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

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

Other analysts also recently issued research reports about the stock. TD Cowen reduced their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company lifted their price objective on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 7th. UBS Group initiated coverage on shares of Rockwell Automation in a report on Wednesday. They issued a “neutral” rating and a $313.00 target price on the stock. Morgan Stanley began coverage on Rockwell Automation in a research note on Friday, September 6th. They set an “overweight” rating and a $320.00 price target for the company. Finally, Bank of America increased their price objective on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $286.13.

Rockwell Automation Trading Down 0.1 %

NYSE:ROK opened at $286.15 on Wednesday. The firm has a fifty day simple moving average of $269.16 and a two-hundred day simple moving average of $266.87. Rockwell Automation has a 12 month low of $242.81 and a 12 month high of $312.76. The stock has a market capitalization of $32.31 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 2.98 and a beta of 1.36. The company has a current ratio of 1.08, a quick ratio of 1.17 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The firm’s revenue was down 20.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.64 EPS. Analysts expect that Rockwell Automation will post 9.46 EPS for the current fiscal year.

Rockwell Automation declared that its board has authorized a share buyback plan on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Rockwell Automation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 an increase from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s dividend payout ratio (DPR) is 60.39%.

Insider Activity

In related news, SVP Veena M. Lakkundi sold 579 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $266.86, for a total transaction of $154,511.94. Following the sale, the senior vice president now owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. This represents a 11.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sei Investments Co. boosted its position in shares of Rockwell Automation by 4.5% in 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 purchased a new position in shares of Rockwell Automation in the 1st quarter worth about $66,000. Russell Investments Group Ltd. boosted its stake in Rockwell Automation by 18.8% in the 1st quarter. Russell Investments Group Ltd. now owns 49,947 shares of the industrial products company’s stock worth $14,550,000 after purchasing an additional 7,919 shares in the last quarter. Avantax Advisory Services Inc. grew its position in Rockwell Automation by 15.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,294 shares of the industrial products company’s stock valued at $960,000 after purchasing an additional 429 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its holdings 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 worth $1,004,000 after buying an additional 120 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.

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.