Rockwell Automation (NYSE:ROK – Get Free Report) announced that its board has approved a stock buyback plan on Tuesday, June 9th, RTT News reports. The company plans to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
ROK has been the topic of several recent research reports. KeyCorp upped their price objective on shares of Rockwell Automation from $470.00 to $510.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Evercore upped their price objective on shares of Rockwell Automation from $440.00 to $480.00 in a report on Wednesday, May 6th. The Goldman Sachs Group increased their price target on shares of Rockwell Automation from $448.00 to $487.00 in a report on Wednesday, May 6th. Rothschild & Co Redburn increased their price target on shares of Rockwell Automation from $365.00 to $378.00 in a report on Wednesday, May 6th. Finally, Wells Fargo & Company increased their price target on shares of Rockwell Automation from $360.00 to $440.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $451.75.
View Our Latest Report on Rockwell Automation
Rockwell Automation Price Performance
Rockwell Automation (NYSE:ROK – Get Free Report) last announced its earnings results on Tuesday, May 5th. The industrial products company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.88 by $0.42. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.16 billion. Rockwell Automation had a net margin of 12.36% and a return on equity of 37.54%. Rockwell Automation’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $2.45 earnings per share. Rockwell Automation has set its FY 2026 guidance at 12.500-13.100 EPS. As a group, sell-side analysts anticipate that Rockwell Automation will post 13.01 EPS for the current year.
Rockwell Automation Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, May 18th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, May 18th. Rockwell Automation’s dividend payout ratio (DPR) is currently 57.38%.
Insiders Place Their Bets
In related news, VP Terry L. Riesterer sold 4,024 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $451.97, for a total value of $1,818,727.28. Following the sale, the vice president directly owned 134 shares of the company’s stock, valued at $60,563.98. This trade represents a 96.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Scott Genereux sold 550 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $447.73, for a total transaction of $246,251.50. Following the completion of the sale, the vice president directly owned 2,764 shares in the company, valued at $1,237,525.72. This represents a 16.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 12,308 shares of company stock valued at $5,339,812 over the last three months. Corporate insiders own 0.76% of the company’s stock.
About Rockwell Automation
Rockwell Automation is a global industrial automation and digital transformation company headquartered in Milwaukee, Wisconsin. The firm designs, manufactures and supports control systems, industrial control hardware and software, and related services that help manufacturers and industrial operators automate processes, improve productivity and enable data-driven decision making. Rockwell traces its heritage to the Allen-Bradley and Rockwell automation businesses and positions itself as a provider of integrated automation solutions across discrete and process industries.
The company’s product portfolio includes programmable logic controllers (PLCs), human-machine interfaces (HMIs), variable frequency drives, sensors, safety components and other industrial control hardware, often marketed under the Allen-Bradley brand.
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