Rockwell Automation (NYSE:ROK) Research Coverage Started at UBS Group

UBS Group assumed coverage on shares of Rockwell Automation (NYSE:ROK) in a report published on Wednesday, Marketbeat reports. The firm issued a neutral rating and a $313.00 price target on the industrial products company’s stock.

Several other equities analysts also recently commented on the stock. TD Cowen dropped 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 note on Thursday, August 8th. Oppenheimer upped their price target on Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Mizuho lifted their price objective on Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird boosted their price objective on Rockwell Automation from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company raised their target price on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rockwell Automation presently has an average rating of “Hold” and an average price target of $286.13.

Rockwell Automation Price Performance

ROK stock opened at $286.15 on Wednesday. The business’s fifty day moving average price is $269.16 and its 200 day moving average price is $266.87. Rockwell Automation has a 12-month low of $242.81 and a 12-month high of $312.76. The company has a current ratio of 1.08, a quick ratio of 1.17 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $32.31 billion, a PE ratio of 34.56, a P/E/G ratio of 2.98 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last issued its quarterly 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. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The business’s quarterly revenue was down 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.64 earnings per share. On average, sell-side analysts anticipate that Rockwell Automation will post 9.46 EPS for the current year.

Rockwell Automation declared that its Board of Directors has initiated a share buyback plan on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.31 dividend. This is a boost 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 is Monday, November 18th. Rockwell Automation’s dividend payout ratio (DPR) is currently 60.39%.

Insider Activity at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction on Monday, November 4th. The stock was sold at an average price of $266.86, for a total transaction 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 document filed with the SEC, which can be accessed through this link. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ROK. Price T Rowe Associates Inc. MD grew its holdings in Rockwell Automation by 951.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock valued at $1,611,915,000 after buying an additional 5,006,706 shares during the last quarter. Accredited Investors Inc. lifted its holdings in Rockwell Automation by 162,058.5% in the 3rd quarter. Accredited Investors Inc. now owns 1,185,379 shares of the industrial products company’s stock valued at $318,227,000 after purchasing an additional 1,184,648 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Rockwell Automation by 29,591.7% during the 3rd quarter. International Assets Investment Management LLC now owns 936,178 shares of the industrial products company’s stock worth $251,326,000 after purchasing an additional 933,025 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Rockwell Automation by 1,119.3% during the second quarter. Van ECK Associates Corp now owns 763,351 shares of the industrial products company’s stock worth $210,135,000 after buying an additional 700,745 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Rockwell Automation by 3.2% in the first quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company’s stock valued at $4,092,891,000 after buying an additional 438,356 shares during the last quarter. Institutional investors and hedge funds 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.