JPMorgan Chase & Co. Lowers Rockwell Automation (NYSE:ROK) Price Target to $240.00

Rockwell Automation (NYSE:ROK) had its target price trimmed by JPMorgan Chase & Co. from $245.00 to $240.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an underweight rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the company. BNP Paribas assumed coverage on Rockwell Automation in a research report on Wednesday, November 13th. They set an “outperform” rating and a $345.00 price target on the stock. Citigroup upped their price target on shares of Rockwell Automation from $313.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Robert W. Baird lifted their price objective on shares of Rockwell Automation from $290.00 to $305.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Mizuho upped their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company lifted their price target on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $304.16.

Rockwell Automation Stock Performance

Shares of ROK stock opened at $287.06 on Wednesday. Rockwell Automation has a 12 month low of $242.81 and a 12 month high of $307.71. The company’s fifty day simple moving average is $287.58 and its 200-day simple moving average is $274.10. The firm has a market cap of $32.45 billion, a PE ratio of 34.67, a P/E/G ratio of 2.87 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROK) last issued its quarterly 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 revenue for the quarter was down 20.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.64 EPS. Equities research analysts expect that Rockwell Automation will post 9.37 EPS for the current fiscal year.

Rockwell Automation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.31 dividend. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Monday, November 18th. Rockwell Automation’s payout ratio is 63.29%.

Insiders Place Their Bets

In related news, VP John M. Miller sold 467 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $284.07, for a total value of $132,660.69. Following the completion of the transaction, the vice president now owns 4,800 shares of the company’s stock, valued at $1,363,536. The trade was a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Scott Genereux sold 278 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $302.04, for a total transaction of $83,967.12. Following the sale, the vice president now owns 3,184 shares in the company, valued at $961,695.36. The trade was a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,436 shares of company stock worth $10,832,549 in the last 90 days. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Rockwell Automation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Accredited Investors Inc. raised its holdings in shares of Rockwell Automation by 162,058.5% during the 3rd quarter. Accredited Investors Inc. now owns 1,185,379 shares of the industrial products company’s stock worth $318,227,000 after buying an additional 1,184,648 shares in the last quarter. International Assets Investment Management LLC raised its stake in Rockwell Automation by 29,591.7% during the third quarter. International Assets Investment Management LLC now owns 936,178 shares of the industrial products company’s stock worth $251,326,000 after acquiring an additional 933,025 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rockwell Automation by 33.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,556,292 shares of the industrial products company’s stock worth $417,802,000 after acquiring an additional 390,784 shares during the last quarter. Electron Capital Partners LLC boosted its stake in shares of Rockwell Automation by 484.5% in the 2nd quarter. Electron Capital Partners LLC now owns 412,371 shares of the industrial products company’s stock valued at $104,779,000 after purchasing an additional 341,814 shares in the last quarter. Finally, Interval Partners LP grew its holdings in shares of Rockwell Automation by 479,608.6% during the 2nd quarter. Interval Partners LP now owns 335,656 shares of the industrial products company’s stock valued at $92,399,000 after purchasing an additional 335,726 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Company Profile

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.