Rockwell Automation (NYSE:ROK) Shares Gap Up After Better-Than-Expected Earnings

Rockwell Automation, Inc. (NYSE:ROK)’s stock price gapped up before the market opened on Monday after the company announced better than expected quarterly earnings. The stock had previously closed at $268.40, but opened at $290.67. Rockwell Automation shares last traded at $294.53, with a volume of 419,357 shares changing hands.

The industrial products company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%.

Rockwell Automation Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently issued reports on ROK shares. KeyCorp raised Rockwell Automation from a “sector weight” rating to an “overweight” rating and set a $345.00 target price on the stock in a report on Monday, December 9th. Oppenheimer lifted their price objective on shares of Rockwell Automation from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Tuesday. The Goldman Sachs Group increased their target price on shares of Rockwell Automation from $257.00 to $290.00 and gave the company a “sell” rating in a research note on Tuesday. Morgan Stanley lifted their price target on shares of Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Bank of America upped their price target on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Three research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $307.55.

Insider Buying and Selling

In other news, VP John M. Miller sold 467 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $284.07, for a total transaction of $132,660.69. Following the transaction, the vice president now owns 4,800 shares of the company’s stock, valued at approximately $1,363,536. This represents a 8.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Scott Genereux sold 279 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $296.13, for a total value 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 approximately $856,111.83. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,857 shares of company stock worth $10,678,037. 0.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rockwell Automation

Hedge funds have recently bought and sold shares of the company. Richardson Financial Services Inc. increased its position in Rockwell Automation by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 48 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Rockwell Automation in the 3rd quarter worth $26,000. West Oak Capital LLC increased its holdings in shares of Rockwell Automation by 455.6% during the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 82 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Rockwell Automation during the third quarter valued at about $34,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Rockwell Automation in the fourth quarter valued at about $34,000. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Trading Up 0.5 %

The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $34.36 billion, a price-to-earnings ratio of 36.71, a P/E/G ratio of 2.89 and a beta of 1.35. The business has a 50-day moving average of $285.82 and a two-hundred day moving average of $275.28.

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.