Rockwell Automation (NYSE:ROK) Hits New 1-Year High After Analyst Upgrade

Shares of Rockwell Automation, Inc. (NYSE:ROK - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday after Oppenheimer raised their price target on the stock from $304.00 to $371.00. Oppenheimer currently has an outperform rating on the stock. Rockwell Automation traded as high as $351.07 and last traded at $346.64, with a volume of 979576 shares. The stock had previously closed at $343.17.

ROK has been the subject of several other research reports. KeyCorp raised their price target on Rockwell Automation from $360.00 to $370.00 and gave the stock an "overweight" rating in a research report on Tuesday. Wells Fargo & Company raised their price target on Rockwell Automation from $315.00 to $365.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Loop Capital raised their price target on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Thursday, May 15th. Stephens reissued an "overweight" rating and set a $375.00 price target (up previously from $350.00) on shares of Rockwell Automation in a research report on Wednesday. Finally, Bank of America raised Rockwell Automation from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $360.00 to $410.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $341.11.

Insiders Place Their Bets

In related news, SVP Matthew W. Fordenwalt sold 500 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $320.02, for a total transaction of $160,010.00. Following the completion of the sale, the senior vice president directly owned 2,709 shares in the company, valued at approximately $866,934.18. This trade represents a 15.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Terry L. Riesterer sold 2,500 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $304.13, for a total transaction of $760,325.00. Following the transaction, the vice president directly owned 1,033 shares in the company, valued at $314,166.29. The trade was a 70.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,757 shares of company stock worth $3,138,220. 0.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rockwell Automation

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Citizens National Bank Trust Department bought a new position in Rockwell Automation during the first quarter worth about $26,000. Legend Financial Advisors Inc. bought a new position in shares of Rockwell Automation in the second quarter valued at approximately $39,000. Financial Gravity Asset Management Inc. bought a new position in shares of Rockwell Automation in the first quarter valued at approximately $31,000. IMA Advisory Services Inc. bought a new position in shares of Rockwell Automation in the first quarter valued at approximately $32,000. Finally, Parvin Asset Management LLC bought a new position in shares of Rockwell Automation in the fourth quarter valued at approximately $36,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Stock Up 0.5%

The company has a debt-to-equity ratio of 0.71, a current ratio of 1.05 and a quick ratio of 0.72. The business's 50 day moving average price is $323.60 and its 200-day moving average price is $286.79. The company has a market cap of $40.38 billion, a P/E ratio of 45.21, a PEG ratio of 3.95 and a beta of 1.38.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.36. The firm had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. Rockwell Automation's revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.50 EPS. On average, analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be paid a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation's payout ratio is presently 65.99%.

Rockwell Automation Company Profile

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.