Rockwell Automation (NYSE:ROK) Given New $255.00 Price Target at Barclays

Rockwell Automation (NYSE:ROK - Free Report) had its price objective boosted by Barclays from $245.00 to $255.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an underweight rating on the industrial products company's stock.

A number of other research analysts have also recently commented on the company. TD Cowen reduced their target price on Rockwell Automation from $220.00 to $215.00 and set a "sell" rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company boosted their target price on Rockwell Automation from $293.00 to $305.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Morgan Stanley began coverage on Rockwell Automation in a research note on Friday, September 6th. They issued an "overweight" rating and a $320.00 target price for the company. Mizuho lifted their price target on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Finally, Bank of America upped their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $284.21.

Rockwell Automation Price Performance

Shares of ROK traded down $4.95 during trading hours on Friday, reaching $272.14. 1,067,395 shares of the company's stock traded hands, compared to its average volume of 625,232. Rockwell Automation has a 12 month low of $242.81 and a 12 month high of $312.76. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. The stock has a market cap of $30.88 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 5.12 and a beta of 1.36. The firm's 50 day simple moving average is $266.92 and its 200-day simple moving average is $266.69.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.07. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the firm posted $3.64 earnings per share. Rockwell Automation's quarterly revenue was down 20.6% on a year-over-year basis. Equities analysts expect that Rockwell Automation will post 9.65 EPS for the current year.

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

Rockwell Automation Increases Dividend

The company 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 represents a $5.24 annualized dividend and a dividend yield of 1.93%. This is an increase from Rockwell Automation's previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation's dividend payout ratio is 56.82%.

Insider Activity at Rockwell Automation

In other news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $266.86, for a total value of $154,511.94. Following the sale, the senior vice president now directly owns 4,576 shares in the company, valued at approximately $1,221,151.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rockwell Automation

A number of large investors have recently modified their holdings of the stock. Pathway Financial Advisers LLC purchased a new position in shares of Rockwell Automation during the 1st quarter worth approximately $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 purchasing an additional 48 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Rockwell Automation in the third quarter worth $26,000. ESL Trust Services LLC bought a new position in Rockwell Automation in the first quarter worth $29,000. Finally, Darwin Wealth Management LLC bought a new position in Rockwell Automation in the third quarter worth $34,000. 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.