Published: Thu, November 16, 2017
Money | By Armando Alvarado

Based Rockwell Automation to consider second takeover bid from St. Louis' Emerson

Based Rockwell Automation to consider second takeover bid from St. Louis' Emerson

Sun Life Financial INC boosted its stake in shares of Rockwell Automation by 8,490.9% during the 2nd quarter.

Several analysts have recently weighed in on the company. Oppenheimer Holdings, Inc. reissued a "hold" rating on shares of Rockwell Automation in a research report on Thursday, November 9th. Credit Agricole downgraded Rockwell Automation (NYSE:ROK) on Wednesday, November 11 to "Underperform" rating. During the same quarter in the prior year, the business posted $1.52 EPS. research analysts predict that Rockwell Automation, Inc. will post 7.39 EPS for the current year. Morgan Stanley maintained it with "Equal-Weight" rating and $173 target in Monday, October 2 report. ValuEngine downgraded Rockwell Automation from a "buy" rating to a "hold" rating in a research report on Monday, October 2nd. (NYSE:ROK) have climbed in the previous month. Rockwell Automation has a 52 week low of $87.53 and a 52 week high of $139.64. The company has market cap of $24.71 billion.

Tracking some technical levels, shares are trading 3.07% away from the 50 day simple moving average and 14.82% off of the 200 day simple moving average.

Rockwell Automation confirmed in a separate release that it had received Emerson's bid. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.03. Rockwell Automation had a return on equity of 38.67% and a net margin of 13.08%.

Flydubai near deal to order 175 boeing 737 MAX
UAE low cost carrier flydubai has signed a commitment for 175 Boeing 737 MAX aircraft at the Dubai Airshow. FlyDubai has begun to code-share flights with Emirates; both airlines are owned by Dubai's government.

For the last quarter Rockwell Automation Inc reported a revenue of $1.7 billion, compared with the revenue of $1.5 billion during the same period a year ago. As of the latest earnings report the EPS was $6.35 with 128.40M shares now outstanding. The firm's quarterly revenue was up 8.4% compared to the same quarter a year ago. On average, equities analysts expect that Rockwell Automation will post $6.06 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 1.69%. The firm has "Neutral" rating given on Friday, November 10 by Citigroup. Sumitomo Mitsui Asset Mngmt Company has invested 0.03% in Rockwell Automation (NYSE:ROK). Rockwell Automation's dividend payout ratio (DPR) is now 52.68%. The total enterprise value of the transaction is approximately $29 billion. Following the transaction, the insider now directly owns 21,426 shares of the company's stock, valued at $3,644,562.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

In a statement following the new bid, Rockwell said its board will "carefully review Emerson's proposal to determine the course of action that it believes is in the best interest of the company" and its shareholders. The stock was sold at an average price of $125.40, for a total value of $1,417,020.00. The disclosure for this sale can be found here. GuruFocus rated Rockwell Automation Inc the business predictability rank of 2.5-star. Oregon Public Employees Retirement Fund now owns 56,252 shares of the industrial products company's stock worth $10,025,000 after purchasing an additional 5,803 shares during the period. Regentatlantic Capital LLC increased its position in shares of Rockwell Automation by 0.7% in the second quarter. This marks the third time Emerson has approached Rockwell with new deal terms. This is an increase from Rockwell Automation's previous quarterly dividend of $0.76. Rockland Trust Co. now owns 16,899 shares of the company's stock worth $1,940,000 after buying an additional 2,330 shares during the last quarter.

Lombard Odier Asset Management Switzerland Sa, which manages about $871.13 million US Long portfolio, upped its stake in Xilinx Inc (NASDAQ:XLNX) by 11,158 shares to 24,760 shares, valued at $1.59M in 2017Q2, according to the filing.

Like this: