DnB Asset Management AS Cuts Stake in Rockwell Automation, Inc. (NYSE:ROK)

DnB Asset Management AS cut its stake in Rockwell Automation, Inc. (NYSE:ROK) by 0.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 121,993 shares of the industrial products company’s stock after selling 233 shares during the period. DnB Asset Management AS owned approximately 0.11% of Rockwell Automation worth $40,191,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ROK. New Hampshire Trust acquired a new stake in shares of Rockwell Automation during the 4th quarter worth $26,000. Neo Ivy Capital Management purchased a new stake in Rockwell Automation during the second quarter valued at about $29,000. Clear Street Markets LLC acquired a new stake in Rockwell Automation during the fourth quarter worth about $30,000. Delta Asset Management LLC TN acquired a new stake in Rockwell Automation during the fourth quarter worth about $32,000. Finally, First Manhattan Co. raised its holdings in shares of Rockwell Automation by 150.0% in the 4th quarter. First Manhattan Co. now owns 125 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 75 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Automation Stock Up 0.1 %

Shares of ROK traded up $0.33 during trading on Thursday, reaching $285.80. The company’s stock had a trading volume of 196,442 shares, compared to its average volume of 736,469. Rockwell Automation, Inc. has a twelve month low of $209.27 and a twelve month high of $348.52. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 0.79. The company has a market cap of $32.83 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 2.06 and a beta of 1.45. The company has a fifty day moving average of $314.49 and a two-hundred day moving average of $298.55.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $3.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.19 by ($0.18). The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.33 billion. Rockwell Automation had a net margin of 16.51% and a return on equity of 40.33%. The company’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.66 earnings per share. On average, sell-side analysts predict that Rockwell Automation, Inc. will post 11.94 EPS for the current fiscal year.

Insider Activity

In related news, VP Isaac Woods sold 150 shares of Rockwell Automation stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $325.00, for a total value of $48,750.00. Following the completion of the transaction, the vice president now directly owns 940 shares in the company, valued at $305,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Tessa M. Myers sold 677 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $301.18, for a total value of $203,898.86. Following the transaction, the senior vice president now directly owns 2,880 shares in the company, valued at approximately $867,398.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Isaac Woods sold 150 shares of Rockwell Automation stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $325.00, for a total transaction of $48,750.00. Following the completion of the transaction, the vice president now directly owns 940 shares of the company’s stock, valued at $305,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,327 shares of company stock worth $401,459. 0.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ROK has been the subject of a number of research analyst reports. Wolfe Research raised shares of Rockwell Automation from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, July 11th. Bank of America cut their target price on shares of Rockwell Automation from $375.00 to $335.00 in a research note on Wednesday, August 2nd. Jefferies Financial Group started coverage on shares of Rockwell Automation in a report on Tuesday, June 27th. They set a “hold” rating and a $335.00 target price on the stock. Morgan Stanley increased their price target on Rockwell Automation from $340.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. Finally, Wells Fargo & Company upgraded Rockwell Automation from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $290.00 to $317.00 in a research note on Tuesday, August 29th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation presently has a consensus rating of “Hold” and an average target price of $289.00.

About Rockwell Automation

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.