Nordea Investment Management AB Purchases 7,485 Shares of Rockwell Automation, Inc. $ROK

Nordea Investment Management AB boosted its position in Rockwell Automation, Inc. (NYSE:ROK) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 459,480 shares of the industrial products company’s stock after purchasing an additional 7,485 shares during the quarter. Nordea Investment Management AB’s holdings in Rockwell Automation were worth $151,794,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ROK. Citizens National Bank Trust Department purchased a new position in shares of Rockwell Automation in the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Rockwell Automation in the 1st quarter worth about $31,000. IMA Advisory Services Inc. purchased a new position in shares of Rockwell Automation in the 1st quarter worth about $32,000. Cooksen Wealth LLC purchased a new position in shares of Rockwell Automation in the 1st quarter worth about $34,000. Finally, Legend Financial Advisors Inc. purchased a new position in shares of Rockwell Automation in the 2nd quarter worth about $39,000. Institutional investors own 75.75% of the company’s stock.

Insider Transactions at Rockwell Automation

In other news, SVP Cyril Perducat sold 1,435 shares of Rockwell Automation stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $348.08, for a total transaction of $499,494.80. Following the transaction, the senior vice president directly owned 3,787 shares of the company’s stock, valued at $1,318,178.96. The trade was a 27.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James P. Keane sold 3,000 shares of Rockwell Automation stock in a transaction dated 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 transaction, the director directly owned 9,192 shares in the company, valued at approximately $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. Over the last three months, insiders sold 29,553 shares of company stock valued at $10,361,079. Company insiders own 0.68% of the company’s stock.

Rockwell Automation Trading Down 0.2%

Shares of NYSE:ROK opened at $347.19 on Friday. The stock has a market capitalization of $39.03 billion, a price-to-earnings ratio of 40.75, a PEG ratio of 3.12 and a beta of 1.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06. The stock’s 50-day simple moving average is $344.56 and its two-hundred day simple moving average is $317.27. Rockwell Automation, Inc. has a 52-week low of $215.00 and a 52-week high of $360.92.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 30.14% and a net margin of 12.03%.The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $2.71 earnings per share. Analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ROK shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rockwell Automation in a research report on Wednesday, October 8th. Stephens reaffirmed an “overweight” rating and issued a $375.00 price target (up previously from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. Bank of America raised Rockwell Automation from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $360.00 to $410.00 in a research report on Wednesday, July 16th. KeyCorp lifted their price objective on Rockwell Automation from $370.00 to $380.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded Rockwell Automation from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $347.94.

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.