Rockwell Automation, Inc. (NYSE:ROK – Get Rating) declared a quarterly dividend on Wednesday, June 1st, RTT News reports. Stockholders of record on Monday, August 15th will be paid a dividend of 1.12 per share by the industrial products company on Monday, September 12th. This represents a $4.48 annualized dividend and a dividend yield of 2.06%.
Rockwell Automation has raised its dividend payment by an average of 5.9% per year over the last three years and has raised its dividend every year for the last 13 years. Rockwell Automation has a payout ratio of 40.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Rockwell Automation to earn $10.99 per share next year, which means the company should continue to be able to cover its $4.48 annual dividend with an expected future payout ratio of 40.8%.
NYSE ROK traded up $3.81 on Wednesday, reaching $217.01. The company had a trading volume of 1,429,810 shares, compared to its average volume of 837,234. The firm has a market cap of $25.23 billion, a price-to-earnings ratio of 39.46, a P/E/G ratio of 2.67 and a beta of 1.41. Rockwell Automation has a fifty-two week low of $191.07 and a fifty-two week high of $354.99. The business has a 50 day moving average of $241.35 and a two-hundred day moving average of $285.48. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.09 and a quick ratio of 0.78.
In related news, Director Patricia A. Watson purchased 1,110 shares of the firm’s stock in a transaction dated Thursday, May 5th. The stock was bought at an average price of $219.58 per share, for a total transaction of $243,733.80. Following the purchase, the director now directly owns 4,827 shares in the company, valued at approximately $1,059,912.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.68% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC boosted its holdings in Rockwell Automation by 11.8% in the 4th quarter. Belpointe Asset Management LLC now owns 398 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 42 shares during the period. Dempze Nancy E boosted its holdings in Rockwell Automation by 0.7% in the 1st quarter. Dempze Nancy E now owns 9,881 shares of the industrial products company’s stock valued at $2,768,000 after purchasing an additional 65 shares during the period. NEXT Financial Group Inc boosted its holdings in Rockwell Automation by 7.9% in the 4th quarter. NEXT Financial Group Inc now owns 979 shares of the industrial products company’s stock valued at $341,000 after purchasing an additional 72 shares during the period. Kinneret Advisory LLC boosted its holdings in Rockwell Automation by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 3,402 shares of the industrial products company’s stock valued at $953,000 after purchasing an additional 76 shares during the period. Finally, Founders Financial Securities LLC boosted its holdings in Rockwell Automation by 8.0% in the 1st quarter. Founders Financial Securities LLC now owns 1,080 shares of the industrial products company’s stock valued at $302,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 78.21% of the company’s stock.
A number of equities analysts have recently issued reports on ROK shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Rockwell Automation from $318.00 to $292.00 and set a “hold” rating on the stock in a research report on Thursday, April 14th. UBS Group cut their price objective on shares of Rockwell Automation to $205.00 in a research report on Wednesday, May 25th. Morgan Stanley cut their price objective on shares of Rockwell Automation from $325.00 to $277.00 and set an “overweight” rating on the stock in a research report on Tuesday. Robert W. Baird cut their price objective on shares of Rockwell Automation from $310.00 to $255.00 in a research report on Wednesday, May 4th. Finally, Oppenheimer cut their price objective on shares of Rockwell Automation from $360.00 to $290.00 in a research report on Wednesday, May 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Rockwell Automation has an average rating of “Hold” and a consensus target price of $266.39.
Rockwell Automation announced that its Board of Directors has authorized a share buyback program on Tuesday, May 3rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
Rockwell Automation Company Profile (Get Rating)
Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.
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