Rockwell Automation (NYSE:ROK) Shares Up 0.3% After Better-Than-Expected Earnings

Shares of Rockwell Automation (NYSE:ROK) shot up 0.3% during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $207.11 and last traded at $198.56, 49,907 shares were traded during mid-day trading. A decline of 95% from the average session volume of 921,389 shares. The stock had previously closed at $198.01.

The industrial products company reported $2.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.92 by $0.09. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Rockwell Automation had a net margin of 15.44% and a return on equity of 78.71%. The company’s revenue was up .0% on a year-over-year basis. During the same period last year, the company posted $2.11 EPS.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.97. Rockwell Automation’s dividend payout ratio (DPR) is 50.31%.

Several research firms recently weighed in on ROK. Zacks Investment Research lowered shares of Rockwell Automation from a “hold” rating to a “sell” rating and set a $177.00 target price on the stock. in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on shares of Rockwell Automation from $145.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Credit Suisse Group raised shares of Rockwell Automation from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $161.00 to $191.00 in a research report on Wednesday. ValuEngine downgraded shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Gabelli downgraded shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $173.14.

In related news, CEO Blake D. Moret sold 1,700 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $179.07, for a total transaction of $304,419.00. Following the completion of the sale, the chief executive officer now owns 41,395 shares of the company’s stock, valued at approximately $7,412,602.65. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Blake D. Moret sold 7,300 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $179.67, for a total transaction of $1,311,591.00. Following the sale, the chief executive officer now directly owns 46,995 shares of the company’s stock, valued at approximately $8,443,591.65. The disclosure for this sale can be found here. 1.43% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of ROK. Coastal Capital Group Inc. bought a new stake in Rockwell Automation in the second quarter worth approximately $25,000. Griffin Asset Management Inc. bought a new position in shares of Rockwell Automation in the 2nd quarter valued at about $26,000. Capital Advisors Ltd. LLC boosted its stake in shares of Rockwell Automation by 426.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 179 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 145 shares during the last quarter. River & Mercantile Asset Management LLP bought a new position in shares of Rockwell Automation in the 2nd quarter valued at about $31,000. Finally, Shine Investment Advisory Services Inc. boosted its stake in shares of Rockwell Automation by 112.9% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 198 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 105 shares during the last quarter. 72.81% of the stock is owned by hedge funds and other institutional investors.

The company has a market cap of $20.81 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 2.65 and a beta of 1.41. The company has a current ratio of 1.51, a quick ratio of 1.17 and a debt-to-equity ratio of 1.68. The firm’s 50 day moving average price is $169.09 and its 200-day moving average price is $162.14.

About Rockwell Automation (NYSE:ROK)

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.

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