Brokerages expect Rockwell Automation (NYSE:ROK) to post $1.99 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have made estimates for Rockwell Automation’s earnings, with the lowest EPS estimate coming in at $1.96 and the highest estimate coming in at $2.02. Rockwell Automation reported earnings of $1.96 per share during the same quarter last year, which indicates a positive year over year growth rate of 1.5%. The company is expected to issue its next quarterly earnings report on Wednesday, January 23rd.
According to Zacks, analysts expect that Rockwell Automation will report full-year earnings of $9.05 per share for the current year, with EPS estimates ranging from $8.89 to $9.26. For the next year, analysts expect that the company will report earnings of $9.75 per share, with EPS estimates ranging from $9.20 to $10.05. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Rockwell Automation.
Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, November 7th. The industrial products company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.09. Rockwell Automation had a net margin of 8.03% and a return on equity of 57.53%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm earned $1.69 earnings per share. Rockwell Automation’s quarterly revenue was up 3.7% compared to the same quarter last year.
In related news, SVP Sujeet Chand sold 3,547 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $176.25, for a total transaction of $625,158.75. Following the sale, the senior vice president now directly owns 51,527 shares of the company’s stock, valued at approximately $9,081,633.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Theodore D. Crandall sold 13,420 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $175.77, for a total transaction of $2,358,833.40. Following the sale, the insider now directly owns 95,994 shares in the company, valued at $16,872,865.38. The disclosure for this sale can be found here. Insiders sold a total of 34,547 shares of company stock worth $6,070,978 over the last three months. Insiders own 1.65% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Carnegie Capital Asset Management LLC increased its stake in Rockwell Automation by 10.1% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 104,573 shares of the industrial products company’s stock worth $17,937,000 after buying an additional 9,598 shares during the period. Belpointe Asset Management LLC purchased a new stake in Rockwell Automation during the 3rd quarter worth approximately $149,000. Paradigm Asset Management Co. LLC increased its stake in Rockwell Automation by 57.1% during the 3rd quarter. Paradigm Asset Management Co. LLC now owns 5,500 shares of the industrial products company’s stock worth $1,031,000 after buying an additional 2,000 shares during the period. Neuberger Berman Group LLC increased its stake in Rockwell Automation by 19.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 724,420 shares of the industrial products company’s stock worth $135,844,000 after buying an additional 117,816 shares during the period. Finally, Kentucky Retirement Systems purchased a new stake in Rockwell Automation during the 3rd quarter worth approximately $1,353,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ROK stock opened at $161.55 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. Rockwell Automation has a 12 month low of $153.67 and a 12 month high of $209.38. The stock has a market cap of $20.69 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.63 and a beta of 1.29.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 12th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase from Rockwell Automation’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Thursday, November 8th. Rockwell Automation’s payout ratio is 47.84%.
Rockwell Automation announced that its board has initiated a share repurchase plan on Thursday, September 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
Rockwell Automation Company Profile
Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.
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