Zacks Research Research Analysts Boost Earnings Estimates for Rockwell Automation, Inc. (NYSE:ROK)

Rockwell Automation, Inc. (NYSE:ROK – Get Rating) – Analysts at Zacks Research boosted their Q3 2024 earnings per share (EPS) estimates for Rockwell Automation in a note issued to investors on Monday, May 15th. Zacks Research analyst M. Das now expects that the industrial products company will post earnings per share of $2.94 for the quarter, up from their prior forecast of $2.93. The consensus estimate for Rockwell Automation’s current full-year earnings is $12.06 per share.

ROK has been the topic of a number of other research reports. Oppenheimer lifted their price objective on Rockwell Automation from $278.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday, January 24th. Citigroup upped their price target on shares of Rockwell Automation from $297.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, January 27th. Sanford C. Bernstein increased their price target on shares of Rockwell Automation from $250.00 to $290.00 in a research report on Thursday, May 11th. Barclays increased their price objective on shares of Rockwell Automation from $250.00 to $262.00 in a research note on Friday, April 28th. Finally, Cowen raised their price target on shares of Rockwell Automation from $200.00 to $220.00 and gave the company an “underperform” rating in a research note on Monday, January 30th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Rockwell Automation currently has an average rating of “Hold” and an average target price of $267.50.

Rockwell Automation Price Performance

Shares of ROK opened at $281.11 on Thursday. The firm’s fifty day simple moving average is $278.75 and its 200-day simple moving average is $274.77. Rockwell Automation has a twelve month low of $190.08 and a twelve month high of $309.36. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $32.29 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.98 and a beta of 1.42.

Rockwell Automation (NYSE:ROK – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The industrial products company reported $3.01 EPS for the quarter, beating the consensus estimate of $2.60 by $0.41. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.09 billion. Rockwell Automation had a net margin of 15.82% and a return on equity of 42.15%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.66 earnings per share.

Institutional Trading of Rockwell Automation

Several institutional investors and hedge funds have recently made changes to their positions in ROK. Markel Corp increased its stake in Rockwell Automation by 1.3% in the 1st quarter. Markel Corp now owns 152,900 shares of the industrial products company’s stock valued at $42,816,000 after purchasing an additional 2,000 shares in the last quarter. Sei Investments Co. increased its holdings 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 buying an additional 5,386 shares during the last quarter. Prudential PLC acquired a new position in shares of Rockwell Automation during the first quarter worth approximately $642,000. Sequoia Financial Advisors LLC lifted its position in shares of Rockwell Automation by 3.0% during the 1st 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 last quarter. Finally, Vanguard Group Inc. raised its stake in Rockwell Automation by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 11,472,877 shares of the industrial products company’s stock valued at $3,212,750,000 after purchasing an additional 106,641 shares during the period. 77.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rockwell Automation

In related news, VP Scott Genereux sold 500 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $280.00, for a total value of $140,000.00. Following the transaction, the vice president now directly owns 3,376 shares of the company’s stock, valued at approximately $945,280. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Scott Genereux sold 500 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $280.00, for a total transaction of $140,000.00. Following the completion of the sale, the vice president now directly owns 3,376 shares in the company, valued at approximately $945,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Nicholas C. Gangestad sold 1,975 shares of the firm’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 sale, the chief financial officer now directly owns 7,757 shares in the company, valued at $2,282,497.25. The disclosure for this sale can be found here. Insiders sold a total of 3,131 shares of company stock worth $905,751 in the last three months. 0.64% of the stock is currently owned by company insiders.

Rockwell Automation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Shareholders of record on Monday, May 15th will be paid 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 1.68%. Rockwell Automation’s dividend payout ratio is currently 41.55%.

About Rockwell Automation

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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.