#2 - Rockwell Automation (NYSE:ROK)
Artificial intelligence is having a profound effect in manufacturing. The ability to deliver accurate, data-driven decisions helps minimize costs and optimize processes. Rockwell Automation, Inc. (NYSE: ROK) has been in this space since 2019, when it introduced its FactoryTalk Analytics LogixAI module. This has expanded into a comprehensive digital platform that is built on integrated architecture and communication services that deliver solutions at the edge and in the cloud.
As of September 4, 2023, ROK stock is down about 10% from its all-time high set in December 2021. And since its earnings report in August 2023, analysts give the stock mixed review. However, this may be just a case of investors taking “bad news” as an opportunity to sell. Both the top line and bottom line were higher year-over-year. Earnings are forecast to increase by approximately 10.5% in the next 12 months. That should give the stock price room to move higher.
Like Deere stock, Rockwell offers investors a nice dividend with a yield of 1.52% and an annual payout of $4.72 per share. Plus, the company has increased the dividend for 13 consecutive years.
About Rockwell Automation
Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.
Read More - Current Price
- $291.98
- Consensus Rating
- Hold
- Ratings Breakdown
- 6 Buy Ratings, 6 Hold Ratings, 3 Sell Ratings.
- Consensus Price Target
- $287.13 (1.7% Downside)
