Rockwell Automation (NYSE:ROK) Sets New 1-Year High on Better-Than-Expected Earnings

Rockwell Automation, Inc. (NYSE:ROK)’s stock price hit a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $308.70 and last traded at $302.14, with a volume of 2936299 shares trading hands. The stock had previously closed at $268.40.

The industrial products company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Tuesday, February 18th will be given a $1.31 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.72%. Rockwell Automation’s dividend payout ratio is presently 65.26%.

Analyst Ratings Changes

ROK has been the topic of several recent analyst reports. Barclays increased their target price on shares of Rockwell Automation from $285.00 to $300.00 and gave the company an “equal weight” rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating for the company in a research note on Wednesday, January 15th. HSBC raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 price objective for the company in a research report on Wednesday, December 11th. Bank of America increased their price target on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Oppenheimer lifted their price objective on Rockwell Automation from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $307.55.

Insider Transactions at Rockwell Automation

In related news, VP Scott Genereux sold 279 shares of Rockwell Automation stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $296.13, for a total transaction of $82,620.27. Following the completion of the sale, the vice president now owns 2,891 shares of the company’s stock, valued at $856,111.83. The trade was a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John M. Miller sold 467 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $284.07, for a total transaction of $132,660.69. Following the completion of the transaction, the vice president now owns 4,800 shares in the company, valued at approximately $1,363,536. This trade represents a 8.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,857 shares of company stock valued at $10,678,037. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of Rockwell Automation

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Rockwell Automation by 238.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 864 shares of the industrial products company’s stock valued at $232,000 after buying an additional 609 shares during the period. Ritholtz Wealth Management acquired a new position in Rockwell Automation in the third quarter valued at approximately $214,000. Fiduciary Alliance LLC purchased a new stake in Rockwell Automation in the 3rd quarter worth approximately $234,000. Creative Planning grew its stake in shares of Rockwell Automation by 3.2% during the 3rd quarter. Creative Planning now owns 25,927 shares of the industrial products company’s stock worth $6,960,000 after purchasing an additional 807 shares during the period. Finally, Cabot Wealth Management Inc. increased its holdings in shares of Rockwell Automation by 1.2% during the 3rd quarter. Cabot Wealth Management Inc. now owns 45,809 shares of the industrial products company’s stock valued at $12,298,000 after purchasing an additional 555 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

The firm’s 50 day moving average is $285.82 and its 200-day moving average is $275.28. The stock has a market capitalization of $34.36 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 2.89 and a beta of 1.35. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08.

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.