Equities analysts expect that Rockwell Automation (NYSE:ROK) will announce $1.64 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Rockwell Automation’s earnings, with the highest sales estimate coming in at $1.65 billion and the lowest estimate coming in at $1.62 billion. Rockwell Automation reported sales of $1.59 billion during the same quarter last year, which indicates a positive year over year growth rate of 3.1%. The firm is expected to report its next quarterly earnings report on Wednesday, January 23rd.
According to Zacks, analysts expect that Rockwell Automation will report full-year sales of $6.98 billion for the current fiscal year, with estimates ranging from $6.91 billion to $7.08 billion. For the next fiscal year, analysts expect that the firm will report sales of $7.27 billion, with estimates ranging from $7.03 billion to $7.43 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Rockwell Automation.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $2.11 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm posted $1.69 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis.
ROK has been the subject of several analyst reports. Citigroup set a $185.00 price objective on shares of Rockwell Automation and gave the stock a “hold” rating in a research note on Thursday, November 8th. Wells Fargo & Co decreased their price target on shares of Rockwell Automation from $210.00 to $205.00 and set an “outperform” rating on the stock in a report on Thursday, November 8th. Zacks Investment Research raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $183.00 target price on the stock in a report on Tuesday, October 23rd. Cowen lowered shares of Rockwell Automation from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $175.00 to $150.00 in a report on Monday, October 15th. Finally, Credit Suisse Group boosted their price target on shares of Rockwell Automation from $171.00 to $173.00 and gave the stock an “underperform” rating in a research report on Thursday, November 8th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $178.87.
In other Rockwell Automation news, insider Theodore D. Crandall sold 13,420 shares of the business’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $175.77, for a total value of $2,358,833.40. Following the completion of the transaction, the insider now owns 95,994 shares of the company’s stock, valued at approximately $16,872,865.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Blake D. Moret sold 5,584 shares of the business’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $175.97, for a total value of $982,616.48. Following the completion of the transaction, the chief executive officer now directly owns 41,196 shares of the company’s stock, valued at approximately $7,249,260.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,547 shares of company stock valued at $6,070,978. 1.65% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in ROK. Alecta Pensionsforsakring Omsesidigt raised its holdings in shares of Rockwell Automation by 14.7% during the 3rd quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,728,265 shares of the industrial products company’s stock worth $511,632,000 after acquiring an additional 350,000 shares in the last quarter. Franklin Resources Inc. grew its position in Rockwell Automation by 7.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,847,004 shares of the industrial products company’s stock valued at $346,362,000 after acquiring an additional 128,265 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Rockwell Automation by 7.4% during the 3rd quarter. Wells Fargo & Company MN now owns 1,466,948 shares of the industrial products company’s stock worth $275,082,000 after buying an additional 101,289 shares in the last quarter. Bank of America Corp DE grew its position in shares of Rockwell Automation by 23.2% during the 2nd quarter. Bank of America Corp DE now owns 1,224,685 shares of the industrial products company’s stock worth $203,581,000 after buying an additional 230,688 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Rockwell Automation by 17.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,106,721 shares of the industrial products company’s stock worth $207,533,000 after buying an additional 164,984 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.
NYSE ROK opened at $167.25 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.76. The stock has a market cap of $20.69 billion, a PE ratio of 20.62, a P/E/G ratio of 1.63 and a beta of 1.29. Rockwell Automation has a 52-week low of $153.67 and a 52-week high of $209.38.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Monday, November 12th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $3.88 annualized dividend and a yield of 2.32%. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.92. Rockwell Automation’s dividend payout ratio (DPR) is currently 47.84%.
Rockwell Automation declared that its board has initiated a stock repurchase program on Thursday, September 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
About Rockwell Automation
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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