Robert W. Baird Issues Positive Forecast for Rockwell Automation (NYSE:ROK) Stock Price

Rockwell Automation (NYSE:ROK) had its price objective upped by Robert W. Baird from $280.00 to $290.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the company. Mizuho raised their price target on Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. TD Cowen decreased their price objective on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company raised their price target on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Bank of America boosted their target price on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. decreased their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $284.21.

Rockwell Automation Stock Performance

Shares of Rockwell Automation stock traded down $4.95 during trading hours on Friday, hitting $272.14. 1,067,395 shares of the company were exchanged, compared to its average volume of 625,232. Rockwell Automation has a 1 year low of $242.81 and a 1 year high of $312.76. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average of $266.92 and a 200-day moving average of $266.69. The stock has a market capitalization of $30.88 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 5.12 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.07. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. Rockwell Automation’s revenue was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.64 earnings per share. As a group, analysts expect that Rockwell Automation will post 9.65 EPS for the current fiscal year.

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 shares. This repurchase authorization permits the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Rockwell Automation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.93%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation’s payout ratio is 56.82%.

Insider Activity

In related news, SVP Veena M. Lakkundi sold 579 shares of the company’s stock in a transaction on Monday, November 4th. The stock was 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 directly owns 4,576 shares in the company, valued at $1,221,151.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ROK. Pathway Financial Advisers LLC bought a new position in shares of Rockwell Automation in the first quarter worth $26,000. Richardson Financial Services Inc. lifted its holdings in shares of Rockwell Automation by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after buying an additional 48 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Rockwell Automation in the third quarter valued at $26,000. ESL Trust Services LLC acquired a new stake in shares of Rockwell Automation in the first quarter valued at $29,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Rockwell Automation in the third quarter valued at $34,000. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Company Profile

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.