Rockwell Automation Inc

ROK: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$651.00	Fzxl	Zxhscpr

Rockwell Earnings: Weaker-Than-Expected Quarter More a Function of Normalizing Order Trends

Joshua Aguilar

Aug 1, 2023

We see no reason to change our $310 fair value estimate following wide-moat Rockwell’s fiscal third-quarter results. Results were below expectations on the top and bottom lines, but income-related guidance was unchanged. Consequently, our sales and operating margin expectations were relatively unchanged, though cash conversion was a good deal south of what we previously earmarked.

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