Gabelli Analysts Boost Earnings Estimates for Rockwell Automation (NYSE:ROK)

Rockwell Automation (NYSE:ROK) – Research analysts at Gabelli boosted their FY2019 earnings per share estimates for shares of Rockwell Automation in a report released on Thursday, according to Zacks Investment Research. Gabelli analyst J. Bergner now anticipates that the industrial products company will post earnings of $8.80 per share for the year, up from their previous forecast of $8.00. Gabelli also issued estimates for Rockwell Automation’s FY2020 earnings at $9.70 EPS and FY2021 earnings at $10.60 EPS.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.22. Rockwell Automation had a net margin of 5.85% and a return on equity of 39.45%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the company posted $1.75 EPS. The company’s revenue was up 6.5% on a year-over-year basis.

Other analysts have also issued research reports about the stock. Barclays assumed coverage on shares of Rockwell Automation in a research report on Thursday. They set an “equal weight” rating and a $200.00 target price on the stock. lowered shares of Rockwell Automation from a “hold” rating to a “reduce” rating in a research report on Thursday, November 2nd. Zacks Investment Research lowered shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Goldman Sachs Group restated a “neutral” rating and set a $193.00 target price on shares of Rockwell Automation in a research report on Friday, December 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Rockwell Automation from $182.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $185.00.

Shares of Rockwell Automation (NYSE ROK) opened at $188.63 on Monday. Rockwell Automation has a 1 year low of $148.31 and a 1 year high of $210.72. The stock has a market cap of $23,568.48, a P/E ratio of 65.65, a P/E/G ratio of 2.08 and a beta of 1.17. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.73 and a current ratio of 1.98.

Rockwell Automation declared that its Board of Directors has approved a share buyback plan on Wednesday, January 24th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Tuesday, February 20th will be issued a $0.835 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 1.77%. Rockwell Automation’s dividend payout ratio (DPR) is presently 117.19%.

In other Rockwell Automation news, SVP Frank C. Kulaszewicz sold 43,100 shares of Rockwell Automation stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $177.68, for a total value of $7,658,008.00. Following the transaction, the senior vice president now owns 35,338 shares in the company, valued at approximately $6,278,855.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Elik I. Fooks sold 904 shares of Rockwell Automation stock in a transaction on Monday, December 4th. The shares were sold at an average price of $190.77, for a total transaction of $172,456.08. Following the completion of the transaction, the insider now owns 9,464 shares in the company, valued at approximately $1,805,447.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,966 shares of company stock worth $21,834,799. 1.65% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of ROK. Thrivent Financial For Lutherans raised its stake in shares of Rockwell Automation by 2.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 5,503 shares of the industrial products company’s stock valued at $893,000 after acquiring an additional 130 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Rockwell Automation in the 2nd quarter valued at $486,000. FMR LLC raised its stake in shares of Rockwell Automation by 3.8% in the 2nd quarter. FMR LLC now owns 546,829 shares of the industrial products company’s stock valued at $88,565,000 after acquiring an additional 20,033 shares during the period. Ark Investment Management LLC raised its stake in shares of Rockwell Automation by 48.2% in the 2nd quarter. Ark Investment Management LLC now owns 3,409 shares of the industrial products company’s stock valued at $552,000 after acquiring an additional 1,109 shares during the period. Finally, Veritable L.P. raised its stake in shares of Rockwell Automation by 0.8% in the 2nd quarter. Veritable L.P. now owns 3,326 shares of the industrial products company’s stock valued at $539,000 after acquiring an additional 27 shares during the period. 72.35% of the stock is currently owned by institutional investors and hedge funds.

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About Rockwell Automation

Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.

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Earnings History and Estimates for Rockwell Automation (NYSE:ROK)

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