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

Rockwell Automation, Inc. (NYSE:ROK) declared a quarterly dividend on Tuesday, April 1st, RTT News reports. Investors of record on Monday, May 19th will be paid a dividend of 1.31 per share by the industrial products company on Tuesday, June 10th. This represents a $5.24 annualized dividend and a dividend yield of 2.01%.

Rockwell Automation has increased its dividend by an average of 5.3% annually over the last three years and has raised its dividend every year for the last 15 years. Rockwell Automation has a dividend payout ratio of 47.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rockwell Automation to earn $11.07 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 47.3%.

Rockwell Automation Stock Performance

Rockwell Automation stock opened at $260.75 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08. Rockwell Automation has a fifty-two week low of $242.81 and a fifty-two week high of $308.70. The stock has a fifty day moving average of $277.15 and a two-hundred day moving average of $278.76. The company has a market capitalization of $29.48 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 3.53 and a beta of 1.39.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.22. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. On average, analysts anticipate that Rockwell Automation will post 9.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ROK has been the subject of a number of research reports. BNP Paribas downgraded Rockwell Automation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Jefferies Financial Group upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and raised their price target for the company from $290.00 to $350.00 in a report on Thursday, December 12th. Loop Capital increased their price objective on shares of Rockwell Automation from $260.00 to $280.00 and gave the stock a “hold” rating in a research report on Tuesday, February 25th. Barclays lowered their price target on Rockwell Automation from $285.00 to $280.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Finally, Stephens raised Rockwell Automation from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $275.00 to $350.00 in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $307.42.

Insiders Place Their Bets

In related news, SVP Tessa M. Myers sold 1,231 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $285.43, for a total transaction of $351,364.33. Following the sale, the senior vice president now directly owns 3,650 shares of the company’s stock, valued at approximately $1,041,819.50. This represents a 25.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Terry L. Riesterer sold 850 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $300.21, for a total value of $255,178.50. Following the transaction, the vice president now owns 1,633 shares in the company, valued at $490,242.93. This trade represents a 34.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,352 shares of company stock valued at $1,246,298 in the last ninety days. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Rockwell Automation

An institutional investor recently bought a new position in Rockwell Automation stock. Brighton Jones LLC purchased a new position in shares of Rockwell Automation, Inc. (NYSE:ROK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 983 shares of the industrial products company’s stock, valued at approximately $281,000. Institutional investors own 75.75% of the company’s stock.

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.