Rockwell Automation Inc. to Post Q2 2018 Earnings of $1.65 Per Share, William Blair Forecasts (ROK)
Rockwell Automation Inc. (NYSE:ROK) – Investment analysts at William Blair issued their Q2 2018 earnings per share (EPS) estimates for shares of Rockwell Automation in a report issued on Tuesday. William Blair analyst N. Heymann expects that the brokerage will post earnings of $1.65 per share for the quarter. William Blair also issued estimates for Rockwell Automation’s Q4 2018 earnings at $1.94 EPS.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Monday, November 7th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Rockwell Automation had a return on equity of 36.34% and a net margin of 12.41%. Rockwell Automation’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.57 earnings per share.
ROK has been the subject of a number of other reports. Berenberg Bank began coverage on Rockwell Automation in a research note on Monday, October 3rd. They issued a “sell” rating and a $110.00 price target for the company. Morgan Stanley set a $109.00 price target on Rockwell Automation and gave the company a “sell” rating in a research note on Wednesday, September 28th. Stifel Nicolaus restated a “hold” rating on shares of Rockwell Automation in a research note on Friday, October 21st. Canaccord Genuity downgraded Rockwell Automation from a “buy” rating to a “hold” rating and set a $94.00 price target for the company. in a research note on Tuesday, July 26th. Finally, Sanford C. Bernstein upgraded Rockwell Automation from an “underperform” rating to a “market perform” rating and raised their price target for the company from $105.00 to $121.00 in a research note on Friday, September 30th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $108.67.
Shares of Rockwell Automation (NYSE:ROK) opened at 131.71 on Friday. Rockwell Automation has a 52-week low of $87.53 and a 52-week high of $131.72. The company has a market capitalization of $17.10 billion, a PE ratio of 23.69 and a beta of 1.00. The stock’s 50 day moving average price is $119.52 and its 200-day moving average price is $116.86.
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Rockwell Automation by 0.8% in the second quarter. Vanguard Group Inc. now owns 7,919,804 shares of the company’s stock worth $909,351,000 after buying an additional 64,944 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Rockwell Automation by 1.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,406,867 shares of the company’s stock worth $416,796,000 after buying an additional 34,719 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Rockwell Automation by 3.8% in the third quarter. BlackRock Fund Advisors now owns 2,201,314 shares of the company’s stock worth $269,309,000 after buying an additional 80,074 shares in the last quarter. BlackRock Group LTD raised its stake in shares of Rockwell Automation by 2.3% in the second quarter. BlackRock Group LTD now owns 1,075,498 shares of the company’s stock worth $123,490,000 after buying an additional 23,688 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Rockwell Automation by 4.6% in the third quarter. Wells Fargo & Company MN now owns 1,061,980 shares of the company’s stock worth $129,923,000 after buying an additional 46,545 shares in the last quarter. Institutional investors own 73.99% of the company’s stock.
In other news, SVP Sujeet Chand sold 4,800 shares of Rockwell Automation stock in a transaction on Monday, August 15th. The stock was sold at an average price of $119.14, for a total value of $571,872.00. Following the transaction, the senior vice president now owns 44,095 shares in the company, valued at approximately $5,253,478.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP David M. Dorgan sold 2,200 shares of Rockwell Automation stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $119.06, for a total value of $261,932.00. Following the completion of the transaction, the vice president now owns 12,500 shares in the company, valued at approximately $1,488,250. The disclosure for this sale can be found here. 1.54% of the stock is owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Monday, November 14th will be paid a $0.76 dividend. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, November 9th. This represents a $3.04 annualized dividend and a dividend yield of 2.31%. Rockwell Automation’s dividend payout ratio (DPR) is presently 54.58%.
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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