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Rockwell (ROK) Cuts Paper Job Packets, Aims to Reduce Paper Waste
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Rockwell Automation, Inc. (ROK - Free Report) has effectively cut down paper job packets by 70% for its engineered-to-order (ETO) products by utilizing the company’s advanced automation technology. This is in sync with the company’s concerted efforts to save paper wastage and increase resource efficiency while reducing its carbon footprint.
The ETO products are custom manufactured solutions. Previously, a job packet for a single project required up to 26 pounds of paper documentation as well as significant labor for generation, compilation, and distribution. As part of Rockwell’s Transactional Automation Project (TAP), the company used solutions from its Factory Talk industrial software portfolio to deliver the above mentioned feat.
So far, Rockwell Automation has launched approximately 50 separate projects across 14 of its manufacturing facilities, reducing more than 251,000 pounds of paper waste.This also provides manufacturers a real-time access to the latest electronic documentation. The company has also lowered the usage of the toner and energy for printing. Rockwell Automation estimates that the TAP initiative has been instrumental in lowering its carbon footprint by 50,000 pounds of carbon dioxide equivalent.
Rockwell Automation listed on the Dow Jones Sustainability Index for the 10th time in 2020. The company has set a target to be carbon neutral by 2030.
Rockwell Automation is well poised to benefit from its focus on broadening the portfolio of hardware and software products, solutions and services. The company’s FactoryTalk Design Hub development is progressing well. Significant investments to globalize manufacturing, product development, building channel capability and partner network will drive growth. The company is likely to witness above-market growth by expanding its served markets and improving offerings. Higher levels of infrastructure spending and a growing middle-class population will fuel demand for consumer products in emerging markets. This will require manufacturing investments and provide the company with additional growth opportunities. Rockwell Automation is focused on buyouts that will augment its information solutions and high-value services offerings and capabilities, while expanding the global presence.
During its third-quarter fiscal 2021 conference call, the company has raised its adjusted earnings per share guidance for fiscal 2021 to the band of $9.10-$9.30 from the previous estimate of $8.95-$9.35. Management projects reported sales growth of 12% compared with the previous guidance of 9-12%. Organic sales growth is projected at 8%, higher than the prior expectation of 5.5-8.5%. Inorganic sales growth is estimated to be 1.5% for the fiscal year. The upbeat guidance is driven by the company’s strong performance, year to date, and robust demand forcore automation platforms and Information Solutions & Connected Services (IS/CS).
Share Price Performance
So far this year, Rockwell Automation’s shares have gained 28.6%, outperforming the industry’s growth of 26.8%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Rockwell Automation currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the Industrial Products sector include Encore Wire Corporation (WIRE - Free Report) , Terex Corporation (TEX - Free Report) and Lincoln Electric Holdings, Inc. (LECO - Free Report) . While Encore Wire and Terex sport a Zacks Rank #1 (Strong Buy), Lincoln Electric carries a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Encore Wire has a projected earnings growth rate of 332.6% for fiscal 2021. So far this year, the company’s shares have gained 45%.
Terex has an estimated earnings growth rate of 2,207.6% for 2021. The company’s shares have gained 47.4% so far this year.
Lincoln Electric has an expected earnings growth rate of 45.1% for 2021. The stock has appreciated 22%, year to date.
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Rockwell (ROK) Cuts Paper Job Packets, Aims to Reduce Paper Waste
Rockwell Automation, Inc. (ROK - Free Report) has effectively cut down paper job packets by 70% for its engineered-to-order (ETO) products by utilizing the company’s advanced automation technology. This is in sync with the company’s concerted efforts to save paper wastage and increase resource efficiency while reducing its carbon footprint.
The ETO products are custom manufactured solutions. Previously, a job packet for a single project required up to 26 pounds of paper documentation as well as significant labor for generation, compilation, and distribution. As part of Rockwell’s Transactional Automation Project (TAP), the company used solutions from its Factory Talk industrial software portfolio to deliver the above mentioned feat.
So far, Rockwell Automation has launched approximately 50 separate projects across 14 of its manufacturing facilities, reducing more than 251,000 pounds of paper waste.This also provides manufacturers a real-time access to the latest electronic documentation. The company has also lowered the usage of the toner and energy for printing. Rockwell Automation estimates that the TAP initiative has been instrumental in lowering its carbon footprint by 50,000 pounds of carbon dioxide equivalent.
Rockwell Automation listed on the Dow Jones Sustainability Index for the 10th time in 2020. The company has set a target to be carbon neutral by 2030.
Rockwell Automation is well poised to benefit from its focus on broadening the portfolio of hardware and software products, solutions and services. The company’s FactoryTalk Design Hub development is progressing well. Significant investments to globalize manufacturing, product development, building channel capability and partner network will drive growth. The company is likely to witness above-market growth by expanding its served markets and improving offerings. Higher levels of infrastructure spending and a growing middle-class population will fuel demand for consumer products in emerging markets. This will require manufacturing investments and provide the company with additional growth opportunities. Rockwell Automation is focused on buyouts that will augment its information solutions and high-value services offerings and capabilities, while expanding the global presence.
During its third-quarter fiscal 2021 conference call, the company has raised its adjusted earnings per share guidance for fiscal 2021 to the band of $9.10-$9.30 from the previous estimate of $8.95-$9.35. Management projects reported sales growth of 12% compared with the previous guidance of 9-12%. Organic sales growth is projected at 8%, higher than the prior expectation of 5.5-8.5%. Inorganic sales growth is estimated to be 1.5% for the fiscal year. The upbeat guidance is driven by the company’s strong performance, year to date, and robust demand forcore automation platforms and Information Solutions & Connected Services (IS/CS).
Share Price Performance
So far this year, Rockwell Automation’s shares have gained 28.6%, outperforming the industry’s growth of 26.8%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Rockwell Automation currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the Industrial Products sector include Encore Wire Corporation (WIRE - Free Report) , Terex Corporation (TEX - Free Report) and Lincoln Electric Holdings, Inc. (LECO - Free Report) . While Encore Wire and Terex sport a Zacks Rank #1 (Strong Buy), Lincoln Electric carries a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Encore Wire has a projected earnings growth rate of 332.6% for fiscal 2021. So far this year, the company’s shares have gained 45%.
Terex has an estimated earnings growth rate of 2,207.6% for 2021. The company’s shares have gained 47.4% so far this year.
Lincoln Electric has an expected earnings growth rate of 45.1% for 2021. The stock has appreciated 22%, year to date.