DNB Asset Management AS Has $12.09 Million Stake in Rockwell Automation (NYSE:ROK)

DNB Asset Management AS reduced its stake in shares of Rockwell Automation (NYSE:ROK) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,771 shares of the industrial products company’s stock after selling 1,396 shares during the period. DNB Asset Management AS’s holdings in Rockwell Automation were worth $12,092,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. BlackRock Inc. raised its position in Rockwell Automation by 5.5% during the 1st quarter. BlackRock Inc. now owns 9,486,884 shares of the industrial products company’s stock worth $1,431,668,000 after purchasing an additional 495,939 shares during the last quarter. JPMorgan Chase & Co. raised its position in Rockwell Automation by 30.4% during the 1st quarter. JPMorgan Chase & Co. now owns 2,220,020 shares of the industrial products company’s stock worth $335,024,000 after purchasing an additional 516,986 shares during the last quarter. Geode Capital Management LLC raised its position in Rockwell Automation by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 2,154,296 shares of the industrial products company’s stock worth $324,865,000 after purchasing an additional 73,193 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Rockwell Automation by 169.2% in the 1st quarter. Wellington Management Group LLP now owns 2,078,665 shares of the industrial products company’s stock worth $313,692,000 after acquiring an additional 1,306,643 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Rockwell Automation by 150.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,412,528 shares of the industrial products company’s stock worth $213,165,000 after acquiring an additional 848,273 shares in the last quarter. 77.35% of the stock is owned by institutional investors and hedge funds.

In other news, VP Steven W. Etzel sold 1,700 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $218.26, for a total value of $371,042.00. Following the transaction, the vice president now owns 10,623 shares of the company’s stock, valued at $2,318,575.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James Phillip Holloman sold 1,582 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $194.34, for a total transaction of $307,445.88. The disclosure for this sale can be found here. Insiders have sold a total of 25,036 shares of company stock worth $5,292,882 in the last three months. Insiders own 0.77% of the company’s stock.

Several research firms have recently weighed in on ROK. Bank of America raised Rockwell Automation from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a research report on Tuesday, May 26th. Rosenblatt Securities lowered Rockwell Automation from a “neutral” rating to a “sell” rating and boosted their target price for the company from $155.00 to $173.00 in a research report on Wednesday, April 29th. G.Research downgraded Rockwell Automation from a “hold” rating to a “sell” rating in a research note on Thursday, April 30th. Citigroup lifted their price target on Rockwell Automation from $155.00 to $198.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, Vertical Research downgraded Rockwell Automation from a “hold” rating to a “sell” rating and set a $120.00 target price on the stock. in a research note on Tuesday, March 31st. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $193.06.

Rockwell Automation stock opened at $212.28 on Thursday. Rockwell Automation has a 12 month low of $115.38 and a 12 month high of $230.71. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 2.37. The business’s 50 day simple moving average is $211.54 and its 200 day simple moving average is $191.34. The company has a market cap of $24.49 billion, a price-to-earnings ratio of 35.03, a PEG ratio of 5.41 and a beta of 1.50.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.43 EPS for the quarter, beating the consensus estimate of $1.82 by $0.61. Rockwell Automation had a return on equity of 118.85% and a net margin of 10.54%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the business earned $2.04 earnings per share. Rockwell Automation’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities research analysts forecast that Rockwell Automation will post 7.19 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be issued a dividend of $1.02 per share. The ex-dividend date is Friday, August 14th. This represents a $4.08 dividend on an annualized basis and a yield of 1.92%. Rockwell Automation’s payout ratio is 47.06%.

About Rockwell Automation

Rockwell Automation, Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.

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Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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