Rockwell Automation: Analyst Targets Climb
KeyCorp Raises Price Target
KeyCorp recently increased its price target for Rockwell Automation (NYSE: ROK). They moved it from $360.00 to $370.00. KeyCorp published this report on Tuesday. They maintain an "overweight" rating on the stock. Benzinga reported on this positive news.
Brokerages Offer Fresh Perspectives
Other brokerages also covered ROK recently. CICC Research began coverage on July 7th. They set an "outperform" rating. Their price target stands at $381.00. Bank of America raised its target to $360.00 on July 2nd. They give the company a "neutral" rating. Citigroup reissued a "buy" rating. They increased their target to $392.00 on Monday. JPMorgan Chase & Co. raised its target to $299.00. This happened on May 16th; they have a "neutral" rating. Wells Fargo & Company also boosted its price objective. They moved it to $365.00 on July 1st. Wells Fargo maintains an "overweight" rating.
Analyst Consensus and Market Snapshot
One analyst rates ROK as a "sell." Five suggest a "hold." Twelve recommend a "buy." One gives a "strong buy" rating. MarketBeat.com data shows an average "Moderate Buy." The consensus target price is $341.11. Rockwell Automation opened at $356.82 on Tuesday. Its 1-year low is $215.00. The 1-year high reached $357.64. The company's market capitalization is $40.22 billion. Its P/E ratio is 44.94. The PEG ratio stands at 3.95. Beta is 1.38.
Financial Health and Performance
The stock's 50-day moving average is $323.60. Its 200-day moving average is $286.79. The current ratio sits at 1.05. The quick ratio is 0.72. Debt-to-equity is 0.71. Rockwell Automation announced earnings on May 7th. They reported $2.45 EPS. This beat the $2.09 consensus by $0.36. Revenue was $2 billion. Analysts expected $1.97 billion. Last year, EPS was $2.50. Quarterly revenue decreased 5.9% year-over-year. Analysts forecast $9.35 EPS for the current fiscal year.
Dividends and Insider Activity
Rockwell Automation declared a quarterly dividend. It pays on September 10th. Investors of record on August 18th get $1.31. This is $5.24 annually, a 1.47% yield. The ex-dividend date is August 18th. The payout ratio is 65.99%. SVP Matthew W. Fordenwalt sold 289 shares. This transaction occurred on June 9th. The sale totaled $94,309.37. VP Terry L. Riesterer sold 269 shares. This happened on July 17th. The sale totaled $95,564.94. Insiders sold $3,138,220 worth of stock. This includes 9,757 shares in three months. Company insiders own 0.68% of the stock.
Institutional Investor Movements
Institutional investors adjusted their ROK holdings. Citizens National Bank Trust Department bought new shares. Financial Gravity Asset Management Inc. also acquired new positions. IMA Advisory Services Inc. initiated a new stake. Cooksen Wealth LLC purchased new shares. Parvin Asset Management LLC bought a new stake. Institutional investors own 75.75% of the company.
About Rockwell Automation
Rockwell Automation, Inc. provides industrial automation and digital transformation solutions. They serve North America, Europe, and Asia Pacific. Their solutions include hardware, software, and services. The company has three segments. These are Intelligent Devices, Software & Control, and Lifecycle Services.