Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden has reduced its stake in Rockwell Automation by 4.8%, owning 23,600 shares valued at approximately $6.1 million after selling 1,200 shares.
• Rockwell Automation recently announced a quarterly dividend of $1.31, with an annualized yield of 1.6%, to be paid on September 10th.
• The company's stock currently has a market cap of $37.51 billion and reported earnings of $2.82 per share, exceeding analysts' estimates by $0.15.

Forsta AP Fonden cut its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 4.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 23,600 shares of the industrial products company's stock after selling 1,200 shares during the quarter. Forsta AP Fonden's holdings in Rockwell Automation were worth $6,098,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of Rockwell Automation in the 4th quarter valued at approximately $281,000. Bank Pictet & Cie Europe AG grew its holdings in shares of Rockwell Automation by 0.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company's stock worth $1,199,000 after purchasing an additional 38 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of Rockwell Automation by 3.7% during the 4th quarter. Bank of Nova Scotia now owns 15,089 shares of the industrial products company's stock worth $4,312,000 after purchasing an additional 540 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Rockwell Automation in the fourth quarter valued at about $32,532,000. Finally, Rockefeller Capital Management L.P. boosted its stake in Rockwell Automation by 61.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 54,592 shares of the industrial products company's stock valued at $15,603,000 after buying an additional 20,751 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ROK shares. Loop Capital raised their price objective on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Thursday, May 15th. TD Cowen raised Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 target price on the stock in a research report on Friday, May 9th. CICC Research initiated coverage on Rockwell Automation in a research report on Monday, July 7th. They set an "outperform" rating and a $381.00 target price on the stock. Oppenheimer lowered their target price on Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Finally, Citigroup reiterated a "buy" rating and set a $392.00 price objective (up from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $339.47.

Rockwell Automation Stock Performance

ROK traded up $9.34 on Wednesday, reaching $349.09. The company had a trading volume of 1,085,765 shares, compared to its average volume of 948,398. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $360.92. The stock has a market capitalization of $39.25 billion, a PE ratio of 40.97, a P/E/G ratio of 3.39 and a beta of 1.39. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average price of $337.63 and a 200-day moving average price of $294.89.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.15. The firm had revenue of $2.14 billion during 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 for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.71 earnings per share. As a group, research analysts forecast that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be paid a dividend of $1.31 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.5%. Rockwell Automation's dividend payout ratio is presently 61.50%.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Christopher Nardecchia sold 551 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $326.31, for a total transaction of $179,796.81. Following the transaction, the senior vice president owned 12,711 shares of the company's stock, valued at $4,147,726.41. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Matthew W. Fordenwalt sold 500 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $320.02, for a total transaction of $160,010.00. Following the completion of the transaction, the senior vice president directly owned 2,709 shares in the company, valued at approximately $866,934.18. This represents a 15.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,818 shares of company stock valued at $1,944,708. 0.68% of the stock is owned by corporate insiders.

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.