Rockwell Automation, Inc. (NYSE:ROK) – Equities researchers at Gabelli raised their FY2018 earnings estimates for Rockwell Automation in a research note issued on Thursday. Gabelli analyst J. Bergner now expects that the industrial products company will post earnings per share of $7.35 for the year, up from their prior forecast of $7.20. Gabelli also issued estimates for Rockwell Automation’s FY2021 earnings at $9.10 EPS.
A number of other equities research analysts also recently commented on the company. Zacks Investment Research downgraded Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Friday. Citigroup Inc. increased their price objective on Rockwell Automation from $187.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Rockwell Automation in a research report on Thursday. HSBC Holdings plc downgraded Rockwell Automation from a “hold” rating to a “reduce” rating in a research report on Thursday, November 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $183.00 price objective on shares of Rockwell Automation in a research report on Thursday, October 12th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. Rockwell Automation presently has a consensus rating of “Hold” and a consensus price target of $165.00.
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Shares of Rockwell Automation (NYSE ROK) traded up $2.80 during trading hours on Friday, hitting $192.61. The stock had a trading volume of 541,900 shares, compared to its average volume of 864,217. Rockwell Automation has a one year low of $129.28 and a one year high of $210.72. The firm has a market cap of $24,363.86, a P/E ratio of 28.12, a PEG ratio of 2.26 and a beta of 1.24. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.46 and a quick ratio of 1.76.
Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, November 8th. The industrial products company reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.03). Rockwell Automation had a return on equity of 38.67% and a net margin of 13.08%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the company earned $1.52 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 13th will be issued a $0.835 dividend. The ex-dividend date is Friday, November 10th. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.76. This represents a $3.34 dividend on an annualized basis and a yield of 1.73%. Rockwell Automation’s dividend payout ratio is currently 47.95%.
In other Rockwell Automation news, insider Blake D. Moret sold 1,723 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $170.06, for a total transaction of $293,013.38. Following the completion of the sale, the insider now directly owns 22,849 shares in the company, valued at $3,885,700.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Blake D. Moret sold 5,677 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $170.10, for a total transaction of $965,657.70. Following the sale, the insider now owns 21,426 shares of the company’s stock, valued at $3,644,562.60. The disclosure for this sale can be found here. Insiders sold 10,400 shares of company stock valued at $1,753,821 over the last quarter. 1.65% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Rockwell Automation by 7.5% during the second quarter. BlackRock Inc. now owns 9,698,308 shares of the industrial products company’s stock valued at $1,570,735,000 after acquiring an additional 679,645 shares during the period. Vanguard Group Inc. boosted its holdings in Rockwell Automation by 3.2% during the second quarter. Vanguard Group Inc. now owns 8,769,308 shares of the industrial products company’s stock valued at $1,420,278,000 after acquiring an additional 268,101 shares during the period. Lazard Asset Management LLC boosted its holdings in Rockwell Automation by 0.5% during the second quarter. Lazard Asset Management LLC now owns 2,308,357 shares of the industrial products company’s stock valued at $373,861,000 after acquiring an additional 11,384 shares during the period. Ameriprise Financial Inc. boosted its holdings in Rockwell Automation by 47.2% during the third quarter. Ameriprise Financial Inc. now owns 1,558,748 shares of the industrial products company’s stock valued at $277,788,000 after acquiring an additional 499,745 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Rockwell Automation by 12.8% during the third quarter. Wells Fargo & Company MN now owns 1,509,470 shares of the industrial products company’s stock valued at $269,003,000 after acquiring an additional 171,598 shares during the period. Institutional investors own 73.79% 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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