Rockwell Automation, Inc. $ROK Shares Sold by Alecta Tjanstepension Omsesidigt

Key Points

• Alecta Tjanstepension Omsesidigt has reduced its stake in Rockwell Automation, Inc. by 11.0%, selling 109,700 shares and leaving it with 890,875 shares, which represent 1.4% of its total investments.
• Goldman Sachs and other large investors have increased their positions in Rockwell Automation, with significant ownership now held by institutions, totaling 75.75% of the company's stock.
• Rockwell Automation's recent earnings report exceeded analysts' expectations, showcasing a revenue increase of 4.5% year-over-year and a solid return on equity of 30.14%.

Alecta Tjanstepension Omsesidigt lessened its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 11.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 890,875 shares of the industrial products company's stock after selling 109,700 shares during the quarter. Rockwell Automation accounts for about 1.4% of Alecta Tjanstepension Omsesidigt's holdings, making the stock its 24th biggest holding. Alecta Tjanstepension Omsesidigt owned approximately 0.79% of Rockwell Automation worth $295,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Professional Financial Advisors LLC purchased a new position in Rockwell Automation during the second quarter worth about $233,000. Sapient Capital LLC purchased a new position in Rockwell Automation during the second quarter worth about $234,000. Breakwater Capital Group purchased a new position in Rockwell Automation during the second quarter worth about $202,000. Fiduciary Alliance LLC boosted its stake in shares of Rockwell Automation by 42.9% in the second quarter. Fiduciary Alliance LLC now owns 1,266 shares of the industrial products company's stock valued at $421,000 after purchasing an additional 380 shares during the period. Finally, Czech National Bank boosted its stake in shares of Rockwell Automation by 6.1% in the second quarter. Czech National Bank now owns 27,551 shares of the industrial products company's stock valued at $9,152,000 after purchasing an additional 1,580 shares during the period. Hedge funds and other institutional investors own 75.75% of the company's stock.

Rockwell Automation Stock Down 0.2%

NYSE:ROK traded down $0.78 during mid-day trading on Friday, hitting $347.78. The stock had a trading volume of 1,045,572 shares, compared to its average volume of 738,820. The stock has a 50-day simple moving average of $346.16 and a two-hundred day simple moving average of $306.13. The company has a market capitalization of $39.10 billion, a PE ratio of 40.82, a PEG ratio of 3.64 and a beta of 1.41. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month high of $360.92. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.15. The firm had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The firm's revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.71 earnings per share. On average, equities research analysts anticipate that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, CEO Blake D. Moret sold 24,400 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $350.13, for a total transaction of $8,543,172.00. Following the sale, the chief executive officer owned 83,873 shares of the company's stock, valued at approximately $29,366,453.49. This trade represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Isaac Woods sold 250 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $350.00, for a total transaction of $87,500.00. Following the sale, the vice president directly owned 1,662 shares in the company, valued at approximately $581,700. The trade was a 13.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,922 shares of company stock valued at $11,191,812 in the last quarter. Company insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ROK shares. Bank of America raised shares of Rockwell Automation from a "neutral" rating to a "buy" rating and raised their price objective for the company from $360.00 to $410.00 in a research note on Wednesday, July 16th. KeyCorp raised their price objective on shares of Rockwell Automation from $370.00 to $380.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Wall Street Zen lowered shares of Rockwell Automation from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. CICC Research started coverage on shares of Rockwell Automation in a research note on Monday, July 7th. They issued an "outperform" rating and a $381.00 price objective for the company. Finally, Wells Fargo & Company set a $345.00 price objective on shares of Rockwell Automation and gave the company an "equal weight" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $340.16.

Rockwell Automation Company Profile

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.