Norges Bank Acquires New Shares in Rockwell Automation, Inc. (NYSE:ROK)

Norges Bank bought a new position in shares of Rockwell Automation, Inc. (NYSE:ROK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 994,355 shares of the industrial products company’s stock, valued at approximately $284,177,000.

Several other large investors also recently bought and sold shares of ROK. West Oak Capital LLC boosted its position in shares of Rockwell Automation by 455.6% in the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after buying an additional 82 shares in the last quarter. Bank of Jackson Hole Trust acquired a new position in Rockwell Automation during the fourth quarter worth about $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of Rockwell Automation in the fourth quarter valued at about $35,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Rockwell Automation in the fourth quarter valued at approximately $38,000. Finally, Knuff & Co LLC lifted its stake in Rockwell Automation by 41.0% in the 4th quarter. Knuff & Co LLC now owns 141 shares of the industrial products company’s stock valued at $40,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Insider Transactions at Rockwell Automation

In related news, VP Isaac Woods sold 895 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $274.72, for a total transaction of $245,874.40. Following the completion of the sale, the vice president now owns 1,198 shares of the company’s stock, valued at $329,114.56. This represents a 42.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Terry L. Riesterer sold 850 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $300.21, for a total transaction of $255,178.50. Following the completion of the transaction, the vice president now directly owns 1,633 shares in the company, valued at $490,242.93. This represents a 34.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,352 shares of company stock worth $1,246,298. 0.68% of the stock is currently owned by corporate insiders.

Rockwell Automation Stock Down 3.7 %

ROK stock opened at $258.22 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. The firm has a 50 day simple moving average of $278.93 and a 200-day simple moving average of $278.76. The company has a market capitalization of $29.20 billion, a P/E ratio of 32.16, a PEG ratio of 3.53 and a beta of 1.39. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $308.70.

Rockwell Automation (NYSE:ROK) last announced 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%. On average, equities research analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Tuesday, February 18th. Rockwell Automation’s payout ratio is currently 65.26%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citigroup boosted their price target on Rockwell Automation from $345.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. cut their price target on Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating for the company in a report on Wednesday, January 15th. Wells Fargo & Company raised their price objective on Rockwell Automation from $315.00 to $337.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Robert W. Baird upped their target price on Rockwell Automation from $305.00 to $315.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, BNP Paribas lowered Rockwell Automation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Rockwell Automation has a consensus rating of “Hold” and a consensus target price of $307.42.

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.