Forsta AP Fonden Has $12.86 Million Stake in Rockwell Automation, Inc. (NYSE:ROK)

Forsta AP Fonden increased its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,900 shares of the industrial products company's stock after purchasing an additional 1,900 shares during the quarter. Forsta AP Fonden's holdings in Rockwell Automation were worth $12,859,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ROK. Price T Rowe Associates Inc. MD lifted its position in Rockwell Automation by 951.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company's stock worth $1,611,915,000 after purchasing an additional 5,006,706 shares during the period. International Assets Investment Management LLC lifted its position in Rockwell Automation by 29,591.7% during the third quarter. International Assets Investment Management LLC now owns 936,178 shares of the industrial products company's stock worth $251,326,000 after purchasing an additional 933,025 shares during the period. Van ECK Associates Corp lifted its position in Rockwell Automation by 1,119.3% during the second quarter. Van ECK Associates Corp now owns 763,351 shares of the industrial products company's stock worth $210,135,000 after purchasing an additional 700,745 shares during the period. Vanguard Group Inc. lifted its position in Rockwell Automation by 3.2% during the first quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company's stock worth $4,092,891,000 after purchasing an additional 438,356 shares during the period. Finally, Swedbank AB bought a new stake in Rockwell Automation during the first quarter worth about $118,345,000. Institutional investors own 75.75% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Robert W. Baird dropped their target price on shares of Rockwell Automation from $304.00 to $280.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Morgan Stanley assumed coverage on shares of Rockwell Automation in a report on Friday, September 6th. They issued an "overweight" rating and a $320.00 target price for the company. TD Cowen dropped their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a "sell" rating for the company in a report on Thursday, August 8th. Redburn Atlantic assumed coverage on shares of Rockwell Automation in a report on Monday, July 8th. They issued a "neutral" rating and a $256.00 target price for the company. Finally, Barclays dropped their target price on shares of Rockwell Automation from $250.00 to $245.00 and set an "underweight" rating for the company in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $286.47.

Rockwell Automation Trading Up 0.8 %

NYSE:ROK traded up $2.18 on Friday, reaching $269.86. 380,817 shares of the stock traded hands, compared to its average volume of 873,659. The firm has a market capitalization of $30.76 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 4.68 and a beta of 1.36. The company's 50 day moving average is $265.79 and its 200-day moving average is $267.05. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.63. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The company's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.01 EPS. Equities research analysts anticipate that Rockwell Automation, Inc. will post 9.65 EPS for the current fiscal year.

Rockwell Automation announced that its board has authorized a share repurchase plan on Thursday, September 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Rockwell Automation Company 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.