Oppenheimer Forecasts Strong Price Appreciation for Rockwell Automation (NYSE:ROK) Stock

Rockwell Automation (NYSE:ROK) had its price target increased by Oppenheimer from $300.00 to $320.00 in a report released on Tuesday,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the stock. Barclays cut their target price on shares of Rockwell Automation from $290.00 to $285.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Stephens upgraded Rockwell Automation from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $275.00 to $350.00 in a research report on Thursday, January 16th. HSBC upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 price objective on the stock in a report on Wednesday, December 11th. Bank of America lifted their price target on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird increased their target price on Rockwell Automation from $305.00 to $315.00 and gave the company an “outperform” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $307.55.

Rockwell Automation Stock Performance

NYSE:ROK opened at $303.99 on Tuesday. 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 has a twelve month low of $242.81 and a twelve month high of $308.70. The stock has a market cap of $34.36 billion, a P/E ratio of 36.71, a PEG ratio of 2.89 and a beta of 1.35. The business’s 50-day moving average price is $285.82 and its two-hundred day moving average price is $275.28.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. As a group, equities analysts predict that Rockwell Automation will post 9.32 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $1.31 per share. The ex-dividend date is Tuesday, February 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.72%. Rockwell Automation’s dividend payout ratio is presently 65.26%.

Insider Buying and Selling

In related news, VP Isaac Woods sold 895 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $274.72, for a total transaction of $245,874.40. Following the completion of the transaction, the vice president now directly owns 1,198 shares of the company’s stock, valued at approximately $329,114.56. This represents a 42.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott Genereux sold 278 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $302.04, for a total transaction of $83,967.12. Following the completion of the transaction, the vice president now directly owns 3,184 shares of the company’s stock, valued at approximately $961,695.36. This trade represents a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,857 shares of company stock valued at $10,678,037. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Rockwell Automation by 238.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 864 shares of the industrial products company’s stock worth $232,000 after acquiring an additional 609 shares during the last quarter. Ritholtz Wealth Management bought a new position in Rockwell Automation in the third quarter worth approximately $214,000. Fiduciary Alliance LLC purchased a new stake in shares of Rockwell Automation during the 3rd quarter worth $234,000. Creative Planning grew its position in shares of Rockwell Automation by 3.2% in the 3rd quarter. Creative Planning now owns 25,927 shares of the industrial products company’s stock worth $6,960,000 after buying an additional 807 shares during the last quarter. Finally, Cabot Wealth Management Inc. grew its holdings in Rockwell Automation by 1.2% in the third quarter. Cabot Wealth Management Inc. now owns 45,809 shares of the industrial products company’s stock worth $12,298,000 after purchasing an additional 555 shares during the last quarter. 75.75% of the stock is 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.