Rockwell Automation (NYSE:ROK) Issues Earnings Results, Beats Expectations By $0.63 EPS

Rockwell Automation (NYSE:ROK) announced its quarterly earnings data on Wednesday. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.63, RTT News reports. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.01 EPS. Rockwell Automation updated its FY24 guidance to $9.60 EPS and its FY 2024 guidance to 9.600-9.600 EPS.

Rockwell Automation Stock Performance

Shares of ROK stock traded down $0.99 during mid-day trading on Friday, reaching $258.15. 625,371 shares of the company’s stock traded hands, compared to its average volume of 966,854. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.11. The firm has a market capitalization of $29.43 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 4.71 and a beta of 1.37. Rockwell Automation has a 12 month low of $242.81 and a 12 month high of $317.74. The firm has a 50 day moving average price of $265.32 and a two-hundred day moving average price of $274.14.

Rockwell Automation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 12th will be given a $1.25 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $5.00 annualized dividend and a yield of 1.94%. Rockwell Automation’s payout ratio is presently 48.88%.

Insider Buying and Selling

In related news, SVP Tessa M. Myers sold 528 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total transaction of $133,995.84. Following the completion of the transaction, the senior vice president now directly owns 3,718 shares in the company, valued at approximately $943,554.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Rockwell Automation news, SVP Tessa M. Myers sold 528 shares of Rockwell Automation stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $253.78, for a total transaction of $133,995.84. Following the transaction, the senior vice president now owns 3,718 shares of the company’s stock, valued at $943,554.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John M. Miller sold 467 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $273.27, for a total transaction of $127,617.09. Following the completion of the sale, the vice president now directly owns 4,800 shares of the company’s stock, valued at $1,311,696. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,199 shares of company stock valued at $572,750. 0.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

ROK has been the topic of a number of analyst reports. Bank of America lowered their target price on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday. Loop Capital cut their price target on shares of Rockwell Automation from $300.00 to $290.00 and set a “hold” rating for the company in a research note on Tuesday, May 14th. Oppenheimer reduced their price objective on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday. 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, May 8th. Finally, Wells Fargo & Company cut their price objective on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a research note on Thursday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rockwell Automation currently has an average rating of “Hold” and an average price target of $282.07.

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.