Robert W. Baird Increases Rockwell Automation (NYSE:ROK) Price Target to $305.00

Rockwell Automation (NYSE:ROK) had its target price hoisted by Robert W. Baird from $290.00 to $305.00 in a report released on Tuesday,Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

A number of other equities research analysts also recently issued reports on ROK. Bank of America upped their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. UBS Group started coverage on Rockwell Automation in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 target price on the stock. TD Cowen lowered their price target 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. JPMorgan Chase & Co. cut their price objective on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Finally, Wells Fargo & Company raised their target price on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $287.13.

Rockwell Automation Price Performance

NYSE:ROK opened at $295.14 on Tuesday. Rockwell Automation has a 52 week low of $242.81 and a 52 week high of $312.76. The stock’s fifty day moving average is $274.63 and its two-hundred day moving average is $268.05. The company has a market capitalization of $33.32 billion, a P/E ratio of 35.64, a P/E/G ratio of 3.07 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the company earned $3.64 EPS. The company’s quarterly revenue was down 20.6% on a year-over-year basis. Equities analysts expect that Rockwell Automation will post 9.44 EPS for the current year.

Rockwell Automation Increases Dividend

The company also recently declared 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 annualized dividend and a yield of 1.78%. 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 payout ratio is 63.29%.

Rockwell Automation announced that its Board of Directors has authorized a share buyback plan on Thursday, September 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, CEO Blake D. Moret sold 26,700 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $298.63, for a total value of $7,973,421.00. Following the sale, the chief executive officer now directly owns 78,115 shares in the company, valued at $23,327,482.45. This trade represents a 25.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Cyril Perducat sold 1,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the transaction, the senior vice president now directly owns 3,630 shares of the company’s stock, valued at approximately $1,089,000. This represents a 21.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,746 shares of company stock valued at $9,152,594. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Rockwell Automation

Hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC raised its stake in Rockwell Automation by 7.1% during the 1st quarter. Tidal Investments LLC now owns 4,680 shares of the industrial products company’s stock worth $1,363,000 after acquiring an additional 311 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in shares of Rockwell Automation during the first quarter worth about $681,000. Comerica Bank lifted its holdings in shares of Rockwell Automation by 6.1% in the 1st quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock valued at $17,485,000 after purchasing an additional 3,425 shares during the last quarter. Hancock Whitney Corp boosted its position in shares of Rockwell Automation by 2.5% in the 1st quarter. Hancock Whitney Corp now owns 1,805 shares of the industrial products company’s stock valued at $526,000 after purchasing an additional 44 shares during the period. Finally, LBP AM SA grew its stake in Rockwell Automation by 122.2% during the 1st quarter. LBP AM SA now owns 3,238 shares of the industrial products company’s stock worth $943,000 after buying an additional 1,781 shares during the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

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.