UBS Group Begins Coverage on Rockwell Automation (NYSE:ROK)

UBS Group began coverage on shares of Rockwell Automation (NYSE:ROK - Free Report) in a research note released on Wednesday, MarketBeat reports. The brokerage issued a neutral rating and a $313.00 price objective on the industrial products company's stock.

Several other research firms also recently weighed in on ROK. Robert W. Baird increased their price target on Rockwell Automation from $280.00 to $290.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Oppenheimer lifted their price objective on shares of Rockwell Automation from $288.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Bank of America boosted their target price on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Morgan Stanley began coverage on Rockwell Automation in a research report on Friday, September 6th. They issued an "overweight" rating and a $320.00 price target for the company. Finally, Barclays raised their target price on Rockwell Automation from $245.00 to $255.00 and gave the stock an "underweight" rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $285.13.

Rockwell Automation Stock Up 3.1 %

Shares of ROK traded up $8.69 during trading hours on Wednesday, reaching $286.57. 1,033,345 shares of the stock traded hands, compared to its average volume of 880,744. Rockwell Automation has a 52 week low of $242.81 and a 52 week high of $312.76. The company has a market cap of $32.52 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 2.86 and a beta of 1.36. The stock has a fifty day simple moving average of $267.36 and a 200 day simple moving average of $266.55. The company has a current ratio of 1.84, a quick ratio of 1.17 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.40 by $0.07. The firm had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The company's quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.64 EPS. On average, equities analysts forecast that Rockwell Automation will post 9.54 EPS for the current year.

Rockwell Automation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.31 per share. This is a boost from Rockwell Automation's previous quarterly dividend of $1.25. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation's dividend payout ratio (DPR) is 60.39%.

Rockwell Automation declared that its board has initiated a stock repurchase program on Thursday, September 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, SVP Veena M. Lakkundi sold 579 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 4,576 shares of the company's stock, valued at approximately $1,221,151.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.68% of the company's stock.

Institutional Investors Weigh In On Rockwell Automation

Several institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its holdings in Rockwell Automation by 4.1% in the third quarter. BNP Paribas Financial Markets now owns 149,243 shares of the industrial products company's stock worth $40,066,000 after buying an additional 5,844 shares during the period. Quantbot Technologies LP bought a new stake in shares of Rockwell Automation during the 3rd quarter valued at $1,780,000. D.A. Davidson & CO. increased its stake in shares of Rockwell Automation by 6.1% in the 3rd quarter. D.A. Davidson & CO. now owns 21,962 shares of the industrial products company's stock worth $5,896,000 after acquiring an additional 1,267 shares in the last quarter. Summit Financial Wealth Advisors LLC purchased a new stake in Rockwell Automation in the third quarter worth about $322,000. Finally, Elios Financial Group Inc. bought a new position in shares of Rockwell Automation during the third quarter valued at approximately $353,000. Hedge funds and other institutional investors own 75.75% of the company's stock.

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.