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Rockwell Automation Inc ROK Stock Quote

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Morningstar‘s Stock Analysis ROK

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Rockwell’s Market Selloff a Gross Overreaction; We Raise Fair Value Estimate by Just Under 4%

Joshua Aguilar Senior Analyst

Analyst Note

| Joshua Aguilar |

We were surprised by the market’s negative reaction to Rockwell’s fiscal fourth-quarter and 2023 results. In fact, Rockwell’s reported revenue during the fourth quarter was nearly lineball accurate with our projections, while the firm outperformed our segment operating margins by 140 basis points. Adjusted EPS did fall below expectations, though GAAP EPS outperformed. Furthermore, sales guidance came ahead of our expectations, though segment operating margin and adjusted EPS guidance were right in line with what we earmarked. We raise our fair value estimate to $306 from $295, partially due to time value of money and partially due to our revised sales outlook.

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Key Statistics ROK

Company Profile ROK

Business Description

Rockwell Automation is a pure-play automation competitor that is the successor entity to Rockwell International, which spun off its former Rockwell Collins avionics segment in 2001. As of fiscal 2021, the firm operates through three segments--intelligent devices, software and control, and lifecycle services. Intelligent devices contains its drives, sensors, and industrial components, software and control contains its information and network and security software, while lifecycle services contains its consulting and maintenance services as well as its Sensia JV with Schlumberger.

1201 South Second Street
Milwaukee, WI, 53204
T +1 414 382-2000
Industry Specialty Industrial Machinery
Most Recent Earnings Sep 30, 2022
Fiscal Year End Sep 30, 2023
Employees 26,000

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