Fintel reports that on April 28, 2023, Barclays maintained coverage of Rockwell Automation (NYSE:ROK) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 1.30% Upside
As of April 24, 2023, the average one-year price target for Rockwell Automation is 287.30. The forecasts range from a low of 222.20 to a high of $351.75. The average price target represents an increase of 1.30% from its latest reported closing price of 283.62.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Rockwell Automation is 8,554MM, an increase of 2.43%. The projected annual non-GAAP EPS is 10.81.
Rockwell Automation Declares $1.18 Dividend
On April 4, 2023 the company declared a regular quarterly dividend of $1.18 per share ($4.72 annualized). Shareholders of record as of May 15, 2023 will receive the payment on June 12, 2023. Previously, the company paid $1.18 per share.
At the current share price of $283.62 / share, the stock's dividend yield is 1.66%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.93%, the lowest has been 1.28%, and the highest has been 3.38%. The standard deviation of yields is 0.36 (n=237).
The current dividend yield is 0.73 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.41. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.16%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1860 funds or institutions reporting positions in Rockwell Automation. This is an increase of 84 owner(s) or 4.73% in the last quarter. Average portfolio weight of all funds dedicated to ROK is 0.35%, an increase of 24.87%. Total shares owned by institutions increased in the last three months by 1.85% to 104,680K shares. 
The put/call ratio of ROK is 0.92, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 5,094K shares representing 4.44% ownership of the company. In it's prior filing, the firm reported owning 4,632K shares, representing an increase of 9.07%. The firm increased its portfolio allocation in ROK by 25.03% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,491K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 3,440K shares, representing an increase of 1.48%. The firm increased its portfolio allocation in ROK by 12.23% over the last quarter.
Alecta Pensionsforsakring, Omsesidigt holds 3,013K shares representing 2.63% ownership of the company. In it's prior filing, the firm reported owning 2,978K shares, representing an increase of 1.16%. The firm increased its portfolio allocation in ROK by 17.22% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 2,674K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 2,660K shares, representing an increase of 0.49%. The firm increased its portfolio allocation in ROK by 10.53% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 2,655K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 2,617K shares, representing an increase of 1.43%. The firm increased its portfolio allocation in ROK by 11.91% over the last quarter.
Rockwell Automation Background Information
(This description is provided by the company.)
Rockwell Automation, Inc. is an American provider of industrial automation whose brands include Allen-Bradley, FactoryTalk software and LifecycleIQ Services. Its solutions include hardware and software products, and services.
See all Rockwell Automation regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
