Rockwell Automation (NYSE:ROK) Price Target Raised to $365.00

Rockwell Automation (NYSE:ROK - Free Report) had its target price hoisted by Wells Fargo & Company from $315.00 to $365.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company's stock.

ROK has been the topic of a number of other reports. Oppenheimer upped their price objective on Rockwell Automation from $258.00 to $304.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Loop Capital lifted their price objective on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Thursday, May 15th. KeyCorp reissued an "overweight" rating and issued a $360.00 target price (up previously from $345.00) on shares of Rockwell Automation in a research note on Friday, June 13th. Barclays upgraded shares of Rockwell Automation from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $283.00 to $350.00 in a report on Friday, May 30th. Finally, BNP Paribas raised shares of Rockwell Automation from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $320.42.

Rockwell Automation Price Performance

NYSE ROK traded up $6.45 on Tuesday, reaching $338.62. 1,056,120 shares of the company's stock traded hands, compared to its average volume of 858,006. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.05 and a quick ratio of 0.72. Rockwell Automation has a 12 month low of $215.00 and a 12 month high of $339.78. The stock has a market cap of $38.17 billion, a PE ratio of 35.11, a P/E/G ratio of 3.84 and a beta of 1.38. The stock has a 50-day simple moving average of $299.95 and a 200 day simple moving average of $281.83.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share 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 30.16%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the firm earned $2.50 earnings per share. The firm's revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, research analysts predict that Rockwell Automation will post 9.35 earnings per share for the current year.

Rockwell Automation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be paid a $1.31 dividend. This represents a $5.24 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation's payout ratio is 65.99%.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, VP Isaac Woods sold 297 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $326.31, for a total value of $96,914.07. Following the completion of the transaction, the vice president owned 1,691 shares in the company, valued at approximately $551,790.21. This represents a 14.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the senior vice president directly owned 4,063 shares of the company's stock, valued at approximately $1,325,838.16. This represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,681 shares of company stock worth $2,382,987 in the last three months. Company insiders own 0.68% of the company's stock.

Institutional Investors Weigh In On Rockwell Automation

A number of institutional investors and hedge funds have recently made changes to their positions in ROK. Citizens National Bank Trust Department acquired a new stake in shares of Rockwell Automation in the first quarter valued at $26,000. Financial Gravity Asset Management Inc. acquired a new position in Rockwell Automation in the 1st quarter valued at about $31,000. IMA Advisory Services Inc. acquired a new stake in shares of Rockwell Automation during the first quarter worth about $32,000. Cooksen Wealth LLC purchased a new position in shares of Rockwell Automation in the first quarter valued at approximately $34,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Rockwell Automation in the fourth quarter valued at approximately $35,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

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.