Rockwell Automation, Inc. $ROK Shares Purchased by Norinchukin Bank The

Key Points

• Norinchukin Bank increased its stake in Rockwell Automation by 14.7%, resulting in ownership of 7,999 shares valued at approximately $2.07 million.
• Insiders at Rockwell Automation have sold a total of 5,818 shares worth nearly $1.94 million in recent months, indicating significant stock movements among executives.
• Rockwell Automation's latest earnings report showed a profit of $2.82 EPS, surpassing estimates, and its stock currently has a consensus rating of "Moderate Buy" with an average target price of $340.16.

Norinchukin Bank The grew its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 14.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,999 shares of the industrial products company's stock after purchasing an additional 1,028 shares during the period. Norinchukin Bank The's holdings in Rockwell Automation were worth $2,067,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Fifth Third Bancorp increased its holdings in shares of Rockwell Automation by 8.5% in the first quarter. Fifth Third Bancorp now owns 5,424 shares of the industrial products company's stock valued at $1,401,000 after purchasing an additional 423 shares during the period. CWM LLC increased its holdings in shares of Rockwell Automation by 3.7% in the first quarter. CWM LLC now owns 2,353 shares of the industrial products company's stock valued at $608,000 after purchasing an additional 84 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Rockwell Automation by 0.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company's stock valued at $1,462,000 after purchasing an additional 43 shares during the period. Brighton Jones LLC acquired a new position in shares of Rockwell Automation in the fourth quarter valued at about $281,000. Finally, J.W. Cole Advisors Inc. increased its holdings in shares of Rockwell Automation by 128.7% in the first quarter. J.W. Cole Advisors Inc. now owns 4,382 shares of the industrial products company's stock valued at $1,132,000 after purchasing an additional 2,466 shares during the period. 75.75% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Terry L. Riesterer sold 269 shares of Rockwell Automation 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 of the company's stock, valued at approximately $573,034.38. The trade was a 14.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James P. Keane sold 3,000 shares of Rockwell Automation stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $356.06, for a total value of $1,068,180.00. Following the completion of the sale, the director directly owned 9,192 shares of the company's stock, valued at $3,272,903.52. The trade was a 24.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,818 shares of company stock valued at $3,012,888. Insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ROK shares. CICC Research initiated coverage on Rockwell Automation in a research report on Monday, July 7th. They set an "outperform" rating and a $381.00 price target on the stock. Bank of America upgraded Rockwell Automation from a "neutral" rating to a "buy" rating and raised their target price for the company from $360.00 to $410.00 in a research report on Wednesday, July 16th. KeyCorp raised their target price on Rockwell Automation from $370.00 to $380.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. TD Cowen upgraded 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. Finally, Loop Capital raised 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Rockwell Automation presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.16.

Rockwell Automation Trading Down 1.8%

Rockwell Automation stock traded down $6.47 during trading on Wednesday, reaching $349.20. 1,173,898 shares of the company were exchanged, compared to its average volume of 942,357. Rockwell Automation, Inc. has a 52-week low of $215.00 and a 52-week high of $360.92. The company has a market capitalization of $39.26 billion, a P/E ratio of 40.99, a PEG ratio of 3.60 and a beta of 1.39. 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 stock's 50 day simple moving average is $342.37 and its two-hundred day simple moving average is $299.82.

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 for the quarter, compared to the consensus estimate of $2.07 billion. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The firm's revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.71 earnings per share. On average, equities research analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share 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. Stockholders of record on Monday, August 18th will be paid 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 1.5%. Rockwell Automation's payout ratio is presently 61.50%.

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.