Rockwell Automation (NYSE:ROK) Reaches New 52-Week High on Better-Than-Expected Earnings

Rockwell Automation, Inc. (NYSE:ROK)’s stock price hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $308.70 and last traded at $302.14, with a volume of 2936299 shares. The stock had previously closed at $268.40.

The industrial products company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%.

Rockwell Automation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Tuesday, February 18th will be given a $1.31 dividend. This represents a $5.24 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Tuesday, February 18th. Rockwell Automation’s dividend payout ratio (DPR) is currently 63.29%.

Analyst Ratings Changes

ROK has been the topic of several research reports. Mizuho increased their target price on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. HSBC raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 target price on the stock in a research report on Wednesday, December 11th. KeyCorp upgraded Rockwell Automation from a “sector weight” rating to an “overweight” rating and set a $345.00 price target for the company in a report on Monday, December 9th. Robert W. Baird increased their price target on Rockwell Automation from $290.00 to $305.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Finally, BNP Paribas began coverage on Rockwell Automation in a report on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Rockwell Automation currently has a consensus rating of “Hold” and an average target price of $304.16.

Insider Buying and Selling

In other Rockwell Automation news, VP Isaac Woods sold 895 shares of Rockwell Automation stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $274.72, for a total value of $245,874.40. Following the completion of the transaction, the vice president now directly owns 1,198 shares in the company, valued at $329,114.56. The trade was a 42.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Scott Genereux sold 278 shares of Rockwell Automation stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $302.04, for a total value of $83,967.12. Following the completion of the transaction, the vice president now owns 3,184 shares of the company’s stock, valued at approximately $961,695.36. The trade was a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,857 shares of company stock worth $10,678,037. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Rockwell Automation

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Generali Asset Management SPA SGR acquired a new position in shares of Rockwell Automation during the fourth quarter worth approximately $1,360,000. Evoke Wealth LLC boosted its position in shares of Rockwell Automation by 157.5% during the fourth quarter. Evoke Wealth LLC now owns 5,896 shares of the industrial products company’s stock worth $1,685,000 after buying an additional 3,606 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Rockwell Automation by 26.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 514,690 shares of the industrial products company’s stock worth $147,093,000 after buying an additional 106,257 shares during the period. Tocqueville Asset Management L.P. boosted its position in shares of Rockwell Automation by 1.5% during the fourth quarter. Tocqueville Asset Management L.P. now owns 72,995 shares of the industrial products company’s stock worth $20,861,000 after buying an additional 1,065 shares during the period. Finally, Flagship Wealth Advisors LLC acquired a new position in shares of Rockwell Automation during the fourth quarter worth approximately $38,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Stock Performance

The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average price of $285.72 and a 200-day moving average price of $275.06. The firm has a market capitalization of $34.15 billion, a price-to-earnings ratio of 36.49, a P/E/G ratio of 2.89 and a beta of 1.35.

About Rockwell Automation

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.