Rockwell Automation (NYSE:ROK) Now Covered by UBS Group

UBS Group assumed coverage on shares of Rockwell Automation (NYSE:ROK) in a research report report published on Wednesday morning, Marketbeat reports. The firm issued a neutral rating and a $313.00 target price on the industrial products company’s stock.

A number of other equities research analysts also recently issued reports on ROK. Morgan Stanley started coverage on Rockwell Automation in a research report on Friday, September 6th. They set an “overweight” rating and a $320.00 price target for the company. Robert W. Baird increased their target price on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Wells Fargo & Company lifted their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Oppenheimer lifted their target price on shares of Rockwell Automation from $288.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, 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 report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rockwell Automation 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 company has a market cap of $32.31 billion, a P/E ratio of 34.56, a P/E/G ratio of 2.98 and a beta of 1.36. Rockwell Automation has a 12 month low of $242.81 and a 12 month high of $312.76. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 1.17. The company has a 50-day moving average of $269.16 and a 200-day moving average of $266.87.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. Rockwell Automation’s revenue was down 20.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.64 earnings per share. As a group, equities analysts predict that Rockwell Automation will post 9.46 earnings per share for the current year.

Rockwell Automation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a $1.31 dividend. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, November 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.83%. Rockwell Automation’s dividend payout ratio (DPR) is presently 60.39%.

Rockwell Automation declared that its Board of Directors has initiated a stock buyback program on Thursday, September 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation 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 sale, the senior vice president now owns 4,576 shares of the company’s stock, valued at $1,221,151.36. The trade was a 11.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ROK. Pathway Financial Advisers LLC bought a new position in shares of Rockwell Automation during the 1st quarter valued at about $26,000. Richardson Financial Services Inc. boosted its holdings in shares of Rockwell Automation by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 48 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Rockwell Automation during the 3rd quarter valued at $26,000. ESL Trust Services LLC purchased a new position in Rockwell Automation in the first quarter valued at about $29,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Rockwell Automation in the 3rd quarter valued at approximately $34,000. 75.75% of the stock is owned by institutional investors and hedge funds.

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.