in shares of Rockwell Automation by 2.7% during the second quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock valued at $444,000 after acquiring an additional 42 shares during the period. Finally, Great Valley Advisor Group Inc. raised its stake in Rockwell Automation by 2.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 1,928 shares of the industrial products company’s stock valued at $518,000 after acquiring an additional 42 shares in the last quarter. 75.75% of the stock is 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.