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.

Dividend History for Rockwell Automation (NYSE:ROK)

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