Rockwell Automation (NYSE:ROK) PT Lowered to $270.00 at Bank of America

Rockwell Automation (NYSE:ROK) had its price target decreased by Bank of America from $300.00 to $270.00 in a report released on Thursday, Benzinga reports. Bank of America currently has a neutral rating on the industrial products company’s stock.

ROK has been the subject of a number of other reports. Wells Fargo & Company decreased their price target on Rockwell Automation from $305.00 to $293.00 and set an overweight rating for the company in a research report on Thursday. Redburn Atlantic initiated coverage on Rockwell Automation in a research report on Monday, July 8th. They set a neutral rating and a $256.00 target price on the stock. Loop Capital cut their price target on shares of Rockwell Automation from $300.00 to $290.00 and set a hold rating for the company in a report on Tuesday, May 14th. Oppenheimer cut their price target on shares of Rockwell Automation from $295.00 to $270.00 and set an outperform rating for the company in a research report on Thursday. Finally, Robert W. Baird decreased their price objective on Rockwell Automation from $304.00 to $280.00 and set an outperform rating on the stock in a report on Thursday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Rockwell Automation currently has an average rating of Hold and an average price target of $282.07.

Rockwell Automation Trading Down 0.4 %

ROK stock traded down $0.99 during midday trading on Thursday, hitting $258.15. The stock had a trading volume of 625,371 shares, compared to its average volume of 966,854. The firm has a market cap of $29.43 billion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 4.71 and a beta of 1.37. The business has a fifty day moving average price of $265.32 and a two-hundred day moving average price of $273.93. The company has a current ratio of 1.11, a quick ratio of 0.74 and a debt-to-equity ratio of 0.69. Rockwell Automation has a 1-year low of $242.81 and a 1-year high of $317.74.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.63. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The company’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.01 earnings per share. On average, sell-side analysts predict that Rockwell Automation will post 10.07 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Monday, August 12th. Rockwell Automation’s dividend payout ratio is currently 48.88%.

Insider Buying and Selling

In other Rockwell Automation news, SVP Cyril Perducat sold 659 shares of Rockwell Automation stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $260.11, for a total transaction of $171,412.49. Following the completion of the sale, the senior vice president now owns 4,630 shares of the company’s stock, valued at approximately $1,204,309.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Cyril Perducat sold 659 shares of Rockwell Automation stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $260.11, for a total value of $171,412.49. Following the completion of the transaction, the senior vice president now owns 4,630 shares in the company, valued at approximately $1,204,309.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP John M. Miller sold 467 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $273.27, for a total value of $127,617.09. Following the completion of the transaction, the vice president now owns 4,800 shares in the company, valued at approximately $1,311,696. The disclosure for this sale can be found here. Insiders have sold a total of 2,199 shares of company stock valued at $572,750 over the last quarter. 0.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ROK. Pathway Financial Advisers LLC purchased a new stake in Rockwell Automation during the first quarter worth approximately $26,000. Riverview Trust Co acquired a new stake in shares of Rockwell Automation during the 1st quarter valued at approximately $28,000. Bfsg LLC purchased a new position in shares of Rockwell Automation in the first quarter valued at $29,000. ESL Trust Services LLC purchased a new position in Rockwell Automation during the 1st quarter valued at about $29,000. Finally, Security National Bank purchased a new position in shares of Rockwell Automation during the 4th quarter worth approximately $40,000. Hedge funds and other 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.