Rockwell Automation (NYSE:ROK) Given New $316.00 Price Target at Citigroup

Rockwell Automation (NYSE:ROK) had its price target lowered by Citigroup from $322.00 to $316.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Several other research analysts have also commented on the company. Mizuho decreased their target price on Rockwell Automation from $265.00 to $260.00 and set a neutral rating for the company in a research report on Wednesday. Robert W. Baird dropped their price objective on shares of Rockwell Automation from $310.00 to $304.00 and set an outperform rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reissued an underweight rating and set a $254.00 target price on shares of Rockwell Automation in a research note on Thursday, March 21st. Wells Fargo & Company dropped their price target on shares of Rockwell Automation from $320.00 to $312.00 and set an overweight rating on the stock in a research note on Wednesday. Finally, Oppenheimer decreased their price objective on Rockwell Automation from $324.00 to $300.00 and set an outperform rating for the company in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Rockwell Automation currently has a consensus rating of Hold and a consensus target price of $307.93.

Rockwell Automation Stock Down 1.1 %

Shares of NYSE:ROK traded down $3.09 during midday trading on Wednesday, reaching $270.50. The company had a trading volume of 1,515,102 shares, compared to its average volume of 1,029,059. Rockwell Automation has a one year low of $252.11 and a one year high of $348.52. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.25 and a quick ratio of 0.80. The stock has a market capitalization of $31.00 billion, a P/E ratio of 25.74, a PEG ratio of 2.77 and a beta of 1.43. The stock’s fifty day moving average price is $281.65 and its 200-day moving average price is $283.04.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.35. Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the firm earned $3.01 EPS. The company’s revenue was down 6.6% on a year-over-year basis. Equities research analysts expect that Rockwell Automation will post 11.98 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 13th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.85%. Rockwell Automation’s dividend payout ratio (DPR) is 47.57%.

Insider Buying and Selling

In related news, VP Scott Genereux sold 500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $290.00, for a total transaction of $145,000.00. Following the completion of the sale, the vice president now directly owns 2,383 shares in the company, valued at $691,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Rockwell Automation news, CFO Nicholas C. Gangestad sold 1,989 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $288.17, for a total transaction of $573,170.13. Following the sale, the chief financial officer now owns 12,217 shares in the company, valued at approximately $3,520,572.89. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Scott Genereux sold 500 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $290.00, for a total transaction of $145,000.00. Following the completion of the transaction, the vice president now owns 2,383 shares of the company’s stock, valued at $691,070. The disclosure for this sale can be found here. Insiders have sold 17,240 shares of company stock worth $4,891,324 in the last ninety days. 0.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rockwell Automation

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROK. OFI Invest Asset Management purchased a new stake in Rockwell Automation in the 3rd quarter worth approximately $26,000. Provence Wealth Management Group purchased a new stake in shares of Rockwell Automation during the third quarter worth $27,000. Bruce G. Allen Investments LLC acquired a new stake in Rockwell Automation during the fourth quarter valued at $27,000. Riverview Trust Co acquired a new stake in Rockwell Automation during the first quarter valued at $28,000. Finally, Bfsg LLC purchased a new position in Rockwell Automation in the first quarter valued at about $29,000. 75.75% of the stock is currently 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.