Rockwell Automation (NYSE:ROK) Price Target Lowered to $240.00 at HSBC

Rockwell Automation (NYSE:ROKGet Rating) had its price objective cut by HSBC from $293.00 to $240.00 in a research note issued to investors on Tuesday morning, The Fly reports.

Several other research analysts have also recently weighed in on ROK. Citigroup decreased their price target on shares of Rockwell Automation from $357.00 to $310.00 in a report on Wednesday, May 4th. The Goldman Sachs Group reduced their target price on Rockwell Automation from $294.00 to $252.00 and set a sell rating on the stock in a research note on Thursday, April 7th. Morgan Stanley reduced their target price on Rockwell Automation from $395.00 to $360.00 and set an overweight rating on the stock in a research note on Thursday, April 7th. JPMorgan Chase & Co. reduced their target price on Rockwell Automation from $220.00 to $200.00 in a research note on Thursday, May 5th. Finally, Mizuho reduced their target price on Rockwell Automation from $345.00 to $215.00 in a research note on Wednesday, May 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Rockwell Automation currently has an average rating of Hold and an average target price of $276.06.

Rockwell Automation stock opened at $203.82 on Tuesday. The stock has a market cap of $23.70 billion, a P/E ratio of 37.06, a PEG ratio of 2.60 and a beta of 1.41. Rockwell Automation has a fifty-two week low of $197.10 and a fifty-two week high of $354.99. The firm’s fifty day moving average price is $258.01 and its 200-day moving average price is $297.05. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 1.09.

Rockwell Automation (NYSE:ROKGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.60). The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.98 billion. Rockwell Automation had a return on equity of 35.96% and a net margin of 8.81%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.41 EPS. Sell-side analysts predict that Rockwell Automation will post 9.3 earnings per share for the current year.

Rockwell Automation announced that its board has authorized a share buyback program on Tuesday, May 3rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Monday, May 16th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, May 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.20%. Rockwell Automation’s dividend payout ratio is currently 81.45%.

In related news, Director Patricia A. Watson acquired 1,110 shares of the stock in a transaction on Thursday, May 5th. The stock was acquired at an average cost of $219.58 per share, for a total transaction of $243,733.80. Following the completion of the acquisition, the director now directly owns 4,827 shares of the company’s stock, valued at approximately $1,059,912.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.68% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Advisory Group Advisory Services LLC bought a new position in shares of Rockwell Automation during the first quarter valued at approximately $28,000. Roble Belko & Company Inc increased its stake in shares of Rockwell Automation by 3,233.3% during the first quarter. Roble Belko & Company Inc now owns 100 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. D Orazio & Associates Inc. increased its stake in shares of Rockwell Automation by 69.8% during the third quarter. D Orazio & Associates Inc. now owns 107 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 44 shares in the last quarter. Dixon Hughes Goodman Wealth Advisors LLC increased its stake in shares of Rockwell Automation by 419.0% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 109 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 88 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its stake in shares of Rockwell Automation by 64.3% during the fourth quarter. Harbor Investment Advisory LLC now owns 92 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 36 shares in the last quarter. 78.21% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Company Profile (Get Rating)

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.

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