Rockwell Automation (NYSE:ROK) Now Covered by BNP Paribas

BNP Paribas assumed coverage on shares of Rockwell Automation (NYSE:ROK) in a research report sent to investors on Wednesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $345.00 target price on the industrial products company’s stock.

A number of other equities research analysts also recently weighed in on ROK. TD Cowen dropped their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Mizuho upped their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. UBS Group started coverage on Rockwell Automation in a research note on Wednesday. They issued a “neutral” rating and a $313.00 target price on the stock. Barclays raised their target price on Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Finally, Bank of America upped their price target on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $286.13.

Rockwell Automation Trading Down 0.1 %

Shares of Rockwell Automation stock opened at $286.15 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 1.17. The company’s fifty day moving average price is $269.16 and its two-hundred day moving average price is $266.84. The firm has a market capitalization of $32.31 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.36. Rockwell Automation has a 52-week low of $242.81 and a 52-week high of $312.76.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the firm earned $3.64 EPS. The company’s revenue was down 20.6% on a year-over-year basis. On average, analysts expect that Rockwell Automation will post 9.54 EPS for the current year.

Rockwell Automation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Monday, November 18th. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s dividend payout ratio is 60.39%.

Rockwell Automation declared that its board has authorized a stock repurchase program on Thursday, September 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the completion of the transaction, the senior vice president now owns 4,576 shares in the company, valued at approximately $1,221,151.36. This represents a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Rockwell Automation

A number of large investors have recently modified their holdings of the business. Sei Investments Co. raised its stake in shares of Rockwell Automation by 4.5% during the 1st quarter. Sei Investments Co. now owns 73,805 shares of the industrial products company’s stock worth $21,502,000 after purchasing an additional 3,194 shares in the last quarter. Headlands Technologies LLC bought a new position in Rockwell Automation during the first quarter worth about $66,000. Russell Investments Group Ltd. increased its position in Rockwell Automation by 18.8% during the first quarter. Russell Investments Group Ltd. now owns 49,947 shares of the industrial products company’s stock worth $14,550,000 after buying an additional 7,919 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in Rockwell Automation by 15.0% in the first quarter. Avantax Advisory Services Inc. now owns 3,294 shares of the industrial products company’s stock valued at $960,000 after buying an additional 429 shares during the period. Finally, Bleakley Financial Group LLC raised its stake in Rockwell Automation by 3.6% in the first quarter. Bleakley Financial Group LLC now owns 3,446 shares of the industrial products company’s stock valued at $1,004,000 after buying an additional 120 shares during the period. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.