Rockwell Automation (NYSE:ROK) Announces Quarterly Earnings Results, Beats Estimates By $0.35 EPS

Rockwell Automation (NYSE:ROK) posted its quarterly earnings results on Tuesday. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.35, Briefing.com reports. Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the business posted $3.01 EPS. The business’s quarterly revenue was down 6.6% on a year-over-year basis. Rockwell Automation updated its FY24 guidance to $10.00-11.00 EPS.

Rockwell Automation Stock Performance

Shares of ROK opened at $273.59 on Thursday. The stock has a market capitalization of $31.35 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 2.77 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $281.90 and a 200 day simple moving average of $283.11. Rockwell Automation has a 12 month low of $252.11 and a 12 month high of $348.52.

Rockwell Automation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 13th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.83%. The ex-dividend date is Friday, May 10th. Rockwell Automation’s payout ratio is 47.57%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Rockwell Automation from $320.00 to $312.00 and set an “overweight” rating on the stock in a report on Wednesday. Berenberg Bank restated a “hold” rating and set a $290.00 price objective (down previously from $330.00) on shares of Rockwell Automation in a report on Wednesday, March 6th. Oppenheimer decreased their target price on shares of Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, February 1st. Mizuho reduced their price target on shares of Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Robert W. Baird reduced their price target on shares of Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $307.93.

Insider Buying and Selling at Rockwell Automation

In other news, CEO Blake D. Moret purchased 3,500 shares of the business’s stock in a transaction on Monday, February 12th. The stock was purchased at an average price of $283.64 per share, for a total transaction of $992,740.00. Following the completion of the purchase, the chief executive officer now directly owns 77,215 shares in the company, valued at approximately $21,901,262.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Blake D. Moret purchased 3,500 shares of the business’s stock in a transaction on Monday, February 12th. The stock was purchased at an average price of $283.64 per share, for a total transaction of $992,740.00. Following the completion of the purchase, the chief executive officer now directly owns 77,215 shares in the company, valued at approximately $21,901,262.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Scott Genereux sold 500 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $290.00, for a total transaction of $145,000.00. Following the completion of the sale, the vice president now owns 2,383 shares of the company’s stock, valued at approximately $691,070. The disclosure for this sale can be found here. Insiders sold a total of 17,240 shares of company stock worth $4,891,324 over the last quarter. 0.68% of the stock is currently owned by insiders.

About Rockwell Automation

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.