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.
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%.
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.
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2064840/rockwell-automation-rok-given-overweight-rating-at-barclays-plc.html
Receive News & Ratings for Rockwell Automation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Automation and related companies with MarketBeat.com's FREE daily email newsletter.