Rockwell Automation (NYSE:ROK) Price Target Cut to $283.00 by Analysts at Citigroup

Rockwell Automation (NYSE:ROK) had its price target reduced by Citigroup from $350.00 to $283.00 in a report published on Monday, MarketBeat Ratings reports. They currently have a buy rating on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley upped their price target on shares of Rockwell Automation from $335.00 to $345.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Barclays decreased their target price on shares of Rockwell Automation from $280.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company lifted their price target on Rockwell Automation from $315.00 to $337.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Robert W. Baird upped their price objective on Rockwell Automation from $305.00 to $315.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Finally, Oppenheimer lifted their target price on Rockwell Automation from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $297.11.

Rockwell Automation Trading Down 2.1 %

Shares of Rockwell Automation stock opened at $228.13 on Monday. Rockwell Automation has a twelve month low of $215.00 and a twelve month high of $308.70. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average price of $265.88 and a 200-day moving average price of $275.78. The firm has a market cap of $25.80 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 3.53 and a beta of 1.39.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. Equities research analysts anticipate that Rockwell Automation will post 9.35 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, May 19th. Rockwell Automation’s dividend payout ratio is presently 65.26%.

Insider Buying and Selling

In other news, VP Terry L. Riesterer sold 850 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $300.21, for a total value of $255,178.50. Following the transaction, the vice president now directly owns 1,633 shares of the company’s stock, valued at approximately $490,242.93. This represents a 34.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tessa M. Myers sold 1,231 shares of Rockwell Automation stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $285.43, for a total value of $351,364.33. Following the sale, the senior vice president now directly owns 3,650 shares of the company’s stock, valued at $1,041,819.50. This trade represents a 25.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,750 shares of company stock valued at $1,075,923 over the last quarter. 0.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rockwell Automation

Institutional investors have recently bought and sold shares of the business. MCF Advisors LLC increased its stake in shares of Rockwell Automation by 95.8% in the fourth quarter. MCF Advisors LLC now owns 2,332 shares of the industrial products company’s stock worth $667,000 after acquiring an additional 1,141 shares during the period. Ameritas Advisory Services LLC boosted its holdings in Rockwell Automation by 99.1% in the fourth quarter. Ameritas Advisory Services LLC now owns 5,187 shares of the industrial products company’s stock valued at $1,482,000 after purchasing an additional 2,582 shares during the last quarter. Nordea Investment Management AB grew its position in Rockwell Automation by 5.9% during the 4th quarter. Nordea Investment Management AB now owns 462,537 shares of the industrial products company’s stock worth $132,554,000 after purchasing an additional 25,882 shares during the period. Wellington Management Group LLP raised its stake in shares of Rockwell Automation by 7.3% during the 3rd quarter. Wellington Management Group LLP now owns 789 shares of the industrial products company’s stock valued at $212,000 after buying an additional 54 shares during the last quarter. Finally, Signal Advisors Wealth LLC lifted its holdings in shares of Rockwell Automation by 12.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 946 shares of the industrial products company’s stock valued at $270,000 after buying an additional 105 shares during the period. 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.