Norges Bank Acquires Shares of 919,707 Rockwell Automation, Inc. (NYSE:ROK)
Norges Bank purchased a new position in shares of Rockwell Automation, Inc. (NYSE:ROK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 919,707 shares of the industrial products company’s stock, valued at approximately $230,672,000.
Other hedge funds have also recently modified their holdings of the company. BDO Wealth Advisors LLC grew its position in Rockwell Automation by 177.8% during the 4th quarter. BDO Wealth Advisors LLC now owns 125 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 80 shares during the last quarter. RMR Wealth Builders bought a new stake in Rockwell Automation during the 4th quarter worth $43,000. Hexavest Inc. grew its position in Rockwell Automation by 45.4% during the 4th quarter. Hexavest Inc. now owns 173 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 54 shares during the last quarter. Graves Light Private Wealth Management Inc. bought a new stake in Rockwell Automation during the 4th quarter worth $46,000. Finally, Sowell Financial Services LLC grew its position in shares of Rockwell Automation by 24.1% in the 4th quarter. Sowell Financial Services LLC now owns 196 shares of the industrial products company’s stock valued at $49,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 76.21% of the company’s stock.
A number of equities research analysts have commented on ROK shares. Barclays upped their price target on Rockwell Automation from $265.00 to $269.00 and gave the company an “equal weight” rating in a research report on Tuesday. Rosenblatt Securities reduced their price target on Rockwell Automation from $245.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 27th. Robert W. Baird upgraded Rockwell Automation from a “neutral” rating to an “outperform” rating and upped their price target for the company from $253.00 to $275.00 in a research report on Wednesday, January 27th. Morgan Stanley upped their price target on Rockwell Automation from $291.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, March 29th. Finally, Credit Suisse Group reduced their price target on Rockwell Automation from $254.00 to $248.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 27th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $248.71.
ROK stock opened at $261.27 on Thursday. The stock’s 50 day simple moving average is $257.43 and its 200 day simple moving average is $248.33. Rockwell Automation, Inc. has a fifty-two week low of $154.80 and a fifty-two week high of $275.43. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.16 and a current ratio of 1.48. The company has a market cap of $30.35 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 3.26 and a beta of 1.37.
Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Monday, January 25th. The industrial products company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.49. Rockwell Automation had a return on equity of 81.39% and a net margin of 16.17%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the business earned $2.11 EPS. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. Equities analysts predict that Rockwell Automation, Inc. will post 8.65 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Tuesday, February 16th were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Friday, February 12th. Rockwell Automation’s dividend payout ratio (DPR) is currently 55.73%.
Rockwell Automation Company Profile
Rockwell Automation, Inc provides industrial automation and digital transformation solutions. The company operates in two segments, Architecture & Software, and Control Products & Solutions. The Architecture & Software segment offers a portfolio of automation and information platforms, including hardware and software.
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