Rockwell Automation (NYSE:ROK) Posts Earnings Results, Beats Estimates By $0.35 EPS

Rockwell Automation (NYSE:ROK) released its earnings results on Wednesday. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.35, Briefing.com reports. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.05 billion. Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.01 EPS. Rockwell Automation updated its FY 2024 guidance to 10.000-11.000 EPS.

Rockwell Automation Price Performance

Shares of ROK traded up $2.55 on Friday, reaching $271.80. The stock had a trading volume of 472,342 shares, compared to its average volume of 1,022,542. Rockwell Automation has a twelve month low of $252.11 and a twelve month high of $348.52. The firm has a market capitalization of $31.15 billion, a PE ratio of 25.67, a PEG ratio of 2.77 and a beta of 1.43. The firm has a 50-day moving average of $281.65 and a 200 day moving average of $283.04. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 0.76.

Rockwell Automation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 13th will be issued a $1.25 dividend. The ex-dividend date is Friday, May 10th. This represents a $5.00 dividend on an annualized basis and a yield of 1.84%. Rockwell Automation’s dividend payout ratio (DPR) is presently 47.57%.

Wall Street Analyst Weigh In

ROK has been the subject of several analyst reports. Wells Fargo & Company lowered their price target on shares of Rockwell Automation from $320.00 to $312.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. restated an “underweight” rating and issued a $254.00 price target on shares of Rockwell Automation in a research note on Thursday, March 21st. Barclays dropped their price objective on Rockwell Automation from $265.00 to $260.00 and set an “underweight” rating on the stock in a report on Wednesday. Mizuho decreased their target price on Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Oppenheimer dropped their price target on shares of Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $307.93.

Insiders Place Their Bets

In related news, VP Scott Genereux sold 500 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $290.00, for a total value of $145,000.00. Following the sale, the vice president now directly owns 2,383 shares of the company’s stock, valued at approximately $691,070. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Nicholas C. Gangestad sold 1,989 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $288.17, for a total value of $573,170.13. Following the completion of the sale, the chief financial officer now owns 12,217 shares in the company, valued at $3,520,572.89. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Scott Genereux sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $290.00, for a total value of $145,000.00. Following the transaction, the vice president now directly owns 2,383 shares in the company, valued at $691,070. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,240 shares of company stock worth $4,891,324. 0.68% of the stock is owned by corporate insiders.

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.