Rockwell Automation (NYSE:ROK) Price Target Cut to $292.00

Rockwell Automation (NYSE:ROKGet Rating) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $318.00 to $292.00 in a research note released on Thursday morning, The Fly reports. The brokerage currently has a hold rating on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the company. Citigroup decreased their price target on Rockwell Automation from $400.00 to $381.00 in a research note on Friday, January 28th. Sanford C. Bernstein started coverage on Rockwell Automation in a research note on Monday, January 10th. They set an outperform rating and a $378.00 target price for the company. Morgan Stanley decreased their target price on Rockwell Automation from $395.00 to $360.00 and set an overweight rating for the company in a research note on Thursday, April 7th. JPMorgan Chase & Co. decreased their target price on Rockwell Automation from $225.00 to $220.00 in a research note on Friday, January 28th. Finally, Barclays decreased their target price on Rockwell Automation from $318.00 to $300.00 and set an equal weight rating for the company in a research note on Monday, April 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $316.06.

ROK stock opened at $261.66 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 1.24. The firm has a market cap of $30.40 billion, a P/E ratio of 30.50, a P/E/G ratio of 2.67 and a beta of 1.44. Rockwell Automation has a 12-month low of $250.65 and a 12-month high of $354.99. The stock’s 50 day simple moving average is $270.55 and its 200 day simple moving average is $306.46.

Rockwell Automation (NYSE:ROKGet Rating) last issued its quarterly earnings data on Thursday, January 27th. The industrial products company reported $2.14 EPS for the quarter, topping the Zacks’ consensus estimate of $2.00 by $0.14. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Rockwell Automation had a return on equity of 42.24% and a net margin of 13.81%. The firm’s revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.38 EPS. On average, research analysts forecast that Rockwell Automation will post 10.62 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Monday, May 16th will be given a dividend of $1.12 per share. The ex-dividend date is Friday, May 13th. This represents a $4.48 annualized dividend and a dividend yield of 1.71%. Rockwell Automation’s dividend payout ratio (DPR) is presently 52.21%.

In related news, VP Brian A. Shepherd sold 621 shares of the firm’s stock in a transaction that occurred on Wednesday, February 2nd. The stock was sold at an average price of $294.22, for a total transaction of $182,710.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.68% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ROK. Capital World Investors increased its stake in shares of Rockwell Automation by 35.2% in the 4th quarter. Capital World Investors now owns 4,892,850 shares of the industrial products company’s stock valued at $1,706,871,000 after buying an additional 1,272,634 shares during the period. Norges Bank acquired a new stake in shares of Rockwell Automation in the 4th quarter valued at $387,237,000. Moors & Cabot Inc. increased its stake in shares of Rockwell Automation by 28,025.0% in the 3rd quarter. Moors & Cabot Inc. now owns 522,000 shares of the industrial products company’s stock valued at $545,000 after buying an additional 520,144 shares during the period. Two Sigma Investments LP grew its stake in shares of Rockwell Automation by 9,956.6% during the third quarter. Two Sigma Investments LP now owns 275,986 shares of the industrial products company’s stock worth $81,151,000 after purchasing an additional 278,786 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Rockwell Automation by 39.1% during the third quarter. Franklin Resources Inc. now owns 764,351 shares of the industrial products company’s stock worth $224,750,000 after purchasing an additional 214,731 shares during the period. Hedge funds and other institutional investors own 75.96% of the company’s stock.

About Rockwell Automation (Get Rating)

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.

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