Rockwell Automation (NYSE:ROK) announced a quarterly dividend on Wednesday, June 6th, RTT News reports. Shareholders of record on Monday, August 13th will be given a dividend of 0.92 per share by the industrial products company on Monday, September 10th. This represents a $3.68 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, August 10th.
Rockwell Automation has raised its dividend by an average of 9.2% annually over the last three years and has raised its dividend every year for the last 8 years. Rockwell Automation has a dividend payout ratio of 45.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Rockwell Automation to earn $8.97 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%.
NYSE:ROK traded up $2.78 on Friday, reaching $180.96. The company’s stock had a trading volume of 1,227,900 shares, compared to its average volume of 1,039,208. Rockwell Automation has a 12-month low of $155.81 and a 12-month high of $210.72. The company has a quick ratio of 1.60, a current ratio of 1.93 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $21.86 billion, a P/E ratio of 26.77, a P/E/G ratio of 1.90 and a beta of 1.23.
A number of research firms have commented on ROK. UBS Group reduced their target price on Rockwell Automation from $210.00 to $205.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley started coverage on Rockwell Automation in a research note on Tuesday, August 21st. They issued an “underweight” rating and a $163.00 price objective for the company. Zacks Investment Research cut Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Barclays reaffirmed a “hold” rating and issued a $176.00 price objective on shares of Rockwell Automation in a research note on Thursday, July 26th. Finally, Goldman Sachs Group cut Rockwell Automation from a “neutral” rating to a “sell” rating and set a $156.00 price objective for the company. in a research note on Monday, July 16th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $184.38.
In related news, insider Theodore D. Crandall sold 5,533 shares of the business’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $187.34, for a total transaction of $1,036,552.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Steven W. Etzel sold 1,400 shares of the business’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $187.68, for a total value of $262,752.00. Following the transaction, the vice president now directly owns 8,668 shares of the company’s stock, valued at $1,626,810.24. The disclosure for this sale can be found here. Insiders sold 11,433 shares of company stock valued at $2,086,894 over the last ninety days. Insiders own 1.65% of the company’s stock.
Rockwell Automation Company Profile
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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