Rockwell Automation (NYSE:ROK) Issues Earnings Results

Rockwell Automation (NYSE:ROK) released its quarterly earnings data on Wednesday. The industrial products company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.63, RTT News reports. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the company posted $3.01 earnings per share. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. Rockwell Automation updated its FY24 guidance to $9.60 EPS and its FY 2024 guidance to 9.600-9.600 EPS.

Rockwell Automation Price Performance

NYSE:ROK traded down $1.36 during trading hours on Wednesday, reaching $249.41. 1,554,442 shares of the company traded hands, compared to its average volume of 969,698. Rockwell Automation has a 1-year low of $242.81 and a 1-year high of $317.74. The firm’s 50-day moving average is $265.39 and its 200-day moving average is $274.76. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.11 and a quick ratio of 0.74. The stock has a market cap of $28.43 billion, a P/E ratio of 24.51, a P/E/G ratio of 4.71 and a beta of 1.37.

Rockwell Automation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 12th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Monday, August 12th. Rockwell Automation’s dividend payout ratio (DPR) is presently 48.88%.

Analyst Ratings Changes

Several research firms recently issued reports on ROK. Wells Fargo & Company cut their price objective on Rockwell Automation from $312.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Mizuho reduced their price objective on Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Redburn Atlantic assumed coverage on Rockwell Automation in a research note on Monday, July 8th. They set a “neutral” rating and a $256.00 price objective for the company. Loop Capital cut their target price on Rockwell Automation from $300.00 to $290.00 and set a “hold” rating for the company in a research note on Tuesday, May 14th. Finally, Robert W. Baird cut their target price on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Rockwell Automation presently has an average rating of “Hold” and a consensus target price of $294.17.

Insider Transactions at Rockwell Automation

In other news, SVP Cyril Perducat sold 659 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $260.11, for a total transaction of $171,412.49. Following the sale, the senior vice president now owns 4,630 shares in the company, valued at $1,204,309.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Cyril Perducat sold 659 shares of Rockwell Automation stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $260.11, for a total value of $171,412.49. Following the completion of the transaction, the senior vice president now directly owns 4,630 shares in the company, valued at $1,204,309.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Isaac Woods sold 297 shares of Rockwell Automation stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $256.38, for a total value of $76,144.86. Following the completion of the transaction, the vice president now owns 1,833 shares of the company’s stock, valued at $469,944.54. The disclosure for this sale can be found here. Insiders have sold 2,199 shares of company stock worth $572,750 over the last quarter. 0.68% of the stock is currently owned by insiders.

Rockwell Automation Company Profile

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.