Rockwell Automation, Inc. Declares Quarterly Dividend of $1.31 (NYSE:ROK)

Rockwell Automation, Inc. (NYSE:ROK - Get Free Report) declared a quarterly dividend on Thursday, June 12th, Wall Street Journal reports. Investors of record on Monday, August 18th will be paid a dividend of 1.31 per share by the industrial products company on Wednesday, September 10th. This represents a $5.24 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Monday, August 18th.

Rockwell Automation has a dividend payout ratio of 46.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Rockwell Automation to earn $11.07 per share next year, which means the company should continue to be able to cover its $5.24 annual dividend with an expected future payout ratio of 47.3%.

Rockwell Automation Stock Performance

Shares of NYSE ROK traded down $7.78 during midday trading on Friday, hitting $317.36. 696,490 shares of the company's stock traded hands, compared to its average volume of 884,643. Rockwell Automation has a 1 year low of $215.00 and a 1 year high of $328.90. The stock has a market capitalization of $35.77 billion, a price-to-earnings ratio of 39.52, a price-to-earnings-growth ratio of 3.53 and a beta of 1.38. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08. The firm has a fifty day moving average of $279.47 and a 200 day moving average of $279.78.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the firm posted $2.50 EPS. The firm's quarterly revenue was down 5.9% compared to the same quarter last year. On average, analysts forecast that Rockwell Automation will post 9.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

ROK has been the subject of a number of research reports. Barclays upgraded Rockwell Automation from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $283.00 to $350.00 in a research report on Friday, May 30th. TD Cowen upgraded Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 price target on the stock in a research note on Friday, May 9th. Oppenheimer raised their price objective on Rockwell Automation from $258.00 to $304.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Loop Capital raised their price target on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Thursday, May 15th. Finally, Citigroup lifted their target price on Rockwell Automation from $327.00 to $371.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Rockwell Automation currently has an average rating of "Moderate Buy" and an average target price of $317.79.

Insider Activity at Rockwell Automation

In other news, SVP Matthew W. Fordenwalt sold 500 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $295.01, for a total transaction of $147,505.00. Following the completion of the sale, the senior vice president now directly owns 2,838 shares of the company's stock, valued at $837,238.38. This trade represents a 14.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Matheus De A. G. Viera Bulho sold 526 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total value of $171,134.10. Following the sale, the senior vice president now directly owns 983 shares of the company's stock, valued at approximately $319,819.05. This represents a 34.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,681 shares of company stock worth $2,382,987 in the last three months. 0.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC acquired a new stake in Rockwell Automation during the fourth quarter valued at $281,000. AQR Capital Management LLC increased its stake in shares of Rockwell Automation by 75.9% in the first quarter. AQR Capital Management LLC now owns 8,139 shares of the industrial products company's stock worth $2,059,000 after purchasing an additional 3,513 shares during the period. Empowered Funds LLC increased its stake in shares of Rockwell Automation by 142.7% in the first quarter. Empowered Funds LLC now owns 7,305 shares of the industrial products company's stock worth $1,887,000 after purchasing an additional 4,295 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Rockwell Automation by 233.6% during the first quarter. Acadian Asset Management LLC now owns 1,878 shares of the industrial products company's stock valued at $484,000 after acquiring an additional 1,315 shares during the period. Hedge funds and other institutional investors own 75.75% of the company's stock.

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.