Forsta AP Fonden Boosts Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Forsta AP Fonden lifted its stake in Rockwell Automation, Inc. (NYSE:ROK – Get Rating) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,700 shares of the industrial products company’s stock after purchasing an additional 1,600 shares during the period. Forsta AP Fonden’s holdings in Rockwell Automation were worth $13,637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. lifted its position in shares of Rockwell Automation by 0.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,285 shares of the industrial products company’s stock worth $1,495,000 after purchasing an additional 37 shares during the period. International Assets Investment Management LLC lifted its position in shares of Rockwell Automation by 4.9% in the 4th quarter. International Assets Investment Management LLC now owns 814 shares of the industrial products company’s stock worth $284,000 after purchasing an additional 38 shares during the period. Greenleaf Trust lifted its position in Rockwell Automation by 1.6% during the 1st quarter. Greenleaf Trust now owns 2,414 shares of the industrial products company’s stock valued at $676,000 after acquiring an additional 39 shares during the period. Merriman Wealth Management LLC lifted its position in Rockwell Automation by 5.1% during the 1st quarter. Merriman Wealth Management LLC now owns 843 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 41 shares during the period. Finally, CAPROCK Group Inc. lifted its position in Rockwell Automation by 3.2% during the 1st quarter. CAPROCK Group Inc. now owns 1,567 shares of the industrial products company’s stock valued at $439,000 after acquiring an additional 49 shares during the period. 78.21% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Stock Performance

Shares of ROK stock opened at $252.24 on Friday. The company has a 50 day moving average price of $212.86 and a 200-day moving average price of $243.65. Rockwell Automation, Inc. has a 52 week low of $190.08 and a 52 week high of $354.99. The firm has a market capitalization of $29.12 billion, a PE ratio of 44.02, a P/E/G ratio of 2.69 and a beta of 1.47. The company has a quick ratio of 0.76, a current ratio of 1.06 and a debt-to-equity ratio of 1.29.

Rockwell Automation (NYSE:ROK – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The industrial products company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.33. Rockwell Automation had a net margin of 9.03% and a return on equity of 37.06%. The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the business posted $2.31 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts expect that Rockwell Automation, Inc. will post 9.4 earnings per share for the current year.

Rockwell Automation declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 3rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Monday, August 15th will be paid a $1.12 dividend. The ex-dividend date is Friday, August 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.78%. Rockwell Automation’s dividend payout ratio is presently 78.18%.

Insider Transactions at Rockwell Automation

In related news, SVP Cyril Perducat sold 664 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $217.75, for a total transaction of $144,586.00. Following the completion of the sale, the senior vice president now directly owns 1,576 shares in the company, valued at $343,174. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP John M. Miller sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $253.10, for a total transaction of $303,720.00. Following the completion of the sale, the vice president now directly owns 4,508 shares in the company, valued at $1,140,974.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Cyril Perducat sold 664 shares of Rockwell Automation stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $217.75, for a total transaction of $144,586.00. Following the transaction, the senior vice president now directly owns 1,576 shares in the company, valued at approximately $343,174. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ROK shares. JPMorgan Chase & Co. lowered their price target on shares of Rockwell Automation from $220.00 to $200.00 in a research report on Thursday, May 5th. Oppenheimer lowered their price target on shares of Rockwell Automation from $360.00 to $290.00 in a research report on Wednesday, May 4th. Citigroup lifted their price target on shares of Rockwell Automation from $259.00 to $274.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Cowen lowered their price target on shares of Rockwell Automation from $275.00 to $185.00 in a research report on Wednesday, May 4th. Finally, Robert W. Baird reduced their price objective on shares of Rockwell Automation from $310.00 to $255.00 in a research note on Wednesday, May 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $251.35.

About Rockwell Automation

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Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.