Brokers Set Expectations for Rockwell Automation, Inc.’s Q2 2023 Earnings (NYSE:ROK)

Rockwell Automation, Inc. (NYSE:ROKGet Rating) – Equities research analysts at Zacks Research dropped their Q2 2023 earnings per share estimates for shares of Rockwell Automation in a research report issued on Wednesday, November 16th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings per share of $2.45 for the quarter, down from their prior forecast of $2.56. The consensus estimate for Rockwell Automation’s current full-year earnings is $10.70 per share. Zacks Research also issued estimates for Rockwell Automation’s Q3 2023 earnings at $2.96 EPS, FY2023 earnings at $10.61 EPS and FY2025 earnings at $13.56 EPS.

Other analysts also recently issued research reports about the company. StockNews.com started coverage on Rockwell Automation in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley raised their price objective on Rockwell Automation from $265.00 to $269.00 and gave the stock an “overweight” rating in a research report on Thursday, November 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on Rockwell Automation from $231.00 to $239.00 and gave the stock a “hold” rating in a research report on Thursday, October 13th. JPMorgan Chase & Co. raised their price objective on Rockwell Automation from $180.00 to $195.00 and gave the stock an “underweight” rating in a research report on Friday, November 4th. Finally, Credit Suisse Group raised their target price on Rockwell Automation from $241.00 to $243.00 and gave the stock a “neutral” rating in a research report on Thursday, November 3rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Rockwell Automation has an average rating of “Hold” and an average target price of $238.19.

Rockwell Automation Price Performance

Shares of ROK stock opened at $264.74 on Monday. The stock has a 50 day moving average of $239.82 and a two-hundred day moving average of $227.19. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 0.95. Rockwell Automation has a 12 month low of $190.08 and a 12 month high of $354.99. The company has a market capitalization of $30.40 billion, a P/E ratio of 33.22, a P/E/G ratio of 2.66 and a beta of 1.46.

Rockwell Automation (NYSE:ROKGet Rating) last released its earnings results on Wednesday, November 2nd. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.09. Rockwell Automation had a return on equity of 38.84% and a net margin of 12.01%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter last year, the firm posted $2.33 EPS. The company’s revenue was up 17.6% on a year-over-year basis.

Institutional Investors Weigh In On Rockwell Automation

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Trust N.A. increased its stake in shares of Rockwell Automation by 1.5% in the 3rd quarter. Raymond James Trust N.A. now owns 2,633 shares of the industrial products company’s stock valued at $566,000 after buying an additional 40 shares during the period. Rossmore Private Capital increased its stake in shares of Rockwell Automation by 1.4% in the 3rd quarter. Rossmore Private Capital now owns 2,839 shares of the industrial products company’s stock valued at $611,000 after buying an additional 40 shares during the period. HB Wealth Management LLC increased its stake in shares of Rockwell Automation by 1.3% in the 3rd quarter. HB Wealth Management LLC now owns 3,423 shares of the industrial products company’s stock valued at $736,000 after buying an additional 44 shares during the period. Allstate Corp increased its stake in shares of Rockwell Automation by 1.0% in the 3rd quarter. Allstate Corp now owns 4,575 shares of the industrial products company’s stock valued at $984,000 after buying an additional 45 shares during the period. Finally, Tiedemann Advisors LLC increased its stake in shares of Rockwell Automation by 0.7% in the 2nd quarter. Tiedemann Advisors LLC now owns 6,416 shares of the industrial products company’s stock valued at $1,279,000 after buying an additional 47 shares during the period. 79.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 606 shares of Rockwell Automation stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $242.24, for a total value of $146,797.44. Following the completion of the transaction, the senior vice president now owns 1,269 shares in the company, valued at approximately $307,402.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Rockwell Automation news, SVP Christopher Nardecchia sold 428 shares of Rockwell Automation stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $226.38, for a total value of $96,890.64. Following the completion of the transaction, the senior vice president now owns 7,809 shares in the company, valued at approximately $1,767,801.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Veena M. Lakkundi sold 606 shares of Rockwell Automation stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $242.24, for a total value of $146,797.44. Following the completion of the transaction, the senior vice president now owns 1,269 shares of the company’s stock, valued at approximately $307,402.56. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Rockwell Automation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Monday, November 14th will be given a $1.18 dividend. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $4.72 annualized dividend and a yield of 1.78%. Rockwell Automation’s payout ratio is presently 59.22%.

Rockwell Automation Company Profile

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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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Earnings History and Estimates for Rockwell Automation (NYSE:ROK)

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