Barclays PLC Increases Rockwell Automation (ROK) Price Target to $167.00

Rockwell Automation (NYSE:ROK) had its target price upped by investment analysts at Barclays PLC from $166.00 to $167.00 in a research note issued on Wednesday. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Barclays PLC’s target price suggests a potential upside of 8.57% from the company’s previous close.

Several other equities research analysts have also commented on ROK. Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $171.00 price objective on the stock in a research report on Friday, January 27th. Berenberg Bank reiterated a “sell” rating and issued a $125.00 price objective on shares of Rockwell Automation in a research report on Wednesday, February 22nd. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Rockwell Automation in a report on Wednesday, January 25th. Buckingham Research upgraded shares of Rockwell Automation from a “neutral” rating to a “buy” rating and set a $162.00 target price on the stock in a report on Friday, January 20th. Finally, Credit Suisse Group AG restated a “hold” rating and issued a $145.00 target price on shares of Rockwell Automation in a report on Thursday, March 30th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $134.14.

Analyst Recommendations for Rockwell Automation (NYSE:ROK)

Rockwell Automation (NYSE:ROK) traded up 2.83% during trading on Wednesday, reaching $153.82. 1,474,912 shares of the company’s stock traded hands. The stock has a market cap of $19.78 billion, a P/E ratio of 26.48 and a beta of 1.07. The firm’s 50 day moving average price is $153.90 and its 200-day moving average price is $139.78. Rockwell Automation has a one year low of $107.17 and a one year high of $159.78.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, January 25th. The industrial products company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.45 by $0.30. Rockwell Automation had a net margin of 12.77% and a return on equity of 38.57%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the firm earned $1.49 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts anticipate that Rockwell Automation will post $6.29 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Monday, May 15th will be issued a dividend of $0.76 per share. The ex-dividend date is Thursday, May 11th. This represents a $3.04 annualized dividend and a dividend yield of 1.98%. Rockwell Automation’s payout ratio is currently 52.23%.

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In other news, CFO Theodore D. Crandall sold 24,400 shares of the stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $150.43, for a total transaction of $3,670,492.00. Following the transaction, the chief financial officer now directly owns 120,163 shares in the company, valued at approximately $18,076,120.09. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Douglas M. Hagerman sold 1,071 shares of the stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $148.51, for a total transaction of $159,054.21. Following the transaction, the vice president now owns 6,459 shares in the company, valued at $959,226.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 346,904 shares of company stock worth $52,562,126. Insiders own 1.65% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Rockwell Automation during the fourth quarter valued at $201,190,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Rockwell Automation during the fourth quarter valued at $76,184,000. Congress Asset Management Co. MA bought a new position in shares of Rockwell Automation during the fourth quarter valued at $59,311,000. Alyeska Investment Group L.P. bought a new position in shares of Rockwell Automation during the fourth quarter valued at $49,163,000. Finally, Columbus Circle Investors bought a new position in shares of Rockwell Automation during the first quarter valued at $50,905,000. Institutional investors and hedge funds own 72.56% of the company’s stock.

About Rockwell Automation

Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.

5 Day Chart for NYSE:ROK

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