Rockwell Automation Inc.ROK has been selected by Metso, a Finnish industrial machinery company to deliver a global industrial Internet of Things (IoT) platform. It will aid in connecting and monitoring data from Metso`s equipment globally. Further, the platform will help in performing analytics for Metso`s equipment and services, leading to improved efficiency and profitability for its mining and aggregates customers.
The IoT solution is built on the Rockwell Automation FactoryTalk Cloud platform, powered by Microsoft Azure. Rockwell Automation and Microsoft Corporation (MSFT) have together worked on solutions required for industrial digital transformation.
With the help of the IoT platform, Metso's mining and aggregates customers will have access to real-time data that will ensure higher uptime, faster and safer shutdowns, and ultimately more tonnage processed at lower cost.
Rockwell Automation, Inc. Price
Rockwell Automation had earlier worked with Metso on a pilot program in 2015, remotely monitoring an African-based mining crusher from a location in Wisconsin. Metso was able to use the data collected to recognize opportunities for improvements in machine performance. Based on the program's success, Metso has chosen Rockwell Automation for the implementation of the industrial IoT platform.
Rockwell Automation's new Connected Enterprise (CE) integrated supply chain management system will be a long-term growth driver. In a CE enabled by IoT technologies, supply-chain activities are digitally coordinated. It allows suppliers to react in real time when problems arise. More importantly, the CE offers powerful supply-chain advantages. The company is increasing the number of industries, applications and geographies, as well as improving investments to expand the value of CE. With average profitability well above the corporate average, CE sales will be integral part of Rockwell Automation's incremental growth and boost margins over the next few years.
Rockwell Automation's share price surged 38.1% in the last one year, while the Zacks categorized Industrial Automation/Robotics subindustry increased 40.9%.
Rockwell Automation currently carries a Zacks Rank #2 (Buy).
Other top-ranked stocks in the same sector are iRobot Corporation IRBT , Altra Industrial Motion Corp. AIMC and Parker-Hannifin Corporation PH . All the three stocks boast a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here .
iRobot Corporation has an average positive earnings surprise of 61.72% in the trailing four quarters. Altra Industrial Motion generated an average positive earnings surprise of 15.93% in the past four quarters, while Parker-Hannifin has an average positive earnings surprise of 14.94% in the last four quarters.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.