Alecta Tjanstepension Omsesidigt Sells 109,700 Shares of Rockwell Automation, Inc. $ROK

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 13F filing with the SEC. The institutional investor owned 890,875 shares of the industrial products company's stock after selling 109,700 shares during the quarter. Rockwell Automation comprises approximately 1.4% of Alecta Tjanstepension Omsesidigt's holdings, making the stock its 24th largest position. Alecta Tjanstepension Omsesidigt owned about 0.79% of Rockwell Automation worth $295,770,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its stake in shares of Rockwell Automation by 11.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,819,379 shares of the industrial products company's stock worth $470,091,000 after acquiring an additional 191,370 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Rockwell Automation by 0.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,579,956 shares of the industrial products company's stock worth $408,229,000 after acquiring an additional 9,920 shares in the last quarter. Invesco Ltd. boosted its stake in Rockwell Automation by 2.2% during the 1st quarter. Invesco Ltd. now owns 1,448,160 shares of the industrial products company's stock valued at $374,176,000 after purchasing an additional 30,837 shares during the period. Northern Trust Corp boosted its stake in Rockwell Automation by 0.4% during the 1st quarter. Northern Trust Corp now owns 1,396,303 shares of the industrial products company's stock valued at $360,777,000 after purchasing an additional 4,972 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Rockwell Automation by 1.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,170,010 shares of the industrial products company's stock valued at $302,307,000 after purchasing an additional 11,849 shares during the period. Institutional investors own 75.75% of the company's stock.

Rockwell Automation Trading Up 0.7%

ROK stock opened at $344.51 on Thursday. The business has a fifty day moving average price of $346.01 and a 200 day moving average price of $305.10. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $360.92. The stock has a market capitalization of $38.73 billion, a price-to-earnings ratio of 40.44, a P/E/G ratio of 3.57 and a beta of 1.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, topping analysts' consensus estimates of $2.67 by $0.15. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The company's revenue was up 4.5% on a year-over-year basis. During the same period last year, the company earned $2.71 earnings per share. Analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Insider Buying and Selling at Rockwell Automation

In related news, VP Isaac Woods sold 250 shares of Rockwell Automation stock in a transaction 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 completion of the sale, the vice president directly owned 1,662 shares of the company's stock, valued at $581,700. The trade was a 13.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James P. Keane sold 3,000 shares of Rockwell Automation stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $356.06, for a total value of $1,068,180.00. Following the sale, the director directly owned 9,192 shares of the company's stock, valued at approximately $3,272,903.52. This trade represents a 24.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,922 shares of company stock valued at $11,191,812 over the last 90 days. Company insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ROK. Barclays increased their target price on Rockwell Automation from $357.00 to $370.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Bank of America upgraded Rockwell Automation from a "neutral" rating to a "buy" rating and increased their target price for the company from $360.00 to $410.00 in a research note on Wednesday, July 16th. Wells Fargo & Company set a $345.00 target price on Rockwell Automation and gave the company an "equal weight" rating in a research note on Friday, August 8th. Stephens restated an "overweight" rating and set a $375.00 target price (up previously from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. Finally, Citigroup restated a "buy" rating and set a $392.00 target price (up previously from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. One 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 stock. Based on data from MarketBeat, Rockwell Automation currently has a consensus rating of "Moderate Buy" and a consensus target price of $340.16.

About Rockwell Automation

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.

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