Rockwell Automation (NYSE:ROK) Sets New 12-Month High on Earnings Beat

Shares of Rockwell Automation, Inc. (NYSE:ROK) hit a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $308.70 and last traded at $302.14, with a volume of 2936299 shares changing hands. The stock had previously closed at $268.40.

The industrial products company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%.

Rockwell Automation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, February 18th. Rockwell Automation’s payout ratio is currently 63.29%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. KeyCorp raised shares of Rockwell Automation from a “sector weight” rating to an “overweight” rating and set a $345.00 price target for the company in a research report on Monday, December 9th. UBS Group initiated coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 price objective for the company. HSBC raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 price objective for the company in a report on Wednesday, December 11th. Barclays lifted their price objective on shares of Rockwell Automation from $285.00 to $300.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Jefferies Financial Group raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $290.00 to $350.00 in a report on Thursday, December 12th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Rockwell Automation presently has a consensus rating of “Hold” and a consensus price target of $308.05.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, VP Scott Genereux sold 278 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $302.04, for a total value of $83,967.12. Following the sale, the vice president now directly owns 3,184 shares in the company, valued at approximately $961,695.36. The trade was a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Blake D. Moret sold 26,700 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the completion of the sale, the chief executive officer now owns 78,115 shares in the company, valued at approximately $23,327,482.45. This trade represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,857 shares of company stock worth $10,678,037 over the last ninety days. 0.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rockwell Automation

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in Rockwell Automation in the third quarter worth about $26,000. Richardson Financial Services Inc. raised its position in Rockwell Automation by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 48 shares in the last quarter. West Oak Capital LLC raised its position in Rockwell Automation by 455.6% in the fourth quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 82 shares in the last quarter. Bank of Jackson Hole Trust purchased a new position in Rockwell Automation in the 4th quarter worth about $34,000. Finally, SBI Securities Co. Ltd. purchased a new position in Rockwell Automation in the 4th quarter worth about $35,000. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Price Performance

The stock has a 50 day moving average of $286.07 and a two-hundred day moving average of $275.47. The stock has a market cap of $34.14 billion, a PE ratio of 36.47, a PEG ratio of 2.89 and a beta of 1.35. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08.

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.