Rockwell Automation, Inc. Declares Quarterly Dividend of $1.31 (NYSE:ROK)

Rockwell Automation, Inc. (NYSE:ROK) declared a quarterly dividend on Tuesday, April 1st, RTT News reports. Shareholders of record on Monday, May 19th will be given 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 yield of 2.03%.

Rockwell Automation has increased its dividend by an average of 5.3% per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Rockwell Automation has a payout ratio of 47.2% indicating that 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

Shares of ROK traded up $0.30 during midday trading on Tuesday, reaching $258.68. 839,615 shares of the stock were exchanged, compared to its average volume of 847,430. The company has a market capitalization of $29.25 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 3.53 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72. Rockwell Automation has a twelve month low of $242.81 and a twelve month high of $308.70. The business’s 50-day moving average price is $278.36 and its 200 day moving average price is $278.91.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts expect that Rockwell Automation will post 9.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on ROK shares. BNP Paribas downgraded Rockwell Automation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 11th. The Goldman Sachs Group increased their price target on Rockwell Automation from $257.00 to $290.00 and gave the stock a “sell” rating in a report on Tuesday, February 11th. Barclays dropped their price objective on shares of Rockwell Automation from $285.00 to $280.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Morgan Stanley raised their target price on shares of Rockwell Automation from $335.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their target price on shares of Rockwell Automation from $315.00 to $337.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $307.42.

Insider Buying and Selling

In other Rockwell Automation news, SVP Tessa M. Myers sold 1,231 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $285.43, for a total transaction of $351,364.33. Following the completion of the transaction, the senior vice president now directly owns 3,650 shares in the company, valued at approximately $1,041,819.50. This trade represents a 25.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Isaac Woods sold 895 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $274.72, for a total transaction of $245,874.40. Following the completion of the sale, the vice president now directly owns 1,198 shares in the company, valued at $329,114.56. This trade represents a 42.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,352 shares of company stock valued at $1,246,298. 0.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Rockwell Automation

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

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.