KLP Kapitalforvaltning AS Invests $11.02 Million in Rockwell Automation, Inc. (NYSE:ROK)

KLP Kapitalforvaltning AS purchased a new stake in Rockwell Automation, Inc. (NYSE:ROK) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 38,570 shares of the industrial products company’s stock, valued at approximately $11,023,000.

A number of other large investors have also recently modified their holdings of the company. MCF Advisors LLC lifted its holdings in shares of Rockwell Automation by 95.8% in the 4th quarter. MCF Advisors LLC now owns 2,332 shares of the industrial products company’s stock worth $667,000 after buying an additional 1,141 shares during the period. Ameritas Advisory Services LLC lifted its stake in Rockwell Automation by 99.1% in the fourth quarter. Ameritas Advisory Services LLC now owns 5,187 shares of the industrial products company’s stock worth $1,482,000 after acquiring an additional 2,582 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in Rockwell Automation by 6.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 34,209 shares of the industrial products company’s stock worth $9,184,000 after acquiring an additional 1,928 shares during the period. Nordea Investment Management AB grew its holdings in Rockwell Automation by 5.9% during the 4th quarter. Nordea Investment Management AB now owns 462,537 shares of the industrial products company’s stock worth $132,554,000 after acquiring an additional 25,882 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Rockwell Automation by 7.3% during the 3rd quarter. Wellington Management Group LLP now owns 789 shares of the industrial products company’s stock valued at $212,000 after purchasing an additional 54 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Price Performance

NYSE ROK opened at $268.25 on Tuesday. The company has a market cap of $30.33 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 3.53 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72. The stock’s fifty day moving average price is $279.98 and its 200 day moving average price is $278.67. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year 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, beating analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. As a group, equities research 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 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 1.95%. The ex-dividend date of this dividend was Tuesday, February 18th. Rockwell Automation’s payout ratio is 65.26%.

Insider Activity

In other Rockwell Automation news, SVP Tessa M. Myers sold 1,231 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $285.43, for a total value of $351,364.33. Following the sale, the senior vice president now directly owns 3,650 shares of the company’s stock, valued at approximately $1,041,819.50. This represents a 25.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Isaac Woods sold 895 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $274.72, for a total value of $245,874.40. Following the sale, the vice president now directly owns 1,198 shares in the company, valued at $329,114.56. This represents a 42.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,352 shares of company stock valued at $1,246,298 in the last ninety days. Insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Loop Capital upped their price target on shares of Rockwell Automation from $260.00 to $280.00 and gave the stock a “hold” rating in a research report on Tuesday, February 25th. Morgan Stanley increased their target price on Rockwell Automation from $335.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on Rockwell Automation from $315.00 to $337.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Barclays dropped their price objective on Rockwell Automation from $300.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th. Finally, Stephens raised shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $275.00 to $350.00 in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Rockwell Automation currently has an average rating of “Hold” and a consensus price target of $307.68.

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.