Rockwell Automation (NYSE:ROK) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Rockwell Automation (NYSE:ROK – Get Rating) in a research note released on Thursday morning. The brokerage issued a buy rating on the industrial products company’s stock.

A number of other analysts have also recently commented on ROK. Barclays upped their price target on shares of Rockwell Automation from $220.00 to $250.00 and gave the company an equal weight rating in a research report on Friday, January 27th. Bank of America cut shares of Rockwell Automation from a buy rating to a neutral rating in a research report on Monday, December 12th. Morgan Stanley reissued an overweight rating and set a $335.00 price objective on shares of Rockwell Automation in a research report on Tuesday, February 14th. Loop Capital increased their price objective on shares of Rockwell Automation from $258.00 to $285.00 in a research report on Tuesday, January 31st. Finally, Cowen raised their price target on shares of Rockwell Automation from $200.00 to $220.00 and gave the company an underperform rating in a research report on Monday, January 30th. Four 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 company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $263.24.

Rockwell Automation Trading Down 3.3 %

Shares of ROK stock opened at $272.71 on Thursday. The stock has a 50 day simple moving average of $286.98 and a 200 day simple moving average of $261.52. The company has a current ratio of 1.03, a quick ratio of 0.69 and a debt-to-equity ratio of 0.90. Rockwell Automation has a 1 year low of $190.08 and a 1 year high of $309.36. The stock has a market cap of $31.30 billion, a P/E ratio of 29.55, a price-to-earnings-growth ratio of 2.59 and a beta of 1.44.

Rockwell Automation (NYSE:ROK – Get Rating) last posted its quarterly earnings data on Thursday, January 26th. The industrial products company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.65. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.93 billion. Rockwell Automation had a return on equity of 38.70% and a net margin of 13.63%. Rockwell Automation’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.14 earnings per share. On average, research analysts predict that Rockwell Automation will post 11.22 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Tuesday, February 21st were issued a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, February 17th. Rockwell Automation’s dividend payout ratio is currently 51.14%.

Insider Transactions at Rockwell Automation

In related news, SVP Tessa M. Myers sold 4,534 shares of Rockwell Automation stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $290.49, for a total value of $1,317,081.66. Following the transaction, the senior vice president now owns 1,206 shares in the company, valued at approximately $350,330.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Rockwell Automation news, VP Scott Genereux sold 943 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $286.05, for a total value of $269,745.15. Following the transaction, the vice president now owns 3,876 shares in the company, valued at $1,108,729.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Tessa M. Myers sold 4,534 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $290.49, for a total transaction of $1,317,081.66. Following the completion of the transaction, the senior vice president now owns 1,206 shares in the company, valued at approximately $350,330.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,730 shares of company stock valued at $3,112,032. Insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Rockwell Automation

A number of hedge funds have recently modified their holdings of the company. New Hampshire Trust purchased a new position in shares of Rockwell Automation during the fourth quarter valued at about $26,000. MinichMacGregor Wealth Management LLC purchased a new position in shares of Rockwell Automation during the fourth quarter valued at about $27,000. Neo Ivy Capital Management purchased a new position in shares of Rockwell Automation during the second quarter valued at about $29,000. Clear Street Markets LLC purchased a new position in shares of Rockwell Automation during the fourth quarter valued at about $30,000. Finally, Delta Asset Management LLC TN purchased a new position in shares of Rockwell Automation during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 77.66% of the company’s stock.

About Rockwell Automation

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Rockwell Automation, Inc engages in the provision of industrial automation and information services. It operates through the following segments: Intelligent Devices, Software and Control, and Lifecycle Services. The Intelligent Devices segment combines a comprehensive portfolio of smart products that create the foundation of an agile, resilient, and sustainable production system.