Rockwell Automation (NYSE:ROK) Reaches New 52-Week Low on Analyst Downgrade

Rockwell Automation, Inc. (NYSE:ROK - Get Free Report) reached a new 52-week low during trading on Wednesday after Barclays lowered their price target on the stock from $280.00 to $260.00. Barclays currently has an equal weight rating on the stock. Rockwell Automation traded as low as $215.29 and last traded at $217.28, with a volume of 1258052 shares. The stock had previously closed at $227.62.

Several other analysts have also recently issued reports on ROK. Oppenheimer increased their target price on Rockwell Automation from $300.00 to $320.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 11th. Wells Fargo & Company lifted their price objective on shares of Rockwell Automation from $315.00 to $337.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Morgan Stanley upped their target price on shares of Rockwell Automation from $335.00 to $345.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. HSBC upgraded Rockwell Automation from a "hold" rating to a "buy" rating and set a $355.00 price target for the company in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group upped their price objective on Rockwell Automation from $257.00 to $290.00 and gave the company a "sell" rating in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Rockwell Automation has an average rating of "Hold" and an average price target of $300.63.

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Insider Activity

In related news, VP Terry L. Riesterer sold 850 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $300.21, for a total value of $255,178.50. Following the completion of the sale, the vice president now owns 1,633 shares in the company, valued at approximately $490,242.93. The trade was a 34.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tessa M. Myers sold 1,231 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $285.43, for a total value of $351,364.33. Following the transaction, the senior vice president now owns 3,650 shares in the company, valued at $1,041,819.50. The trade was a 25.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,750 shares of company stock valued at $1,075,923. 0.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rockwell Automation

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in Rockwell Automation during the fourth quarter worth $284,177,000. GAMMA Investing LLC raised its position in shares of 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 acquiring an additional 700,447 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Rockwell Automation by 85,513.1% during 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 during the last quarter. Alliancebernstein L.P. boosted its position in Rockwell Automation by 102.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,287,731 shares of the industrial products company's stock valued at $368,021,000 after purchasing an additional 651,116 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Rockwell Automation by 6.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,115,280 shares of the industrial products company's stock valued at $2,033,476,000 after purchasing an additional 432,934 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Price Performance

The firm has a market capitalization of $25.89 billion, a P/E ratio of 28.52, a P/E/G ratio of 3.53 and a beta of 1.39. The stock's fifty day simple moving average is $268.12 and its 200 day simple moving average is $276.67. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.61 by $0.22. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. On average, equities research analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Announces Dividend

The firm 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 of this dividend is Monday, May 19th. This represents a $5.24 annualized dividend and a dividend yield of 2.29%. Rockwell Automation's dividend payout ratio is presently 65.26%.

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.