Rockwell Automation (NYSE:ROK) Reaches New 12-Month High - Here's Why

Rockwell Automation, Inc. (NYSE:ROK - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $311.94 and last traded at $311.48, with a volume of 208201 shares traded. The stock had previously closed at $305.54.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ROK. BNP Paribas upgraded Rockwell Automation from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 9th. Wells Fargo & Company increased their price objective on shares of Rockwell Automation from $265.00 to $315.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. KeyCorp boosted their price target on Rockwell Automation from $275.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Oppenheimer upped their target price on Rockwell Automation from $258.00 to $304.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, Loop Capital upped their price target on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $310.37.

Rockwell Automation Trading Up 2.2%

The firm has a market capitalization of $35.20 billion, a price-to-earnings ratio of 38.87, a price-to-earnings-growth ratio of 3.53 and a beta of 1.32. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.72. The firm's 50 day moving average is $260.92 and its 200 day moving average is $276.45.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same period last year, the company posted $2.50 earnings per share. The business's revenue for the quarter was down 5.9% on a year-over-year basis. Equities analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a dividend of $1.31 per share. The ex-dividend date is Monday, May 19th. This represents a $5.24 annualized dividend and a yield of 1.68%. Rockwell Automation's dividend payout ratio (DPR) is presently 65.99%.

Insider Transactions at Rockwell Automation

In related news, VP Terry L. Riesterer sold 2,500 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $304.13, for a total value of $760,325.00. Following the transaction, the vice president now owns 1,033 shares in the company, valued at approximately $314,166.29. This represents a 70.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Tessa M. Myers sold 1,231 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $285.43, for a total transaction of $351,364.33. Following the transaction, the senior vice president now directly owns 3,650 shares in the company, valued at approximately $1,041,819.50. The trade was a 25.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,839 shares of company stock valued at $2,014,256 over the last three months. 0.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Brighton Jones LLC acquired a new position in Rockwell Automation during the fourth quarter worth $281,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Rockwell Automation by 25.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,117 shares of the industrial products company's stock worth $1,748,000 after acquiring an additional 1,238 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Rockwell Automation by 181.6% during the 4th quarter. Blue Trust Inc. now owns 2,095 shares of the industrial products company's stock valued at $562,000 after acquiring an additional 1,351 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Rockwell Automation in the 4th quarter valued at approximately $3,351,000. Finally, KBC Group NV lifted its holdings in Rockwell Automation by 5.3% in the 4th quarter. KBC Group NV now owns 23,221 shares of the industrial products company's stock worth $6,637,000 after purchasing an additional 1,167 shares during the last quarter. Institutional investors and hedge funds 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.

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