Rockwell Automation (NYSE:ROK) announced a quarterly dividend on Wednesday, February 7th, RTT News reports. Investors of record on Tuesday, February 20th will be paid a dividend of 0.835 per share by the industrial products company on Monday, March 12th. This represents a $3.34 dividend on an annualized basis and a yield of 1.77%.
Rockwell Automation has increased its dividend payment by an average of 9.2% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Rockwell Automation has a payout ratio of 45.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rockwell Automation to earn $8.74 per share next year, which means the company should continue to be able to cover its $3.34 annual dividend with an expected future payout ratio of 38.2%.
Shares of Rockwell Automation (NYSE:ROK) traded up $0.21 during mid-day trading on Wednesday, reaching $188.78. The company had a trading volume of 984,185 shares, compared to its average volume of 875,161. Rockwell Automation has a 12 month low of $147.67 and a 12 month high of $210.72. The stock has a market capitalization of $24,550.00, a price-to-earnings ratio of 66.24, a price-to-earnings-growth ratio of 2.08 and a beta of 1.17. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.98 and a quick ratio of 1.73.
ROK has been the subject of a number of research analyst reports. Credit Suisse Group reaffirmed a “neutral” rating and issued a $174.00 price target (up previously from $154.00) on shares of Rockwell Automation in a research note on Wednesday, October 11th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $183.00 price target on shares of Rockwell Automation in a research note on Thursday, October 12th. Zacks Investment Research raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $209.00 price target for the company in a research note on Tuesday, October 17th. lowered Rockwell Automation from a “hold” rating to a “reduce” rating in a research note on Thursday, November 2nd. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Rockwell Automation in a research note on Thursday, November 9th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. Rockwell Automation currently has a consensus rating of “Hold” and a consensus target price of $183.15.
In other Rockwell Automation news, VP Steven W. Etzel sold 514 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $190.75, for a total value of $98,045.50. Following the completion of the transaction, the vice president now owns 7,737 shares in the company, valued at $1,475,832.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Frank C. Kulaszewicz sold 43,100 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $177.68, for a total value of $7,658,008.00. Following the completion of the transaction, the senior vice president now owns 35,338 shares of the company’s stock, valued at approximately $6,278,855.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,966 shares of company stock valued at $21,834,799. 1.28% of the stock is owned by corporate insiders.
Rockwell Automation announced that its Board of Directors has approved a share repurchase program on Wednesday, January 24th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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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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