Alecta Tjanstepension Omsesidigt Sells 31,700 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Alecta Tjanstepension Omsesidigt cut its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,000,575 shares of the industrial products company's stock after selling 31,700 shares during the period. Rockwell Automation comprises approximately 1.4% of Alecta Tjanstepension Omsesidigt's portfolio, making the stock its 26th largest position. Alecta Tjanstepension Omsesidigt owned 0.88% of Rockwell Automation worth $258,328,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ROK. Citizens National Bank Trust Department bought a new stake in Rockwell Automation in the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new position in Rockwell Automation in the 1st quarter valued at $31,000. Parvin Asset Management LLC bought a new position in Rockwell Automation in the 4th quarter valued at $36,000. Cooksen Wealth LLC bought a new stake in Rockwell Automation during the first quarter valued at about $34,000. Finally, Accredited Wealth Management LLC purchased a new stake in Rockwell Automation in the fourth quarter valued at about $47,000. Institutional investors own 75.75% of the company's stock.

Insider Activity

In related news, VP Terry L. Riesterer sold 269 shares of the stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $355.26, for a total value of $95,564.94. Following the completion of the sale, the vice president directly owned 1,613 shares in the company, valued at $573,034.38. This represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Matthew W. Fordenwalt sold 289 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $326.33, for a total value of $94,309.37. Following the sale, the senior vice president owned 3,196 shares of the company's stock, valued at approximately $1,042,950.68. The trade was a 8.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,757 shares of company stock worth $3,138,220. 0.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ROK has been the topic of a number of recent research reports. Bank of America raised Rockwell Automation from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $360.00 to $410.00 in a research note on Wednesday, July 16th. Citigroup restated a "buy" rating and issued a $392.00 target price (up previously from $371.00) on shares of Rockwell Automation in a research report on Monday, July 14th. Oppenheimer lifted their target price on Rockwell Automation from $304.00 to $371.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Loop Capital lifted their target price on Rockwell Automation from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Thursday, May 15th. Finally, Stephens boosted their price objective on Rockwell Automation from $350.00 to $375.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rockwell Automation presently has a consensus rating of "Moderate Buy" and a consensus price target of $341.11.

Rockwell Automation Trading Up 0.7%

Shares of NYSE ROK traded up $2.32 during trading on Tuesday, hitting $353.03. 290,304 shares of the company were exchanged, compared to its average volume of 861,716. The firm has a market capitalization of $39.79 billion, a PE ratio of 44.41, a P/E/G ratio of 3.63 and a beta of 1.38. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 1.05. The company has a fifty day moving average price of $324.82 and a 200-day moving average price of $287.33. Rockwell Automation, Inc. has a 12-month low of $215.00 and a 12-month high of $359.16.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates of $2.09 by $0.36. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. Rockwell Automation had a return on equity of 30.16% and a net margin of 11.38%. Rockwell Automation's quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.50 earnings per share. As a group, equities research analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be given a $1.31 dividend. The ex-dividend date is Monday, August 18th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.48%. Rockwell Automation's dividend payout ratio is currently 65.99%.

Rockwell Automation 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.

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