Rockwell Automation (NYSE:ROK) Price Target Cut to $357.00 by Analysts at Barclays

Key Points

• Barclays has decreased its price target for Rockwell Automation stock from $370 to $357, indicating a potential upside of 6.10% from the current price.
• Other analysts have also adjusted their targets for Rockwell Automation, with Oppenheimer lowering its price objective to $363 and Wells Fargo increasing it to $365.
• Rockwell Automation reported a quarterly earnings per share of $2.82, exceeding expectations and showing a 4.5% increase in revenue compared to the previous year.

Rockwell Automation (NYSE:ROK - Free Report) had its price target trimmed by Barclays from $370.00 to $357.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the industrial products company's stock.

Other analysts have also issued reports about the stock. KeyCorp reiterated an "overweight" rating and issued a $380.00 price target (up from $370.00) on shares of Rockwell Automation in a research report on Thursday. Stephens reiterated an "overweight" rating and issued a $375.00 price target (up from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. Loop Capital increased their price target on shares of Rockwell Automation from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Thursday, May 15th. Citigroup reiterated a "buy" rating and issued a $392.00 price target (up from $371.00) on shares of Rockwell Automation in a research report on Monday, July 14th. Finally, BNP Paribas upgraded shares of Rockwell Automation from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $339.47.

Rockwell Automation Price Performance

Shares of ROK stock traded up $1.08 during trading hours on Thursday, hitting $333.67. The company's stock had a trading volume of 874,648 shares, compared to its average volume of 1,011,259. The business has a fifty day moving average of $336.92 and a 200-day moving average of $294.22. The stock has a market cap of $37.51 billion, a price-to-earnings ratio of 39.16, a P/E/G ratio of 3.38 and a beta of 1.39. Rockwell Automation has a twelve month low of $215.00 and a twelve month high of $360.92. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.67 by $0.15. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.71 earnings per share. As a group, equities research analysts anticipate that Rockwell Automation will post 9.35 EPS for the current year.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be paid a dividend of $1.31 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.6%. Rockwell Automation's dividend payout ratio (DPR) is currently 65.99%.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, SVP Matheus De A. G. Viera Bulho sold 939 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $304.24, for a total transaction of $285,681.36. Following the transaction, the senior vice president owned 983 shares of the company's stock, valued at $299,067.92. This trade represents a 48.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Tessa M. Myers sold 363 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $326.32, for a total transaction of $118,454.16. Following the transaction, the senior vice president directly owned 4,063 shares in the company, valued at approximately $1,325,838.16. This represents a 8.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,257 shares of company stock valued at $2,990,715 over the last 90 days. 0.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rockwell Automation

Large investors have recently bought and sold shares of the stock. Citizens National Bank Trust Department purchased a new position in shares of Rockwell Automation in the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Rockwell Automation in the 1st quarter valued at $31,000. IMA Advisory Services Inc. purchased a new position in shares of Rockwell Automation in the 1st quarter valued at $32,000. Cooksen Wealth LLC purchased a new position in shares of Rockwell Automation in the 1st quarter valued at $34,000. Finally, Parvin Asset Management LLC purchased a new position in shares of Rockwell Automation in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 75.75% of the company's stock.

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.