Rockwell Automation (NYSE:ROK) Sets New 1-Year High - Should You Buy?

Rockwell Automation, Inc. (NYSE:ROK - Get Free Report)'s share price reached 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 changing hands. The stock had previously closed at $326.21.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price 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. TD Cowen upgraded shares of Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 price target on the stock in a research report on Friday, May 9th. KeyCorp reaffirmed an "overweight" rating and set a $360.00 price objective (up previously from $345.00) on shares of Rockwell Automation in a report on Friday, June 13th. Citigroup increased their target price on Rockwell Automation from $327.00 to $371.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, JPMorgan Chase & Co. increased 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $317.79.

Rockwell Automation Stock Performance

The stock has a market capitalization of $37.44 billion, a P/E ratio of 41.83, a price-to-earnings-growth ratio of 3.83 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 company has a 50-day moving average price of $297.84 and a two-hundred day moving average price of $281.59.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.97 billion. Rockwell Automation had a return on equity of 30.16% and a net margin of 11.38%. The company's revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 EPS. On average, 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 Wednesday, September 10th. Stockholders of record on Monday, August 18th will be given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Monday, August 18th. Rockwell Automation's payout ratio is presently 65.99%.

Insider Activity at Rockwell Automation

In other news, SVP Matthew W. Fordenwalt sold 500 shares of the firm's 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 of the company's stock, valued at $866,934.18. This trade represents a 15.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Matheus De A. G. Viera Bulho sold 939 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $304.24, for a total value of $285,681.36. Following the completion of the sale, the senior vice president directly owned 983 shares of the company's stock, valued at $299,067.92. This represents a 48.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,681 shares of company stock valued at $2,382,987 over the last 90 days. Corporate insiders own 0.68% of the company's stock.

Institutional Trading of Rockwell Automation

Institutional investors have recently added to or reduced their stakes in the stock. Citizens National Bank Trust Department bought a new position in shares of Rockwell Automation in the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. bought a new position in Rockwell Automation in the 1st quarter worth about $31,000. SBI Securities Co. Ltd. bought a new position in shares of Rockwell Automation in the fourth quarter worth approximately $35,000. IMA Advisory Services Inc. bought a new stake in Rockwell Automation during the first quarter valued at approximately $32,000. Finally, Parvin Asset Management LLC bought a new position in shares of Rockwell Automation in the 4th quarter worth $36,000. Hedge funds and other institutional investors 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.