Barclays Initiates Coverage on Rockwell Automation (ROK)

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.

Analyst Recommendations for Rockwell Automation (NYSE:ROK)

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