Handelsbanken Fonder AB Sells 9,607 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Handelsbanken Fonder AB reduced its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 68,752 shares of the industrial products company's stock after selling 9,607 shares during the quarter. Handelsbanken Fonder AB owned about 0.06% of Rockwell Automation worth $17,764,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust purchased a new stake in shares of Rockwell Automation during the fourth quarter valued at $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of Rockwell Automation during the fourth quarter valued at $35,000. Parvin Asset Management LLC purchased a new stake in shares of Rockwell Automation during the fourth quarter valued at $36,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Rockwell Automation during the fourth quarter valued at $38,000. Finally, Knuff & Co LLC lifted its holdings in shares of Rockwell Automation by 41.0% during the fourth quarter. Knuff & Co LLC now owns 141 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 41 shares during the last quarter. 75.75% of the stock is owned by institutional investors.

Rockwell Automation Stock Down 2.4%

Shares of NYSE ROK traded down $7.78 during mid-day trading on Friday, reaching $317.36. 696,490 shares of the company traded hands, compared to its average volume of 884,068. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08. The stock has a market cap of $35.77 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 3.53 and a beta of 1.38. The company's fifty day moving average is $279.47 and its two-hundred day moving average is $279.88. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $328.90.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $2.09 by $0.36. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. The firm's revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.50 EPS. On average, analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be issued a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Monday, August 18th. Rockwell Automation's dividend payout ratio (DPR) is currently 65.99%.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Matheus De A. G. Viera Bulho sold 526 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total value of $171,134.10. Following the completion of the sale, the senior vice president now owns 983 shares in the company, valued at approximately $319,819.05. This trade represents a 34.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew W. Fordenwalt sold 289 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $326.33, for a total value of $94,309.37. Following the completion of the sale, the senior vice president now owns 3,196 shares of the company's stock, valued at $1,042,950.68. This represents a 8.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,681 shares of company stock valued at $2,382,987 in the last 90 days. 0.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ROK has been the subject of several analyst reports. KeyCorp upped their target price on Rockwell Automation from $345.00 to $360.00 and gave the company an "overweight" rating in a report on Friday. BNP Paribas raised Rockwell Automation from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 9th. Loop Capital increased their price objective on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Thursday, May 15th. Barclays raised Rockwell Automation from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $283.00 to $350.00 in a research note on Friday, May 30th. Finally, Wells Fargo & Company increased their price objective on Rockwell Automation from $265.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Rockwell Automation has an average rating of "Moderate Buy" and an average target price of $317.79.

About Rockwell Automation

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.