Handelsbanken Fonder AB Trims Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Handelsbanken Fonder AB decreased its position in Rockwell Automation, Inc. (NYSE:ROK) by 64.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,359 shares of the industrial products company’s stock after selling 141,808 shares during the quarter. Handelsbanken Fonder AB’s holdings in Rockwell Automation were worth $22,394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ROK. Creative Planning increased its stake in shares of Rockwell Automation by 3.2% in the 3rd quarter. Creative Planning now owns 25,927 shares of the industrial products company’s stock worth $6,960,000 after acquiring an additional 807 shares in the last quarter. Blue Trust Inc. grew its holdings in Rockwell Automation by 89.8% in the third quarter. Blue Trust Inc. now owns 744 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 352 shares during the period. Eastern Bank bought a new position in shares of Rockwell Automation during the third quarter valued at approximately $266,000. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Rockwell Automation during the third quarter valued at approximately $547,000. Finally, Greenleaf Trust boosted its position in shares of Rockwell Automation by 77.2% in the 3rd quarter. Greenleaf Trust now owns 5,422 shares of the industrial products company’s stock worth $1,456,000 after purchasing an additional 2,363 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Up 1.2 %

ROK stock opened at $302.89 on Friday. The company has a market cap of $34.25 billion, a price-to-earnings ratio of 37.72, a P/E/G ratio of 3.23 and a beta of 1.35. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08. The business’s 50-day moving average is $286.35 and its two-hundred day moving average is $276.66. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $308.70.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.22. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. As a group, analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Tuesday, February 18th. Rockwell Automation’s payout ratio is 65.26%.

Wall Street Analysts Forecast Growth

ROK has been the subject of a number of recent research reports. Citigroup lifted their price objective on Rockwell Automation from $345.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Barclays lifted their price target on Rockwell Automation from $285.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Stephens raised shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $275.00 to $350.00 in a research report on Thursday, January 16th. JPMorgan Chase & Co. decreased their target price on shares of Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating for the company in a report on Wednesday, January 15th. Finally, Robert W. Baird increased their price target on shares of Rockwell Automation from $305.00 to $315.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $308.05.

Insider Transactions at Rockwell Automation

In related news, SVP Cyril Perducat sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,630 shares in the company, valued at approximately $1,089,000. The trade was a 21.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Blake D. Moret sold 26,700 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the sale, the chief executive officer now owns 78,115 shares in the company, valued at approximately $23,327,482.45. The trade was a 25.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,240 shares of company stock worth $10,800,555 in the last three months. Corporate insiders own 0.68% of the company’s stock.

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.