Rockwell Automation (NYSE:ROK) Given New $290.00 Price Target at The Goldman Sachs Group

Rockwell Automation (NYSE:ROK) had its target price hoisted by The Goldman Sachs Group from $257.00 to $290.00 in a research note released on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the industrial products company’s stock.

Several other equities analysts have also commented on the company. Barclays increased their price objective on Rockwell Automation from $285.00 to $300.00 and gave the company an “equal weight” rating in a research report on Tuesday. Morgan Stanley increased their price target on shares of Rockwell Automation from $320.00 to $335.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup boosted their price objective on shares of Rockwell Automation from $345.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday. KeyCorp upgraded shares of Rockwell Automation from a “sector weight” rating to an “overweight” rating and set a $345.00 target price on the stock in a research report on Monday, December 9th. Finally, Mizuho upped their price target on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Rockwell Automation has an average rating of “Hold” and a consensus target price of $307.55.

Rockwell Automation Trading Up 0.5 %

Shares of ROK opened at $303.99 on Tuesday. Rockwell Automation has a 1-year low of $242.81 and a 1-year high of $308.70. The company has a market capitalization of $34.36 billion, a P/E ratio of 36.71, a P/E/G ratio of 2.89 and a beta of 1.35. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 0.72. The firm’s 50 day simple moving average is $285.82 and its 200 day simple moving average is $275.28.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. Sell-side analysts forecast that Rockwell Automation will post 9.32 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th will be issued a $1.31 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.24 annualized dividend and a yield of 1.72%. Rockwell Automation’s dividend payout ratio (DPR) is presently 65.26%.

Insider Activity

In related news, CEO Blake D. Moret sold 26,700 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the sale, the chief executive officer now directly owns 78,115 shares of the company’s stock, valued at approximately $23,327,482.45. This represents a 25.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $284.07, for a total transaction of $132,660.69. Following the completion of the transaction, the vice president now directly owns 4,800 shares of the company’s stock, valued at $1,363,536. This trade represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, 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 Investors Weigh In On Rockwell Automation

Institutional investors and hedge funds have recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of Rockwell Automation in the 3rd quarter worth $26,000. Richardson Financial Services Inc. boosted its position 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 valued at $26,000 after buying an additional 48 shares during the last quarter. West Oak Capital LLC increased its holdings in Rockwell Automation by 455.6% in the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after buying an additional 82 shares in the last quarter. Bank of Jackson Hole Trust purchased a new position in Rockwell Automation in the 4th quarter worth about $34,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Rockwell Automation during the 4th quarter valued at about $35,000. Institutional investors own 75.75% of the company’s stock.

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.