Rockwell Automation (ROK) to Release Earnings on Thursday

Rockwell Automation (NYSE:ROKGet Rating) is scheduled to issue its quarterly earnings data before the market opens on Thursday, January 26th. Analysts expect the company to announce earnings of $1.81 per share for the quarter. Rockwell Automation has set its FY23 guidance at $10.20-11.00 EPS and its FY 2023 guidance at $10.20-$11.00 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Rockwell Automation (NYSE:ROKGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.10. Rockwell Automation had a net margin of 12.01% and a return on equity of 38.84%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter last year, the firm posted $2.33 EPS. Rockwell Automation’s revenue was up 17.6% compared to the same quarter last year. On average, analysts expect Rockwell Automation to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Rockwell Automation Stock Performance

NYSE ROK opened at $277.98 on Wednesday. The company has a fifty day simple moving average of $264.56 and a 200 day simple moving average of $247.33. Rockwell Automation has a 12-month low of $190.08 and a 12-month high of $306.92. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 0.95. The company has a market cap of $31.92 billion, a P/E ratio of 34.88, a PEG ratio of 3.14 and a beta of 1.44.

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Monday, November 14th were issued a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a yield of 1.70%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend was Thursday, November 10th. Rockwell Automation’s payout ratio is currently 59.22%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Rockwell Automation from $250.00 to $265.00 and gave the company an “outperform” rating in a research note on Thursday, November 17th. The Goldman Sachs Group boosted their price objective on Rockwell Automation from $211.00 to $238.00 and gave the company a “sell” rating in a research note on Thursday, December 15th. Morgan Stanley boosted their price objective on Rockwell Automation from $269.00 to $284.00 and gave the company an “overweight” rating in a research note on Friday, January 6th. JPMorgan Chase & Co. upped their price target on Rockwell Automation from $180.00 to $195.00 and gave the company an “underweight” rating in a research report on Friday, November 4th. Finally, Wells Fargo & Company upped their price target on Rockwell Automation from $233.00 to $249.00 and gave the company an “underweight” rating in a research report on Thursday, January 19th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $245.63.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 606 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 1,269 shares of the company’s stock, valued at $307,402.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Rockwell Automation news, SVP Veena M. Lakkundi sold 606 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 1,269 shares of the company’s stock, valued at $307,402.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Blake D. Moret sold 8,867 shares of the company’s stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $256.61, for a total value of $2,275,360.87. Following the completion of the sale, the chief executive officer now directly owns 64,699 shares of the company’s stock, valued at approximately $16,602,410.39. The disclosure for this sale can be found here. Insiders sold a total of 13,304 shares of company stock valued at $3,410,562 over the last quarter. 0.64% of the stock is owned by corporate insiders.

Institutional Trading of Rockwell Automation

A number of institutional investors have recently made changes to their positions in ROK. Price T Rowe Associates Inc. MD boosted its stake in shares of Rockwell Automation by 51.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 734,371 shares of the industrial products company’s stock valued at $146,367,000 after purchasing an additional 248,641 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Rockwell Automation by 1,178.2% during the first quarter. Mackenzie Financial Corp now owns 165,068 shares of the industrial products company’s stock valued at $46,224,000 after purchasing an additional 152,154 shares during the period. Eaton Vance Management boosted its stake in shares of Rockwell Automation by 40.1% during the first quarter. Eaton Vance Management now owns 380,632 shares of the industrial products company’s stock valued at $106,589,000 after purchasing an additional 108,985 shares during the period. Vanguard Group Inc. boosted its stake in shares of Rockwell Automation by 0.9% during the first quarter. Vanguard Group Inc. now owns 11,472,877 shares of the industrial products company’s stock valued at $3,212,750,000 after purchasing an additional 106,641 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Rockwell Automation by 39.3% during the first quarter. First Trust Advisors LP now owns 313,846 shares of the industrial products company’s stock valued at $87,886,000 after purchasing an additional 88,465 shares during the period. Hedge funds and other institutional investors own 77.66% of the company’s stock.

About Rockwell Automation

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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.

See Also

Earnings History for Rockwell Automation (NYSE:ROK)

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