Norges Bank Makes New Investment in Rockwell Automation, Inc. (NYSE:ROK)


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Norges Bank purchased a new position in shares of Rockwell Automation, Inc. (NYSE:ROK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 919,707 shares of the industrial products company’s stock, valued at approximately $230,672,000. Norges Bank owned about 0.79% of Rockwell Automation as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ROK. BlackRock Inc. raised its stake in Rockwell Automation by 2.6% during the fourth quarter. BlackRock Inc. now owns 8,650,528 shares of the industrial products company’s stock worth $2,169,639,000 after acquiring an additional 215,175 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Rockwell Automation by 6.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,437,253 shares of the industrial products company’s stock worth $360,477,000 after acquiring an additional 82,791 shares in the last quarter. Lazard Asset Management LLC raised its stake in Rockwell Automation by 6.6% during the fourth quarter. Lazard Asset Management LLC now owns 1,193,398 shares of the industrial products company’s stock worth $299,315,000 after acquiring an additional 74,043 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Rockwell Automation by 5.7% during the fourth quarter. UBS Asset Management Americas Inc. now owns 945,790 shares of the industrial products company’s stock worth $237,214,000 after acquiring an additional 51,350 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Rockwell Automation by 4.6% during the fourth quarter. Alliancebernstein L.P. now owns 835,832 shares of the industrial products company’s stock worth $209,635,000 after purchasing an additional 37,021 shares during the last quarter. Institutional investors and hedge funds own 76.21% of the company’s stock.

In related news, SVP Frank C. Kulaszewicz sold 100 shares of Rockwell Automation stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $255.14, for a total value of $25,514.00. Following the sale, the senior vice president now owns 19,462 shares of the company’s stock, valued at approximately $4,965,534.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Blake D. Moret sold 16,900 shares of Rockwell Automation stock in a transaction that occurred on Thursday, January 21st. The shares were sold at an average price of $268.08, for a total value of $4,530,552.00. Following the completion of the sale, the chief executive officer now directly owns 65,785 shares in the company, valued at approximately $17,635,642.80. The disclosure for this sale can be found here. In the last three months, insiders sold 22,200 shares of company stock worth $5,873,278. 0.79% of the stock is owned by insiders.

Several equities analysts have weighed in on ROK shares. Citigroup cut their target price on Rockwell Automation from $297.00 to $291.00 in a research note on Wednesday, January 27th. Vertical Research raised Rockwell Automation from a “sell” rating to a “hold” rating in a research note on Monday, January 4th. Rosenblatt Securities cut their target price on Rockwell Automation from $245.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 27th. Morgan Stanley increased their target price on Rockwell Automation from $291.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, March 29th. Finally, Credit Suisse Group cut their target price on Rockwell Automation from $254.00 to $248.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 27th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $248.71.

NYSE ROK opened at $261.27 on Thursday. The firm has a market cap of $30.35 billion, a P/E ratio of 29.79, a P/E/G ratio of 3.26 and a beta of 1.37. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.48 and a quick ratio of 1.16. The stock’s 50-day moving average is $257.43 and its 200-day moving average is $248.33. Rockwell Automation, Inc. has a one year low of $154.80 and a one year high of $275.43.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Monday, January 25th. The industrial products company reported $2.38 EPS for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.49. Rockwell Automation had a return on equity of 81.39% and a net margin of 16.17%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm posted $2.11 earnings per share. Rockwell Automation’s revenue was down 7.1% compared to the same quarter last year. Equities analysts anticipate that Rockwell Automation, Inc. will post 8.65 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Tuesday, February 16th were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Friday, February 12th. Rockwell Automation’s dividend payout ratio is presently 55.73%.

Rockwell Automation Profile

Rockwell Automation, Inc provides industrial automation and digital transformation solutions. The company operates in two segments, Architecture & Software, and Control Products & Solutions. The Architecture & Software segment offers a portfolio of automation and information platforms, including hardware and software.

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

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