Rockwell Automation (NYSE:ROK) Hits New 12-Month High Following Analyst Upgrade

Rockwell Automation, Inc. (NYSE:ROK) hit a new 52-week high during mid-day trading on Tuesday after KeyCorp raised their price target on the stock from $360.00 to $370.00. KeyCorp currently has an overweight rating on the stock. Rockwell Automation traded as high as $351.07 and last traded at $346.64, with a volume of 979576 shares trading hands. The stock had previously closed at $343.17.

Several other equities analysts have also weighed in on the stock. BNP Paribas upgraded shares of Rockwell Automation from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 9th. Oppenheimer boosted their target price on shares of Rockwell Automation from $258.00 to $304.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. CICC Research initiated coverage on shares of Rockwell Automation in a report on Monday, July 7th. They issued an “outperform” rating and a $381.00 target price on the stock. Barclays boosted their target price on shares of Rockwell Automation from $350.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Rockwell Automation from $271.00 to $299.00 and gave the company a “neutral” rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $333.63.

Insider Activity

In other Rockwell Automation news, SVP Christopher Nardecchia sold 551 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $326.31, for a total value of $179,796.81. Following the sale, the senior vice president directly owned 12,711 shares of the company’s stock, valued at approximately $4,147,726.41. This represents a 4.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Matheus De A. G. Viera Bulho sold 526 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $325.35, for a total transaction of $171,134.10. Following the completion of the sale, the senior vice president directly owned 983 shares in the company, valued at approximately $319,819.05. This represents a 34.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,388 shares of company stock worth $2,307,487 over the last 90 days. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Rockwell Automation

A number of large investors have recently modified their holdings of ROK. Citizens National Bank Trust Department acquired a new stake in Rockwell Automation during the 1st quarter worth $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Rockwell Automation during the 1st quarter worth $31,000. IMA Advisory Services Inc. acquired a new stake in Rockwell Automation during the 1st quarter worth $32,000. Parvin Asset Management LLC acquired a new stake in Rockwell Automation during the 4th quarter worth $36,000. Finally, Cooksen Wealth LLC acquired a new stake in Rockwell Automation during the 1st quarter worth $34,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Stock Performance

The stock has a market cap of $39.07 billion, a price-to-earnings ratio of 43.66, a PEG ratio of 3.86 and a beta of 1.38. The stock’s 50 day moving average is $320.92 and its two-hundred day moving average is $285.84. The company has a current ratio of 1.05, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter last year, the business earned $2.50 EPS. The business’s revenue was down 5.9% on a year-over-year basis. Analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be paid a $1.31 dividend. This represents a $5.24 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Monday, August 18th. Rockwell Automation’s dividend payout ratio (DPR) is 65.99%.

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.