Rockwell Automation (NYSE:ROK) declared a quarterly dividend on Thursday, November 1st, RTT News reports. Shareholders of record on Monday, November 12th will be paid a dividend of 0.97 per share by the industrial products company on Monday, December 10th. This represents a $3.88 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Thursday, November 8th. This is an increase from Rockwell Automation’s previous quarterly dividend of $0.92.
Rockwell Automation has raised its dividend by an average of 9.2% per year over the last three years and has increased its dividend every year for the last 8 years. Rockwell Automation has a payout ratio of 45.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rockwell Automation to earn $8.98 per share next year, which means the company should continue to be able to cover its $3.68 annual dividend with an expected future payout ratio of 41.0%.
Shares of Rockwell Automation stock opened at $177.07 on Wednesday. The stock has a market capitalization of $21.24 billion, a PE ratio of 26.19, a P/E/G ratio of 1.65 and a beta of 1.28. The company has a current ratio of 1.93, a quick ratio of 1.60 and a debt-to-equity ratio of 0.85. Rockwell Automation has a 1 year low of $153.67 and a 1 year high of $209.38.
A number of equities research analysts have recently issued reports on ROK shares. ValuEngine upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating in a research note on Friday, September 21st. UBS Group cut their target price on shares of Rockwell Automation from $210.00 to $205.00 and set a “buy” rating on the stock in a research note on Thursday, August 30th. Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research note on Wednesday, July 18th. Gordon Haskett started coverage on shares of Rockwell Automation in a research note on Friday, October 12th. They issued a “buy” rating on the stock. Finally, Morgan Stanley upped their target price on shares of Rockwell Automation from $187.00 to $192.00 and gave the company an “equal weight” rating in a research note on Friday, July 27th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $181.54.
Rockwell Automation announced that its Board of Directors has initiated a share repurchase plan on Thursday, September 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
About Rockwell Automation
Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.
Featured Story: Cost of Capital Explained
Receive News & Ratings for Rockwell Automation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Automation and related companies with MarketBeat.com's FREE daily email newsletter.