Norges Bank Invests $284.18 Million in Rockwell Automation, Inc. (NYSE:ROK)

Norges Bank acquired a new stake in Rockwell Automation, Inc. (NYSE:ROK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 994,355 shares of the industrial products company’s stock, valued at approximately $284,177,000. Norges Bank owned approximately 0.88% of Rockwell Automation as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. West Oak Capital LLC grew its stake in shares of Rockwell Automation by 455.6% in the fourth quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 82 shares in the last quarter. Bank of Jackson Hole Trust acquired a new position in Rockwell Automation during the 4th quarter worth $34,000. SBI Securities Co. Ltd. purchased a new stake in Rockwell Automation during the 4th quarter worth about $35,000. Flagship Wealth Advisors LLC purchased a new position in shares of Rockwell Automation in the 4th quarter valued at about $38,000. Finally, Knuff & Co LLC grew its position in shares of Rockwell Automation by 41.0% during the fourth quarter. Knuff & Co LLC now owns 141 shares of the industrial products company’s stock worth $40,000 after buying an additional 41 shares in the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Stock Performance

NYSE ROK opened at $258.22 on Friday. The firm has a market cap of $29.20 billion, a P/E ratio of 32.16, a P/E/G ratio of 3.53 and a beta of 1.39. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $308.70. The business’s 50-day moving average price is $278.93 and its 200 day moving average price is $278.76. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.72.

Rockwell Automation (NYSE:ROK) last released its earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) 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%. On average, equities research analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Announces Dividend

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

Insider Transactions at Rockwell Automation

In other news, VP Isaac Woods sold 895 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $274.72, for a total transaction of $245,874.40. Following the completion of the transaction, the vice president now directly owns 1,198 shares of the company’s stock, valued at approximately $329,114.56. This represents a 42.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Scott Genereux sold 500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $290.14, for a total value of $145,070.00. Following the completion of the transaction, the vice president now owns 1,905 shares of the company’s stock, valued at $552,716.70. The trade was a 20.79 % 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. Company insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ROK shares. Oppenheimer lifted their price target on shares of Rockwell Automation from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. The Goldman Sachs Group increased their target price on Rockwell Automation from $257.00 to $290.00 and gave the company a “sell” rating in a report on Tuesday, February 11th. Jefferies Financial Group raised Rockwell Automation from a “hold” rating to a “buy” rating and lifted their price target for the stock from $290.00 to $350.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. dropped their price objective on Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating on the stock in a report on Wednesday, January 15th. Finally, Robert W. Baird boosted their target price on Rockwell Automation from $305.00 to $315.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $307.42.

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.