AMF Tjanstepension AB Lowers Stake in Rockwell Automation, Inc. (NYSE:ROK)

Key Points

• AMF Tjanstepension AB has reduced its stake in Rockwell Automation, Inc. by 8.4%, owning 40,791 shares valued at approximately $10.5 million after the sale.
• Rockwell Automation reported a quarterly earnings per share of $2.82, surpassing estimates and showing a 4.5% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $1.31 per share, providing a yield of 1.6% for shareholders of record.

AMF Tjanstepension AB lowered its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 8.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,791 shares of the industrial products company's stock after selling 3,726 shares during the period. AMF Tjanstepension AB's holdings in Rockwell Automation were worth $10,548,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Citizens National Bank Trust Department purchased a new stake in Rockwell Automation during the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Rockwell Automation in the 1st quarter worth about $31,000. IMA Advisory Services Inc. purchased a new stake in shares of Rockwell Automation in the 1st quarter worth about $32,000. Parvin Asset Management LLC purchased a new stake in shares of Rockwell Automation in the 4th quarter worth about $36,000. Finally, Cooksen Wealth LLC purchased a new stake in shares of Rockwell Automation in the 1st quarter worth about $34,000. Hedge funds and other institutional investors own 75.75% of the company's stock.

Rockwell Automation Stock Performance

Shares of ROK stock traded up $1.08 during trading hours on Friday, reaching $333.67. The company had a trading volume of 874,648 shares, compared to its average volume of 1,011,259. The business has a fifty day moving average price of $336.92 and a 200-day moving average price of $294.26. Rockwell Automation, Inc. has a one year low of $215.00 and a one year high of $360.92. The firm has a market cap of $37.52 billion, a PE ratio of 39.16, a price-to-earnings-growth ratio of 3.39 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings results 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. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the business posted $2.71 earnings per share. The business's revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be issued a $1.31 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.6%. Rockwell Automation's dividend payout ratio (DPR) is presently 61.50%.

Insider Buying and Selling

In related news, SVP Matheus De A. G. Viera Bulho sold 939 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $304.24, for a total value of $285,681.36. Following the transaction, the senior vice president owned 983 shares of the company's stock, valued at approximately $299,067.92. This trade represents a 48.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Christopher Nardecchia sold 551 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $326.31, for a total transaction of $179,796.81. Following the completion of the transaction, the senior vice president directly owned 12,711 shares in the company, valued at approximately $4,147,726.41. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,257 shares of company stock valued at $2,990,715 in the last 90 days. 0.68% of the stock is owned by insiders.

Analysts Set New Price Targets

ROK has been the subject of several research analyst reports. CICC Research initiated coverage on shares of Rockwell Automation in a research report on Monday, July 7th. They issued an "outperform" rating and a $381.00 target price for the company. Barclays dropped their target price on shares of Rockwell Automation from $370.00 to $357.00 and set an "overweight" rating for the company in a research report on Thursday. Loop Capital raised their target price on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Thursday, May 15th. Stephens reissued an "overweight" rating and set a $375.00 price target (up from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company set a $345.00 price target on shares of Rockwell Automation and gave the company an "equal weight" rating in a research report on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $339.47.

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.