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Brokers Forecast Rockwell Automation, Inc. Earnings in Q2 2023

Rockwell Automation, Incorporated (NYSE: ROK) In a report that was made public on Wednesday, November 16, analysts from Zacks Research lowered their projections for the earnings per share that Rockwell Automation will generate during the second quarter of 2023. M. Das, an analyst at Zacks Research, anticipates that the industrial goods firm will earn $2.45 per share in the third quarter, a decrease from the prior prediction of $2.56. Rockwell Automation is anticipated to generate $10.70 per share for the year. Rockwell Automation is expected to earn $2.96 per share in the third quarter of 2023, $10.61 per share in the fiscal year 2023, and $13.56 per share in the fiscal year 2025, according to Zacks Research.

Rockwell Automation (NYSE: ROK) disclosed the results of its most recent quarterly financial report on November 2, a Wednesday. The industrial goods firm ended the period with $3.04 per share, which is $0.09 higher than the consensus expectation of $2.95 per share. The revenue for the quarter came in at $2.13 billion, exceeding the consensus estimate of $2.12 billion among analysts. The net margin for Rockwell Automation was 12.01%, and the company’s return on equity was 38.84%. Compared to the revenue from the same quarter the previous year, there was a 17.6% rise. In the prior year, the company generated earnings of $2.33 per share during the same period.
On Monday, ROK shares began trading for $264.74. The firm’s market capitalization is currently sitting at $30.40 billion, while its P/E ratio stands at 33.22, its PEG ratio sits at 2.66, and its beta stands at 1.46. The stock’s moving average over the past fifty days is $239.82, and its moving average for the past 200 days is $227.19. The debt-to-equity ratio is currently at 0.95, the current ratio is currently at 1.01, and the quick ratio is currently at 0.72. Rockwell Automation has a low point over the past year of $190.08, while its high point over the past year is $354.99.
There have been several publications on further research on ROK. Deutsche Bank Aktiengesellschaft gave Rockwell Automation a “hold” rating in a research note published on Thursday, October 13. Within the note, Deutsche Bank Aktiengesellschaft increased their price target on Rockwell Automation from $231.00 to $239.00. Oppenheimer increased their price target on Rockwell Automation from $260.00 to $278.00 and gave the stock an “outperform” rating in a research report published on Thursday, November 3. The price objective that Credit Suisse Group has set for Rockwell Automation has increased from $241.00 to $243.00; nevertheless, they have maintained their “neutral” rating on the stock. Rockwell Automation was downgraded from “outperform” to “market perform” by Sanford C. Bernstein, who now has a price target of $290.00 for the stock. On Tuesday, August 16, a research note was published. Lastly, in a research note published on Wednesday, August 17, by Argus, the brokerage firm boosted their price objective on Rockwell Automation from $250.00 to $290.00 and assigned a “buy” rating to the company’s stock. Three analysts advocate selling the stock, six recommend holding the stock, and five recommend buying the stock. According to data from Bloomberg, the stock has received an average recommendation of “Hold,” and analysts have established a consensus price objective of $238.19.

Several hedge funds have recently been active in the company’s stock market, buying and selling shares. Vanguard Group Inc. boosted the percentage of Rockwell Automation stock it held during the third quarter by 0.3%. Following the acquisition of 40,192 additional shares during the most recent fiscal quarter, Vanguard Group Inc. currently has a total of 13,495,152 shares of the stock issued by the industrial products firm. The value of these shares is $2,902,943,000. During the first three months of 2018, BlackRock Inc. boosted the percentage of Rockwell Automation shares it owned by 2.9%. BlackRock Inc. now owns 9,227,972 shares of the industrial goods company, which are valued at $2,584,111,000. This is the result of the company purchasing an additional 261,227 shares during the most recent quarter. During the second quarter, Alecta Tjanstepension Omsesidigt was able to add 8.2% more shares of Rockwell Automation to its portfolio. Alecta Tjanstepension Omsesidigt now holds a total of 2,978,265 shares of the industrial goods firm following the acquisition of an additional 225,000 shares during the most recent quarter.
The current market value of these shares is $594,015,000. During the second quarter, JPMorgan Chase & Co. added 13.9% more Rockwell Automation shares to its portfolio than it did during the first quarter. In comparison to the previous quarter, JPMorgan Chase & Co. now holds 2,364,908 shares of the industrial products firm for a total value of $471,350,000. This represents a decrease from the previous quarter’s ownership of 2,888,808 shares. Last but not least, during the second quarter, Amundi boosted the percentage of Rockwell Automation stock owned by 70.1%. After making a new purchase of 800,290 shares during the most recent quarter, Amundi now has 1,941,741 industrial goods company shares worth $387,703,000. Hedge funds and other institutional investors own 79.11% of the company’s shares.

In other news, Senior Vice President Christopher Nardecchia sold 428 shares of the company’s stock on Monday, October 3. At an average price of $226.38 per share, the stock was sold for a total of $96,890.64, making a total profit. The senior vice president is the current owner of 7,809 shares of company stock, which have a total value of $1,767,801.42. The transaction was disclosed in a file with the SEC, which may be found on the SEC’s website. In other news, Senior Vice President Christopher Nardecchia sold 428 shares of the company’s stock on Monday, October 3. At an average price of $226.38 per share, the stock was sold for a total of $96,890.64, making a total profit. The senior vice president is the current owner of 7,809 shares of company stock, which have a total value of $1,767,801.42. The transaction was disclosed in a file with the SEC, which may be found on the SEC’s website. Finally, on November 2, Senior Vice President and Chief Financial Officer Veena M. Lakkundi sold 606 shares. At an average price of $242.24 per share, the shares could fetch a total of $146,797.44 when sold. Because of the transaction, the senior vice president now has direct ownership of 1,269 shares of company stock, which have a combined value of $307,402.56. The disclosure for this sale can be found at this location. Business insiders currently own 0.68% of the company’s shares.

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