Rockwell Automation, Inc. (ROK) to Issue Quarterly Dividend of $1.31 on December 10th

Rockwell Automation, Inc. (NYSE:ROK) announced a quarterly dividend on Thursday, October 31st,RTT News reports. Stockholders of record on Monday, November 18th will be paid a dividend of 1.31 per share by the industrial products company on Tuesday, December 10th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, November 18th. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25.

Rockwell Automation has raised its dividend by an average of 5.1% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Rockwell Automation has a dividend payout ratio of 54.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rockwell Automation to earn $11.46 per share next year, which means the company should continue to be able to cover its $5.24 annual dividend with an expected future payout ratio of 45.7%.

Rockwell Automation Trading Down 0.1 %

Shares of NYSE ROK opened at $286.15 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average price is $269.16 and its two-hundred day moving average price is $266.87. Rockwell Automation has a 52-week low of $242.81 and a 52-week high of $312.76. The stock has a market capitalization of $32.31 billion, a P/E ratio of 34.56, a PEG ratio of 2.98 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the previous year, the business earned $3.64 EPS. The business’s quarterly revenue was down 20.6% on a year-over-year basis. On average, analysts anticipate that Rockwell Automation will post 9.46 earnings per share for the current fiscal year.

Insider Activity

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $266.86, for a total value of $154,511.94. Following the completion of the sale, the senior vice president now directly owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. This represents a 11.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ROK shares. Bank of America boosted their price objective on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird boosted their price target on shares of Rockwell Automation from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Mizuho increased their price objective on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Oppenheimer lifted their price objective on shares of Rockwell Automation from $288.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company upped their target price on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $286.13.

Rockwell Automation declared that its board has approved a stock buyback plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.