SIEGY - Rockwell Stumbles A Bit Operationally But The Street Doesn't Mind
- Rockwell posted a small miss in the fiscal first quarter (2% on revenue and segment profits), as markets like autos and oil/gas saw double-digit declines.
- Near-term drivers like reshoring remain in place, as do longer-term drivers like an increased focus on software and greater overall adoption of automation and industrial IoT.
- Rockwell shares rarely trade at any meaningful discount or bargain level, but the valuation isn't that out of line with other industrials for a company that's superior in many respects.
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Rockwell Stumbles A Bit Operationally, But The Street Doesn't Mind