Jennison Associates LLC Takes $24.15 Million Position in Rockwell Automation, Inc. $ROK

Jennison Associates LLC acquired a new stake in Rockwell Automation, Inc. (NYSE:ROK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 72,693 shares of the industrial products company’s stock, valued at approximately $24,147,000. Jennison Associates LLC owned about 0.06% of Rockwell Automation as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ROK. Brighton Jones LLC purchased a new position in shares of Rockwell Automation in the 4th quarter valued at about $281,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Rockwell Automation by 0.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company’s stock valued at $1,462,000 after acquiring an additional 43 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Rockwell Automation by 3.8% in the 1st quarter. Golden State Wealth Management LLC now owns 2,596 shares of the industrial products company’s stock valued at $671,000 after acquiring an additional 96 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Rockwell Automation by 32.5% in the 1st quarter. Mather Group LLC. now owns 942 shares of the industrial products company’s stock valued at $243,000 after acquiring an additional 231 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Rockwell Automation by 1,453.3% in the 1st quarter. Teacher Retirement System of Texas now owns 16,512 shares of the industrial products company’s stock valued at $4,266,000 after acquiring an additional 15,449 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Trading Down 0.6%

NYSE:ROK opened at $365.88 on Friday. The firm has a market cap of $41.14 billion, a P/E ratio of 42.94, a PEG ratio of 3.30 and a beta of 1.41. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. The stock’s 50 day simple moving average is $347.65 and its 200-day simple moving average is $325.70. Rockwell Automation, Inc. has a 12-month low of $215.00 and a 12-month high of $375.02.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.15. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.71 earnings per share. Equities analysts anticipate that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Wall Street Analysts Forecast Growth

ROK has been the topic of a number of recent analyst reports. Citigroup reiterated a “buy” rating on shares of Rockwell Automation in a report on Thursday, October 9th. Barclays upped their target price on Rockwell Automation from $357.00 to $370.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Oppenheimer upped their target price on Rockwell Automation from $363.00 to $365.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Wells Fargo & Company upped their target price on Rockwell Automation from $345.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. Finally, JPMorgan Chase & Co. upped their target price on Rockwell Automation from $320.00 to $357.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $347.94.

Insider Buying and Selling

In other news, Director James P. Keane sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $356.06, for a total value of $1,068,180.00. Following the completion of the sale, the director directly owned 9,192 shares of the company’s stock, valued at $3,272,903.52. This trade represents a 24.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Isaac Woods sold 365 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $348.44, for a total value of $127,180.60. Following the completion of the sale, the vice president directly owned 1,691 shares of the company’s stock, valued at $589,212.04. This represents a 17.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 29,553 shares of company stock worth $10,361,079. 0.68% of the stock is currently owned by company insiders.

Rockwell Automation 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.