Rockwell Automation, Inc. (ROK) to Issue Quarterly Dividend of $0.84
Rockwell Automation, Inc. (NYSE:ROK) declared a quarterly dividend on Wednesday, November 1st, RTT News reports. Stockholders of record on Monday, November 13th will be given a dividend of 0.835 per share by the industrial products company on Monday, December 11th. This represents a $3.34 annualized dividend and a dividend yield of 1.66%. This is an increase from Rockwell Automation’s previous quarterly dividend of $0.76.
Rockwell Automation has increased its dividend payment by an average of 12.0% per year over the last three years and has increased its dividend every year for the last 7 years. Rockwell Automation has a payout ratio of 44.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Rockwell Automation to earn $7.33 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 41.5%.
In related news, insider Blake D. Moret sold 5,677 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $170.10, for a total value of $965,657.70. Following the sale, the insider now directly owns 21,426 shares in the company, valued at approximately $3,644,562.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Blake D. Moret sold 1,723 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $170.06, for a total value of $293,013.38. Following the completion of the sale, the insider now owns 22,849 shares in the company, valued at $3,885,700.94. The disclosure for this sale can be found here. Insiders have sold a total of 30,900 shares of company stock worth $5,144,556 over the last quarter. Company insiders own 1.65% of the company’s stock.
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ROK has been the subject of several recent analyst reports. Credit Suisse Group reaffirmed a “neutral” rating and set a $174.00 price objective (up previously from $154.00) on shares of Rockwell Automation in a research report on Wednesday, October 11th. Cowen and Company raised their price objective on shares of Rockwell Automation from $125.00 to $140.00 and gave the stock a “market perform” rating in a research report on Thursday, July 6th. Zacks Investment Research raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $182.00 price objective for the company in a research report on Friday, July 28th. Citigroup Inc. reaffirmed a “neutral” rating and set a $187.00 price objective (up previously from $175.00) on shares of Rockwell Automation in a research report on Monday, October 9th. Finally, J P Morgan Chase & Co raised shares of Rockwell Automation from an “underweight” rating to a “neutral” rating and set a $153.00 price objective for the company in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. Rockwell Automation has an average rating of “Hold” and a consensus price target of $164.07.
Rockwell Automation Company Profile
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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