Shares of Rockwell Automation (NYSE:ROK) have earned a consensus rating of “Hold” from the eighteen research firms that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $181.54.
A number of research analysts have issued reports on ROK shares. ValuEngine upgraded Rockwell Automation from a “hold” rating to a “buy” rating in a research note on Friday, September 21st. UBS Group reduced their price objective on Rockwell Automation from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Thursday, August 30th. Zacks Investment Research upgraded Rockwell Automation from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a research note on Wednesday, July 18th. Gordon Haskett started coverage on Rockwell Automation in a research note on Friday, October 12th. They issued a “buy” rating for the company. Finally, Morgan Stanley upped their price objective on Rockwell Automation from $187.00 to $192.00 and gave the company an “equal weight” rating in a research note on Friday, July 27th.
NYSE:ROK traded up $0.57 during trading on Monday, reaching $173.04. The company’s stock had a trading volume of 56,268 shares, compared to its average volume of 1,315,121. The company has a market capitalization of $21.24 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 1.65 and a beta of 1.28. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.93 and a quick ratio of 1.60. Rockwell Automation has a 12 month low of $153.67 and a 12 month high of $209.38.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 12th will be paid a dividend of $0.97 per share. This is an increase from Rockwell Automation’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $3.88 annualized dividend and a dividend yield of 2.24%. Rockwell Automation’s dividend payout ratio is presently 54.44%.
Rockwell Automation declared that its board has authorized a stock repurchase program on Thursday, September 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In other news, VP Susan Schmitt sold 4,500 shares of the stock in a transaction on Friday, August 24th. The stock was sold at an average price of $175.02, for a total transaction of $787,590.00. Following the completion of the transaction, the vice president now owns 15,967 shares in the company, valued at approximately $2,794,544.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.28% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Centaurus Financial Inc. bought a new position in shares of Rockwell Automation during the 2nd quarter worth $103,000. AdvisorNet Financial Inc lifted its holdings in Rockwell Automation by 262.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 670 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 485 shares in the last quarter. Fort L.P. purchased a new stake in Rockwell Automation during the 2nd quarter worth about $117,000. Ropes Wealth Advisors LLC lifted its holdings in Rockwell Automation by 200.0% during the 3rd quarter. Ropes Wealth Advisors LLC now owns 750 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 500 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA purchased a new stake in Rockwell Automation during the 2nd quarter worth about $158,000. Institutional investors own 74.67% of the company’s stock.
About Rockwell Automation
Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.
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