Rockwell Automation (NYSE:ROK) Reaches New 52-Week High - Time to Buy?

Shares of Rockwell Automation, Inc. (NYSE:ROK - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $329.00 and last traded at $327.19, with a volume of 16255 shares traded. The stock had previously closed at $326.21.

Analyst Upgrades and Downgrades

ROK has been the topic of several research analyst reports. KeyCorp reissued an "overweight" rating and set a $360.00 target price (up from $345.00) on shares of Rockwell Automation in a research note on Friday, June 13th. Barclays upgraded Rockwell Automation from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $283.00 to $350.00 in a report on Friday, May 30th. JPMorgan Chase & Co. raised their price objective on Rockwell Automation from $271.00 to $299.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Loop Capital upped their target price on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Thursday, May 15th. Finally, Wells Fargo & Company lifted their price target on shares of Rockwell Automation from $265.00 to $315.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $317.79.

Rockwell Automation Trading Up 0.3%

The stock has a market capitalization of $36.90 billion, a PE ratio of 41.37, a price-to-earnings-growth ratio of 3.74 and a beta of 1.38. The company has a current ratio of 1.05, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average price of $295.87 and a 200-day moving average price of $281.59.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.09 by $0.36. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. The firm's quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.50 earnings per share. As a group, equities analysts forecast that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be given a dividend of $1.31 per share. The ex-dividend date is Monday, August 18th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.60%. Rockwell Automation's dividend payout ratio is presently 65.99%.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, SVP Matthew W. Fordenwalt sold 223 shares of the 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 sale, the senior vice president now owns 3,209 shares in the company, valued at $1,007,529.73. This represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Matheus De A. G. Viera Bulho sold 526 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total value of $171,134.10. Following the sale, the senior vice president now directly owns 983 shares in the company, valued at $319,819.05. This trade represents a 34.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,681 shares of company stock worth $2,382,987. Company insiders own 0.68% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in Rockwell Automation during the fourth quarter valued at $281,000. Bank Pictet & Cie Europe AG boosted its position in shares of Rockwell Automation by 0.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company's stock valued at $1,199,000 after acquiring an additional 38 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of Rockwell Automation by 3.0% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,351 shares of the industrial products company's stock worth $386,000 after purchasing an additional 39 shares in the last quarter. Advisor OS LLC purchased a new position in shares of Rockwell Automation during the fourth quarter worth about $230,000. Finally, Nwam LLC increased its position in shares of Rockwell Automation by 189.0% in the fourth quarter. Nwam LLC now owns 3,017 shares of the industrial products company's stock worth $862,000 after purchasing an additional 1,973 shares during the last quarter. 75.75% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.