Citigroup Cuts Rockwell Automation (NYSE:ROK) Price Target to $316.00

Rockwell Automation (NYSE:ROK - Free Report) had its price target trimmed by Citigroup from $322.00 to $316.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the industrial products company's stock.

ROK has been the topic of several other research reports. Robert W. Baird dropped their target price on shares of Rockwell Automation from $310.00 to $304.00 and set an outperform rating on the stock in a research report on Wednesday. Oppenheimer decreased their target price on Rockwell Automation from $324.00 to $300.00 and set an outperform rating for the company in a research report on Thursday, February 1st. JPMorgan Chase & Co. reissued an underweight rating and issued a $254.00 price target on shares of Rockwell Automation in a report on Thursday, March 21st. Wells Fargo & Company decreased their price objective on shares of Rockwell Automation from $320.00 to $312.00 and set an overweight rating for the company in a report on Wednesday. Finally, Barclays dropped their target price on shares of Rockwell Automation from $265.00 to $260.00 and set an underweight rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $307.93.

Rockwell Automation Stock Up 0.6 %

Shares of Rockwell Automation stock traded up $1.50 on Wednesday, hitting $273.54. The company had a trading volume of 1,355,362 shares, compared to its average volume of 1,023,598. The stock has a market capitalization of $31.34 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 2.77 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.25. Rockwell Automation has a 1 year low of $252.11 and a 1 year high of $348.52. The stock has a 50 day moving average of $281.90 and a 200-day moving average of $283.11.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.35. The business had revenue of $2.13 billion for the quarter, compared to analysts' expectations of $2.05 billion. Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. The business's revenue was down 6.6% on a year-over-year basis. During the same period last year, the business earned $3.01 EPS. As a group, sell-side analysts forecast that Rockwell Automation will post 11.98 earnings per share for the current year.

Rockwell Automation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 13th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $5.00 annualized dividend and a yield of 1.83%. Rockwell Automation's dividend payout ratio is currently 47.57%.

Insider Activity

In other news, CEO Blake D. Moret acquired 3,500 shares of Rockwell Automation stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average price of $283.64 per share, with a total value of $992,740.00. Following the completion of the purchase, the chief executive officer now owns 77,215 shares in the company, valued at $21,901,262.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Isaac Woods sold 150 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $287.59, for a total value of $43,138.50. Following the transaction, the vice president now directly owns 1,199 shares in the company, valued at $344,820.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Blake D. Moret bought 3,500 shares of the business's stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average price of $283.64 per share, with a total value of $992,740.00. Following the completion of the transaction, the chief executive officer now directly owns 77,215 shares of the company's stock, valued at approximately $21,901,262.60. The disclosure for this purchase can be found here. Insiders have sold a total of 17,240 shares of company stock worth $4,891,324 over the last ninety days. Company insiders own 0.68% of the company's stock.

Hedge Funds Weigh In On Rockwell Automation

A number of large investors have recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in Rockwell Automation in the third quarter worth $26,000. Provence Wealth Management Group purchased a new stake in Rockwell Automation during the 3rd quarter valued at about $27,000. Bruce G. Allen Investments LLC bought a new position in Rockwell Automation during the 4th quarter worth approximately $27,000. Riverview Trust Co purchased a new position in Rockwell Automation in the 1st quarter worth approximately $28,000. Finally, Bfsg LLC purchased a new stake in shares of Rockwell Automation during the first quarter valued at approximately $29,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

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.