Rockwell Automation (NYSE:ROK) announced a quarterly dividend on Thursday, April 4th, Wall Street Journal reports. Investors of record on Monday, May 13th will be given a dividend of 0.97 per share by the industrial products company on Monday, June 10th. This represents a $3.88 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, May 10th.
Rockwell Automation has raised its dividend payment by an average of 10.9% annually over the last three years and has increased its dividend every year for the last 9 years. Rockwell Automation has a dividend payout ratio of 48.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Rockwell Automation to earn $9.72 per share next year, which means the company should continue to be able to cover its $3.88 annual dividend with an expected future payout ratio of 39.9%.
Shares of Rockwell Automation stock opened at $178.43 on Friday. Rockwell Automation has a fifty-two week low of $141.46 and a fifty-two week high of $198.23. The firm has a market cap of $21.33 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 2.36 and a beta of 1.35. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.93 and a current ratio of 1.21.
In other Rockwell Automation news, SVP Frank C. Kulaszewicz sold 9,231 shares of the firm’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $177.70, for a total value of $1,640,348.70. Following the transaction, the senior vice president now owns 34,893 shares of the company’s stock, valued at $6,200,486.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elik I. Fooks sold 5,100 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $177.80, for a total transaction of $906,780.00. Following the completion of the transaction, the insider now directly owns 15,597 shares in the company, valued at approximately $2,773,146.60. The disclosure for this sale can be found here. 1.43% of the stock is owned by company insiders.
A number of research firms have recently commented on ROK. Deutsche Bank upped their price objective on Rockwell Automation from $173.00 to $186.00 and gave the stock a “hold” rating in a report on Friday. Wells Fargo & Co dropped their price objective on Rockwell Automation from $215.00 to $205.00 and set an “outperform” rating for the company in a report on Friday. BMO Capital Markets dropped their price objective on Rockwell Automation from $223.00 to $214.00 and set an “outperform” rating for the company in a report on Friday. Morgan Stanley set a $159.00 price objective on Rockwell Automation and gave the stock a “sell” rating in a report on Friday. Finally, Wolfe Research downgraded Rockwell Automation to a “market perform” rating in a report on Tuesday, January 8th. Six analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Rockwell Automation currently has an average rating of “Hold” and a consensus target price of $174.71.
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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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