Rockwell Automation, Inc. (NYSE:ROK – Get Rating) – Stock analysts at Zacks Research upped their Q3 2023 earnings per share (EPS) estimates for shares of Rockwell Automation in a research report issued to clients and investors on Monday, May 15th. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings per share of $3.20 for the quarter, up from their prior estimate of $3.18. The consensus estimate for Rockwell Automation’s current full-year earnings is $12.06 per share. Zacks Research also issued estimates for Rockwell Automation’s Q4 2023 earnings at $3.34 EPS, Q1 2024 earnings at $2.17 EPS, FY2024 earnings at $11.14 EPS, Q1 2025 earnings at $2.88 EPS, Q2 2025 earnings at $3.32 EPS and FY2025 earnings at $12.98 EPS.
A number of other brokerages also recently weighed in on ROK. Barclays raised their price objective on Rockwell Automation from $250.00 to $262.00 in a research note on Friday, April 28th. Morgan Stanley reissued an “overweight” rating and issued a $335.00 price objective on shares of Rockwell Automation in a research note on Tuesday, February 14th. Loop Capital raised their price objective on Rockwell Automation from $258.00 to $285.00 in a research note on Tuesday, January 31st. Citigroup raised their price objective on Rockwell Automation from $297.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, January 27th. Finally, Sanford C. Bernstein lifted their price target on Rockwell Automation from $250.00 to $290.00 in a research report on Thursday, May 11th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $267.50.
Rockwell Automation Stock Up 1.7 %
Rockwell Automation (NYSE:ROK – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The industrial products company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.41. Rockwell Automation had a return on equity of 42.15% and a net margin of 15.82%. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the business earned $1.66 EPS. The business’s quarterly revenue was up 25.8% on a year-over-year basis.
Rockwell Automation Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Monday, May 15th will be given a dividend of $1.18 per share. The ex-dividend date is Friday, May 12th. This represents a $4.72 dividend on an annualized basis and a dividend yield of 1.72%. Rockwell Automation’s payout ratio is currently 41.55%.
Insider Transactions at Rockwell Automation
In other news, VP John M. Miller sold 556 shares of the business’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $279.09, for a total transaction of $155,174.04. Following the completion of the sale, the vice president now owns 4,281 shares in the company, valued at $1,194,784.29. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Nicholas C. Gangestad sold 1,975 shares of the company’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $294.25, for a total value of $581,143.75. Following the completion of the sale, the chief financial officer now owns 7,757 shares in the company, valued at $2,282,497.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John M. Miller sold 556 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $279.09, for a total value of $155,174.04. Following the completion of the sale, the vice president now owns 4,281 shares of the company’s stock, valued at approximately $1,194,784.29. The disclosure for this sale can be found here. Insiders sold a total of 2,631 shares of company stock worth $765,751 over the last 90 days. 0.64% of the stock is owned by insiders.
Institutional Investors Weigh In On Rockwell Automation
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROK. Markel Corp grew its stake in Rockwell Automation by 1.3% in the first quarter. Markel Corp now owns 152,900 shares of the industrial products company’s stock valued at $42,816,000 after acquiring an additional 2,000 shares during the period. Sei Investments Co. grew its stake in Rockwell Automation by 10.3% in the first quarter. Sei Investments Co. now owns 57,480 shares of the industrial products company’s stock valued at $16,221,000 after acquiring an additional 5,386 shares during the period. Prudential PLC acquired a new position in Rockwell Automation in the first quarter valued at about $642,000. Sequoia Financial Advisors LLC grew its stake in Rockwell Automation by 3.0% in the first quarter. Sequoia Financial Advisors LLC now owns 3,649 shares of the industrial products company’s stock valued at $1,021,000 after acquiring an additional 107 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Rockwell Automation by 0.9% during the first quarter. Vanguard Group Inc. now owns 11,472,877 shares of the industrial products company’s stock worth $3,212,750,000 after buying an additional 106,641 shares during the period. Institutional investors own 77.66% of the company’s stock.
Rockwell Automation Company Profile
Rockwell Automation, Inc engages in the provision of industrial automation and information services. It operates through the following segments: Intelligent Devices, Software and Control, and Lifecycle Services. The Intelligent Devices segment combines a portfolio of smart products that create the foundation of an agile, resilient, and sustainable production system.
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