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

Rockwell Automation (NYSE:ROK) had its target price decreased by Citigroup from $350.00 to $283.00 in a research report sent to investors on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

Several other brokerages have also recently issued reports on ROK. Stephens upgraded shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $275.00 to $350.00 in a research report on Thursday, January 16th. KeyCorp lowered their target price on Rockwell Automation from $345.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Barclays reduced their price target on 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. BNP Paribas raised Rockwell Automation from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Rockwell Automation from $248.00 to $201.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $297.11.

Rockwell Automation Stock Up 1.7 %

Shares of ROK opened at $233.38 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08. Rockwell Automation has a 52 week low of $215.00 and a 52 week high of $308.70. The stock has a market capitalization of $26.39 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 3.53 and a beta of 1.39. The stock has a fifty day moving average of $267.39 and a 200-day moving average of $276.41.

Rockwell Automation (NYSE:ROK) last posted its earnings results 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 30.17% and a net margin of 11.38%. As a group, sell-side analysts anticipate that Rockwell Automation will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.31 per share. The ex-dividend date is Monday, May 19th. This represents a $5.24 annualized dividend and a dividend yield of 2.25%. Rockwell Automation’s dividend payout ratio is 65.26%.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, SVP Tessa M. Myers sold 1,231 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $285.43, for a total transaction of $351,364.33. Following the completion of the sale, the senior vice president now directly owns 3,650 shares of the company’s stock, valued at approximately $1,041,819.50. The trade was a 25.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Matheus De A. G. Viera Bulho sold 293 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $257.68, for a total value of $75,500.24. Following the completion of the sale, the senior vice president now directly owns 1,922 shares of the company’s stock, valued at approximately $495,260.96. This trade represents a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,750 shares of company stock valued at $1,075,923 over the last ninety days. 0.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rockwell Automation

Several institutional investors have recently bought and sold shares of ROK. Norges Bank purchased a new position in Rockwell Automation during the 4th quarter worth $284,177,000. GAMMA Investing LLC grew its position in Rockwell Automation by 29,844.4% in the 1st quarter. GAMMA Investing LLC now owns 702,794 shares of the industrial products company’s stock worth $181,588,000 after purchasing an additional 700,447 shares in the last quarter. Wellington Management Group LLP grew its position in Rockwell Automation by 85,513.1% in the 4th quarter. Wellington Management Group LLP now owns 675,487 shares of the industrial products company’s stock worth $193,047,000 after purchasing an additional 674,698 shares in the last quarter. Alliancebernstein L.P. increased its stake in Rockwell Automation by 102.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,287,731 shares of the industrial products company’s stock valued at $368,021,000 after buying an additional 651,116 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Rockwell Automation by 6.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,115,280 shares of the industrial products company’s stock worth $2,033,476,000 after buying an additional 432,934 shares in the last quarter. 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.