Rockwell Automation, Inc. (ROK) Expected to Earn FY2019 Earnings of $7.90 Per Share
Rockwell Automation, Inc. (NYSE:ROK) – Research analysts at Gabelli raised their FY2019 earnings estimates for shares of Rockwell Automation in a note issued to investors on Thursday. Gabelli analyst J. Bergner now anticipates that the industrial products company will earn $7.90 per share for the year, up from their prior estimate of $7.80. Gabelli also issued estimates for Rockwell Automation’s FY2020 earnings at $8.50 EPS.
ROK has been the subject of a number of other reports. Credit Suisse Group reissued a “neutral” rating and set a $174.00 price target (up from $154.00) on shares of Rockwell Automation in a research note on Wednesday, October 11th. Zacks Investment Research raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $182.00 price target for the company in a research note on Friday, July 28th. Cowen and Company reissued a “hold” rating and set a $140.00 price target on shares of Rockwell Automation in a research note on Sunday, September 17th. Citigroup Inc. reissued a “neutral” rating and set a $187.00 price target (up from $175.00) on shares of Rockwell Automation in a research note on Monday, October 9th. Finally, J P Morgan Chase & Co raised Rockwell Automation from an “underweight” rating to a “neutral” rating and set a $153.00 price objective for the company in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. Rockwell Automation presently has a consensus rating of “Hold” and an average target price of $165.00.
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Shares of Rockwell Automation (NYSE:ROK) traded down $0.07 during trading on Monday, reaching $192.54. The company had a trading volume of 632,200 shares, compared to its average volume of 863,158. Rockwell Automation has a 52 week low of $129.66 and a 52 week high of $210.72. The company has a market capitalization of $24,723.27, a price-to-earnings ratio of 28.53, a PEG ratio of 2.21 and a beta of 1.24. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.00 and a current ratio of 3.46.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.03). Rockwell Automation had a net margin of 13.08% and a return on equity of 38.67%. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the company posted $1.52 earnings per share. Rockwell Automation’s quarterly revenue was up 8.4% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 13th will be paid a dividend of $0.835 per share. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.76. This represents a $3.34 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Friday, November 10th. Rockwell Automation’s dividend payout ratio (DPR) is currently 52.68%.
In related news, insider Blake D. Moret sold 5,677 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $170.10, for a total transaction of $965,657.70. Following the completion of the sale, the insider now directly owns 21,426 shares of the company’s stock, valued at approximately $3,644,562.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David M. Dorgan sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the sale, the vice president now directly owns 9,355 shares of the company’s stock, valued at $1,544,042.75. The disclosure for this sale can be found here. Insiders have sold a total of 10,400 shares of company stock valued at $1,753,821 over the last three months. 1.65% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROK. Bank of Montreal Can increased its holdings in Rockwell Automation by 10.4% during the 2nd quarter. Bank of Montreal Can now owns 216,113 shares of the industrial products company’s stock worth $35,002,000 after purchasing an additional 20,406 shares during the period. NN Investment Partners Holdings N.V. increased its holdings in Rockwell Automation by 132.1% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 5,452 shares of the industrial products company’s stock worth $883,000 after purchasing an additional 3,103 shares during the period. Fisher Asset Management LLC increased its holdings in Rockwell Automation by 36.2% during the 2nd quarter. Fisher Asset Management LLC now owns 112,110 shares of the industrial products company’s stock worth $18,157,000 after purchasing an additional 29,809 shares during the period. State of Alaska Department of Revenue increased its holdings in Rockwell Automation by 5.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,651 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 90 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in Rockwell Automation by 110.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 5,917 shares of the industrial products company’s stock worth $959,000 after purchasing an additional 3,111 shares during the period. Institutional investors own 72.90% of the company’s stock.
About Rockwell Automation
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
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