Rockwell Automation, Inc. (NYSE:ROK) declared a quarterly dividend on Thursday, June 3rd, RTT News reports. Stockholders of record on Monday, August 16th will be given a dividend of 1.07 per share by the industrial products company on Friday, September 10th. This represents a $4.28 annualized dividend and a dividend yield of 1.56%.
Rockwell Automation has increased its dividend payment by 32.6% over the last three years and has raised its dividend annually for the last 11 consecutive years. Rockwell Automation has a dividend payout ratio of 46.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Rockwell Automation to earn $9.80 per share next year, which means the company should continue to be able to cover its $4.28 annual dividend with an expected future payout ratio of 43.7%.
Shares of NYSE ROK traded up $2.81 during midday trading on Thursday, hitting $274.63. 19,714 shares of the stock traded hands, compared to its average volume of 690,036. The stock has a 50-day moving average price of $264.89. The stock has a market capitalization of $31.88 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 3.00 and a beta of 1.36. The company has a quick ratio of 1.07, a current ratio of 1.39 and a debt-to-equity ratio of 0.93. Rockwell Automation has a one year low of $200.60 and a one year high of $275.43.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Tuesday, April 27th. The industrial products company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.26. The firm had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $1.73 billion. Rockwell Automation had a return on equity of 57.72% and a net margin of 25.20%. The company's revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.43 EPS. On average, equities analysts anticipate that Rockwell Automation will post 9.21 earnings per share for the current year.
In related news, SVP Rebecca W. House sold 4,600 shares of the stock in a transaction dated Friday, May 7th. The shares were sold at an average price of $270.01, for a total value of $1,242,046.00. Following the completion of the transaction, the senior vice president now owns 9,885 shares of the company's stock, valued at approximately $2,669,048.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Rebecca W. House sold 6,268 shares of the stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $265.21, for a total transaction of $1,662,336.28. Following the completion of the transaction, the senior vice president now directly owns 12,421 shares of the company's stock, valued at approximately $3,294,173.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,376 shares of company stock valued at $4,899,661. Company insiders own 0.79% of the company's stock.
A number of equities analysts recently commented on the company. Rosenblatt Securities raised their target price on Rockwell Automation from $240.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, May 3rd. Oppenheimer raised their target price on Rockwell Automation from $280.00 to $286.00 and gave the stock an "outperform" rating in a report on Thursday, April 29th. JPMorgan Chase & Co. raised their target price on Rockwell Automation from $189.00 to $205.00 and gave the stock an "underweight" rating in a report on Wednesday, May 12th. Deutsche Bank Aktiengesellschaft raised their target price on Rockwell Automation from $242.00 to $268.00 and gave the stock a "hold" rating in a report on Tuesday, April 13th. Finally, Morgan Stanley increased their price target on Rockwell Automation from $300.00 to $313.00 and gave the stock an "overweight" rating in a research note on Thursday, April 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of "Hold" and an average price target of $266.50.
Rockwell Automation Company Profile
Rockwell Automation, Inc provides industrial automation and digital transformation solutions. The company operates in two segments, Architecture & Software, and Control Products & Solutions. The Architecture & Software segment offers a portfolio of automation and information platforms, including hardware and software.
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