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

Rockwell Automation, Inc. (NYSE:ROK - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $327.15 and last traded at $326.75, with a volume of 198358 shares. The stock had previously closed at $324.33.

Wall Street Analyst Weigh In

ROK has been the subject of several recent analyst reports. Loop Capital lifted their target price on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. lifted their target price on shares of Rockwell Automation from $271.00 to $299.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. The Goldman Sachs Group lifted their target price on shares of Rockwell Automation from $257.00 to $290.00 and gave the stock a "sell" rating in a report on Tuesday, February 11th. Oppenheimer lifted their target price on shares of Rockwell Automation from $258.00 to $304.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Citigroup lifted their target price on shares of Rockwell Automation from $327.00 to $371.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Rockwell Automation presently has a consensus rating of "Moderate Buy" and an average target price of $316.21.

Rockwell Automation Trading Up 0.3%

The firm has a market capitalization of $36.66 billion, a PE ratio of 40.51, a PEG ratio of 3.53 and a beta of 1.38. 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 stock's fifty day simple moving average is $273.56 and its 200 day simple moving average is $279.24.

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, beating analysts' consensus estimates of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. The business had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same period in the prior year, the company earned $2.50 earnings per share. The firm's revenue was down 5.9% on a year-over-year basis. On average, sell-side analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.31 dividend. The ex-dividend date is Monday, May 19th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.61%. Rockwell Automation's dividend payout ratio (DPR) is presently 65.99%.

Insider Transactions at Rockwell Automation

In other news, SVP Tessa M. Myers sold 363 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $326.32, for a total value of $118,454.16. Following the completion of the sale, the senior vice president now directly owns 4,063 shares of the company's stock, valued at $1,325,838.16. This represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Matthew W. Fordenwalt sold 223 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $313.97, for a total transaction of $70,015.31. Following the transaction, the senior vice president now owns 3,209 shares of the company's stock, valued at approximately $1,007,529.73. This represents a 6.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,155 shares of company stock valued at $2,211,853 over the last three months. Corporate insiders own 0.68% of the company's stock.

Hedge Funds Weigh In On Rockwell Automation

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. eCIO Inc. bought a new position in shares of Rockwell Automation during the first quarter worth $76,000. Militia Capital Partners LP bought a new position in shares of Rockwell Automation during the first quarter worth $181,000. Foresight Group Ltd Liability Partnership bought a new position in shares of Rockwell Automation during the first quarter worth $9,240,000. Addison Capital Co boosted its position in shares of Rockwell Automation by 6.1% during the first quarter. Addison Capital Co now owns 3,475 shares of the industrial products company's stock worth $898,000 after acquiring an additional 201 shares during the last quarter. Finally, Jacobi Capital Management LLC boosted its position in shares of Rockwell Automation by 6.7% during the first quarter. Jacobi Capital Management LLC now owns 1,127 shares of the industrial products company's stock worth $291,000 after acquiring an additional 71 shares during the last quarter. Institutional investors own 75.75% of the company's stock.

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.