KLP Kapitalforvaltning AS Increases Stake in Rockwell Automation, Inc. $ROK

Key Points

• KLP Kapitalforvaltning AS increased its stake in Rockwell Automation by 4.1%, purchasing an additional 1,600 shares to hold a total of 40,970 shares worth approximately $13.61 million.
• Wall Street analysts are optimistic about Rockwell Automation, with Barclays raising its price target to $370 and Bank of America increasing its target to $410, while maintaining an overall average consensus rating of "Moderate Buy."
• Rockwell Automation reported earnings of $2.82 per share for the most recent quarter, exceeding analysts' expectations and showing a 4.5% revenue increase year-over-year.

KLP Kapitalforvaltning AS increased its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 4.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,970 shares of the industrial products company's stock after purchasing an additional 1,600 shares during the period. KLP Kapitalforvaltning AS's holdings in Rockwell Automation were worth $13,609,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ROK. Citizens National Bank Trust Department purchased a new stake in shares of Rockwell Automation in 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 valued at $31,000. IMA Advisory Services Inc. purchased a new stake in shares of Rockwell Automation in the 1st quarter valued at $32,000. Cooksen Wealth LLC purchased a new stake in shares of Rockwell Automation in the 1st quarter valued at $34,000. Finally, Legend Financial Advisors Inc. purchased a new stake in shares of Rockwell Automation in the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 75.75% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of Rockwell Automation from $357.00 to $370.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Bank of America upgraded shares of Rockwell Automation from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $360.00 to $410.00 in a research report on Wednesday, July 16th. Wells Fargo & Company boosted their price objective on shares of Rockwell Automation from $345.00 to $355.00 and gave the company an "equal weight" rating in a research report on Monday. Oppenheimer decreased their price objective on shares of Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Finally, Citigroup restated a "buy" rating and issued a $392.00 price objective (up previously from $371.00) on shares of Rockwell Automation in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $340.68.

Rockwell Automation Trading Up 1.0%

Shares of NYSE ROK opened at $347.73 on Thursday. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $360.92. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72. The firm has a 50-day moving average of $344.19 and a 200 day moving average of $313.47. The stock has a market cap of $39.10 billion, a P/E ratio of 40.81, a price-to-earnings-growth ratio of 3.06 and a beta of 1.41.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, topping analysts' consensus estimates of $2.67 by $0.15. The business 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 business's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.71 earnings per share. As a group, sell-side analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rockwell Automation news, VP Terry L. Riesterer sold 269 shares of the company's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $355.26, for a total value of $95,564.94. Following the sale, the vice president owned 1,613 shares in the company, valued at approximately $573,034.38. This represents a 14.29% decrease in their ownership of the stock. The sale 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 company's stock in a transaction dated 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 owned 1,662 shares in the company, valued at approximately $581,700. This trade represents a 13.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,922 shares of company stock valued at $11,191,812. Insiders own 0.68% of the company's stock.

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.

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