Rockwell Automation (NYSE:ROK) Given New $335.00 Price Target at Morgan Stanley

Rockwell Automation (NYSE:ROK) had its target price upped by Morgan Stanley from $320.00 to $335.00 in a research note issued to investors on Friday,Benzinga reports. Morgan Stanley currently has an overweight rating on the industrial products company’s stock.

Other equities analysts have also issued research reports about the stock. BNP Paribas initiated coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They set an “outperform” rating and a $345.00 price objective for the company. Wells Fargo & Company lifted their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Mizuho increased their price objective on Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Bank of America lifted their target price on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Barclays boosted their target price on Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $286.13.

Rockwell Automation Trading Down 0.6 %

Rockwell Automation stock opened at $283.13 on Friday. Rockwell Automation has a 12-month low of $242.81 and a 12-month high of $312.76. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 1.17. The stock has a market capitalization of $31.96 billion, a PE ratio of 34.19, a price-to-earnings-growth ratio of 2.95 and a beta of 1.36. The firm has a 50 day simple moving average of $269.64 and a 200-day simple moving average of $266.91.

Rockwell Automation (NYSE:ROK) last released its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the firm posted $3.64 earnings per share. The firm’s revenue for the quarter was down 20.6% compared to the same quarter last year. As a group, equities research analysts expect that Rockwell Automation will post 9.54 EPS for the current fiscal year.

Rockwell Automation announced that its Board of Directors has initiated a share repurchase plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Rockwell Automation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.31 dividend. This represents a $5.24 annualized dividend and a yield of 1.85%. The ex-dividend date is Monday, November 18th. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s dividend payout ratio is currently 63.29%.

Insider Activity

In other news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction dated 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 directly owns 4,576 shares in the company, valued at $1,221,151.36. The trade was a 11.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Rockwell Automation

Institutional investors have recently added to or reduced their stakes in the business. CreativeOne Wealth LLC increased its stake in shares of Rockwell Automation by 3.0% during the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 37 shares during the last quarter. Prospera Financial Services Inc increased its position in Rockwell Automation by 0.9% during the third quarter. Prospera Financial Services Inc now owns 4,033 shares of the industrial products company’s stock worth $1,083,000 after buying an additional 37 shares during the last quarter. Mather Group LLC. increased its position in Rockwell Automation by 5.9% during the second quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock worth $198,000 after buying an additional 38 shares during the last quarter. Pure Financial Advisors LLC raised its holdings in Rockwell Automation by 2.7% during the second quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock valued at $444,000 after buying an additional 42 shares in the last quarter. Finally, Great Valley Advisor Group Inc. lifted its position in shares of Rockwell Automation by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 1,928 shares of the industrial products company’s stock worth $518,000 after buying an additional 42 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.