Rockwell Automation, Inc. (NYSE:ROK) to Issue Dividend Increase – $1.31 Per Share

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

Rockwell Automation has increased its dividend payment by an average of 5.1% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Rockwell Automation has a payout ratio of 54.9% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Down 0.1 %

Shares of Rockwell Automation stock opened at $286.15 on Friday. Rockwell Automation has a 12-month low of $242.81 and a 12-month high of $312.76. The firm has a market capitalization of $32.31 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.98 and a beta of 1.36. 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 fifty day moving average is $269.16 and its 200-day moving average is $266.87.

Rockwell Automation (NYSE:ROKGet Free Report) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the company earned $3.64 EPS. The business’s revenue for the quarter was down 20.6% compared to the same quarter last year. Equities analysts anticipate that Rockwell Automation will post 9.46 earnings per share for the current year.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $266.86, for a total value of $154,511.94. Following the transaction, the senior vice president now directly owns 4,576 shares of the company’s stock, valued at $1,221,151.36. The trade was a 11.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ROK shares. Morgan Stanley raised their price objective on Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday. Oppenheimer upped their price objective on shares of Rockwell Automation from $288.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Bank of America lifted their target price on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. dropped their price target on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Finally, BNP Paribas began coverage on Rockwell Automation in a research report on Wednesday. They set an “outperform” rating and a $345.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $286.13.

View Our Latest Analysis on Rockwell Automation

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

Rockwell Automation Company Profile

(Get Free Report)

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.

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Dividend History for Rockwell Automation (NYSE:ROK)

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