Rockwell Automation (NYSE:ROK) Given New $345.00 Price Target at Morgan Stanley

Rockwell Automation (NYSE:ROK) had its price target raised by Morgan Stanley from $335.00 to $345.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

A number of other research analysts have also issued reports on ROK. Citigroup raised their target price on shares of Rockwell Automation from $345.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group initiated coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 target price on the stock. Barclays lifted their price objective on Rockwell Automation from $285.00 to $300.00 and gave the company an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 15th. Finally, BNP Paribas started coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 price objective for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Rockwell Automation presently has an average rating of “Hold” and a consensus target price of $308.05.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $302.01 on Wednesday. The firm’s 50-day simple moving average is $286.07 and its 200 day simple moving average is $275.47. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. The stock has a market cap of $34.14 billion, a P/E ratio of 36.47, a P/E/G ratio of 2.89 and a beta of 1.35. Rockwell Automation has a fifty-two week low of $242.81 and a fifty-two week high of $308.70.

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

Rockwell Automation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.74%. The ex-dividend date is Tuesday, February 18th. Rockwell Automation’s payout ratio is presently 63.29%.

Insider Transactions at Rockwell Automation

In other news, VP Isaac Woods sold 895 shares of the company’s stock in a transaction on Friday, January 10th. The shares were 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 in the company, 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 the SEC website. Also, VP Scott Genereux sold 278 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $302.04, for a total value of $83,967.12. Following the sale, the vice president now owns 3,184 shares in the company, valued at $961,695.36. This represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,857 shares of company stock valued at $10,678,037. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Rockwell Automation

Institutional investors have recently added to or reduced their stakes in the business. Gladstone Institutional Advisory LLC grew its stake in shares of Rockwell Automation by 33.2% in the third quarter. Gladstone Institutional Advisory LLC now owns 1,377 shares of the industrial products company’s stock worth $370,000 after purchasing an additional 343 shares during the last quarter. MCF Advisors LLC grew its position in shares of Rockwell Automation by 95.8% in the 4th quarter. MCF Advisors LLC now owns 2,332 shares of the industrial products company’s stock valued at $667,000 after buying an additional 1,141 shares during the last quarter. Ameritas Advisory Services LLC increased its stake in shares of 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 buying an additional 2,582 shares during the period. GSA Capital Partners LLP bought a new position in shares of Rockwell Automation during the third quarter worth about $912,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Rockwell Automation by 6.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 34,209 shares of the industrial products company’s stock worth $9,184,000 after acquiring an additional 1,928 shares during the period. 75.75% of the stock is owned by institutional investors.

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.