Rockwell Automation (NYSE:ROK) Updates FY24 Earnings Guidance

Rockwell Automation (NYSE:ROK) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $10.00-11.00 for the period, compared to the consensus EPS estimate of $11.87. The company issued revenue guidance of ~$8.51-$8.69 billion, compared to the consensus revenue estimate of $9.08 billion.

Analysts Set New Price Targets

ROK has been the subject of a number of research reports. Mizuho cut their target price on shares of Rockwell Automation from $300.00 to $265.00 and set a neutral rating for the company in a research note on Thursday, February 1st. Berenberg Bank restated a hold rating and set a $290.00 price objective (down from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. Wells Fargo & Company decreased their target price on Rockwell Automation from $357.00 to $320.00 and set an overweight rating on the stock in a research report on Thursday, February 1st. Barclays dropped their price target on Rockwell Automation from $269.00 to $265.00 and set an underweight rating for the company in a report on Tuesday, April 2nd. Finally, Citigroup decreased their price objective on Rockwell Automation from $330.00 to $322.00 and set a buy rating on the stock in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $310.08.

Rockwell Automation Price Performance

Shares of NYSE:ROK opened at $277.50 on Tuesday. The firm has a 50 day moving average of $282.08 and a 200-day moving average of $283.07. Rockwell Automation has a 12 month low of $252.11 and a 12 month high of $348.52. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $31.80 billion, a PE ratio of 26.40, a PEG ratio of 2.77 and a beta of 1.43.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.15 by $0.35. Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the business earned $3.01 earnings per share. The company’s revenue was down 6.6% on a year-over-year basis. On average, equities research analysts predict that Rockwell Automation will post 11.98 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 13th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.80%. The ex-dividend date is Friday, May 10th. Rockwell Automation’s dividend payout ratio (DPR) is presently 47.57%.

Insider Buying and Selling at Rockwell Automation

In related news, VP Scott Genereux sold 500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $290.00, for a total transaction of $145,000.00. Following the completion of the transaction, the vice president now directly owns 2,383 shares in the company, valued at approximately $691,070. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Scott Genereux sold 500 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $290.00, for a total transaction of $145,000.00. Following the sale, the vice president now owns 2,383 shares in the company, valued at approximately $691,070. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Nicholas C. Gangestad sold 1,989 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $288.17, for a total value of $573,170.13. Following the completion of the transaction, the chief financial officer now owns 12,217 shares of the company’s stock, valued at $3,520,572.89. The disclosure for this sale can be found here. Insiders have sold a total of 17,240 shares of company stock worth $4,891,324 over the last 90 days. Insiders own 0.68% of the company’s stock.

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.