Barclays started coverage on shares of Rockwell Automation (NYSE:ROK) in a research note published on Thursday morning, Marketbeat Ratings reports. The firm issued an equal weight rating and a $200.00 target price on the industrial products company’s stock.
Several other research firms also recently weighed in on ROK. UBS Group assumed coverage on shares of Rockwell Automation in a report on Monday, January 22nd. They set a buy rating on the stock. downgraded shares of Rockwell Automation from a hold rating to a reduce rating in a report on Thursday, November 2nd. Morgan Stanley increased their target price on shares of Rockwell Automation from $194.00 to $206.00 and gave the company an equal weight rating in a report on Thursday, January 25th. Wells Fargo & Co increased their target price on shares of Rockwell Automation from $190.00 to $200.00 and gave the company a market perform rating in a report on Thursday, January 25th. Finally, Citigroup lowered their target price on shares of Rockwell Automation from $214.00 to $209.00 and set a neutral rating for the company in a report on Thursday, January 25th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $185.00.
Rockwell Automation (ROK) opened at $185.56 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.73 and a current ratio of 1.98. Rockwell Automation has a 1-year low of $148.31 and a 1-year high of $210.72. The firm has a market cap of $23,710.00, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 2.09 and a beta of 1.17.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.22. Rockwell Automation had a net margin of 5.85% and a return on equity of 39.45%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company posted $1.75 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. equities analysts forecast that Rockwell Automation will post 7.79 EPS for the current year.
Rockwell Automation announced that its board has initiated a share repurchase program on Wednesday, January 24th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Tuesday, February 20th will be issued a dividend of $0.835 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $3.34 dividend on an annualized basis and a yield of 1.80%. Rockwell Automation’s dividend payout ratio (DPR) is presently 50.61%.
In related news, VP John M. Miller sold 4,431 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $187.77, for a total transaction of $832,008.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Frank C. Kulaszewicz sold 43,100 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $177.68, for a total transaction of $7,658,008.00. Following the sale, the senior vice president now owns 35,338 shares of the company’s stock, valued at approximately $6,278,855.84. The disclosure for this sale can be found here. Insiders have sold 118,397 shares of company stock valued at $22,666,808 in the last 90 days. 1.65% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ROK. Ameriprise Financial Inc. increased its holdings in Rockwell Automation by 47.2% during the third quarter. Ameriprise Financial Inc. now owns 1,558,748 shares of the industrial products company’s stock worth $277,788,000 after buying an additional 499,745 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in Rockwell Automation by 83.3% during the fourth quarter. UBS Asset Management Americas Inc. now owns 741,547 shares of the industrial products company’s stock worth $145,603,000 after buying an additional 336,883 shares during the last quarter. APG Asset Management N.V. increased its holdings in Rockwell Automation by 153.3% during the third quarter. APG Asset Management N.V. now owns 326,473 shares of the industrial products company’s stock worth $58,181,000 after buying an additional 197,600 shares during the last quarter. Schroder Investment Management Group increased its holdings in Rockwell Automation by 26.5% during the fourth quarter. Schroder Investment Management Group now owns 926,562 shares of the industrial products company’s stock worth $181,931,000 after buying an additional 193,854 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Rockwell Automation by 281.0% during the fourth quarter. Millennium Management LLC now owns 256,794 shares of the industrial products company’s stock worth $50,422,000 after buying an additional 189,397 shares during the last quarter. Institutional investors and hedge funds own 72.35% of the company’s stock.
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Rockwell Automation Company Profile
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
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