Handelsbanken Fonder AB Sells 38,900 Shares of Rockwell Automation, Inc. (ROK)
Handelsbanken Fonder AB lowered its position in Rockwell Automation, Inc. (NYSE:ROK) by 22.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,700 shares of the industrial products company’s stock after selling 38,900 shares during the period. Handelsbanken Fonder AB owned 0.10% of Rockwell Automation worth $20,351,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. increased its position in Rockwell Automation by 18.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,644 shares of the industrial products company’s stock valued at $2,099,000 after buying an additional 2,386 shares during the last quarter. Wells Fargo & Company MN increased its position in Rockwell Automation by 4.6% in the third quarter. Wells Fargo & Company MN now owns 1,061,980 shares of the industrial products company’s stock valued at $129,923,000 after buying an additional 46,545 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC bought a new position in shares of Rockwell Automation during the third quarter worth about $25,571,000. FNY Partners Fund LP bought a new position in shares of Rockwell Automation during the fourth quarter worth about $672,000. Finally, State Street Corp increased its position in shares of Rockwell Automation by 5.1% in the fourth quarter. State Street Corp now owns 5,673,347 shares of the industrial products company’s stock worth $762,494,000 after buying an additional 275,293 shares in the last quarter. 73.95% of the stock is owned by hedge funds and other institutional investors.
Shares of Rockwell Automation, Inc. (NYSE ROK) traded up 1.54% during mid-day trading on Friday, reaching $164.09. The company’s stock had a trading volume of 1,112,024 shares. Rockwell Automation, Inc. has a 52 week low of $107.17 and a 52 week high of $165.00. The company’s 50-day moving average is $158.42 and its 200-day moving average is $150.13. The stock has a market capitalization of $21.14 billion, a price-to-earnings ratio of 27.39 and a beta of 1.08.
Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, April 26th. The industrial products company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.40 by $0.15. Rockwell Automation had a net margin of 12.88% and a return on equity of 39.71%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. Rockwell Automation’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts predict that Rockwell Automation, Inc. will post $6.64 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 14th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.85%. The ex-dividend date is Thursday, August 10th. Rockwell Automation’s dividend payout ratio (DPR) is 50.75%.
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A number of research analysts have recently issued reports on the company. Berenberg Bank reiterated a “sell” rating and issued a $125.00 price target on shares of Rockwell Automation in a report on Wednesday, February 22nd. Stifel Nicolaus lifted their price target on Rockwell Automation from $159.00 to $167.00 and gave the company a “hold” rating in a report on Friday, April 28th. Credit Suisse Group reiterated a “hold” rating and issued a $145.00 price target on shares of Rockwell Automation in a report on Thursday, March 30th. Barclays PLC set a $176.00 price target on Rockwell Automation and gave the company a “buy” rating in a report on Wednesday, April 26th. Finally, Morgan Stanley lifted their price target on Rockwell Automation from $153.00 to $167.00 and gave the company an “equal weight” rating in a report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $141.50.
In other news, Director Keith D. Nosbusch sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $156.00, for a total value of $1,560,000.00. Following the completion of the sale, the director now directly owns 411,286 shares of the company’s stock, valued at approximately $64,160,616. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Sujeet Chand sold 9,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $159.72, for a total transaction of $1,517,340.00. Following the completion of the sale, the senior vice president now directly owns 46,873 shares of the company’s stock, valued at $7,486,555.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,605 shares of company stock valued at $20,469,855. 1.65% of the stock is owned by insiders.
Rockwell Automation Company Profile
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
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