Alecta Pensionsforsakring Omsesidigt lowered its stake in shares of Rockwell Automation (NYSE:ROK) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,378,265 shares of the industrial products company’s stock after selling 80,000 shares during the period. Rockwell Automation comprises about 3.6% of Alecta Pensionsforsakring Omsesidigt’s investment portfolio, making the stock its 8th biggest holding. Alecta Pensionsforsakring Omsesidigt owned 1.89% of Rockwell Automation worth $416,292,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently modified their holdings of the company. Cerebellum GP LLC acquired a new stake in shares of Rockwell Automation during the 4th quarter valued at $130,000. Signaturefd LLC acquired a new stake in shares of Rockwell Automation in the 1st quarter valued at $141,000. Gofen & Glossberg LLC IL acquired a new stake in shares of Rockwell Automation in the 4th quarter valued at $202,000. Cpwm LLC acquired a new stake in shares of Rockwell Automation in the 4th quarter valued at $204,000. Finally, Pitcairn Co. acquired a new stake in shares of Rockwell Automation in the 4th quarter valued at $206,000. 75.16% of the stock is owned by institutional investors.
In other Rockwell Automation news, SVP Elik I. Fooks sold 5,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $186.50, for a total transaction of $932,500.00. Following the completion of the transaction, the senior vice president now owns 13,910 shares of the company’s stock, valued at approximately $2,594,215. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John P. Mcdermott sold 2,050 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $187.90, for a total transaction of $385,195.00. Following the transaction, the insider now directly owns 40,353 shares of the company’s stock, valued at approximately $7,582,328.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,050 shares of company stock valued at $2,627,745. Company insiders own 1.65% of the company’s stock.
Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, April 25th. The industrial products company reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.07. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.66 billion. Rockwell Automation had a net margin of 6.34% and a return on equity of 42.38%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 EPS. equities analysts forecast that Rockwell Automation will post 7.88 earnings per share for the current fiscal year.
Rockwell Automation declared that its board has initiated a stock repurchase program on Wednesday, January 24th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Monday, May 14th will be given a dividend of $0.92 per share. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, May 11th. This represents a $3.68 dividend on an annualized basis and a yield of 2.05%. Rockwell Automation’s payout ratio is currently 54.44%.
ROK has been the subject of several analyst reports. Wells Fargo lifted their price objective on shares of Rockwell Automation from $190.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. Barclays reduced their price objective on shares of Rockwell Automation from $190.00 to $173.00 and set an “equal weight” rating for the company in a research note on Thursday, April 26th. Cowen lifted their price objective on shares of Rockwell Automation from $165.00 to $175.00 and gave the company a “market perform” rating in a research note on Tuesday, March 20th. Morgan Stanley lifted their price objective on shares of Rockwell Automation from $194.00 to $206.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Finally, Citigroup reduced their price objective on shares of Rockwell Automation from $214.00 to $209.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $186.21.
Rockwell Automation Company Profile
Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.
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