Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd reduced its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 86.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,802 shares of the industrial products company’s stock after selling 11,264 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Rockwell Automation were worth $496,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Hardin Capital Partners LLC purchased a new stake in Rockwell Automation during the 2nd quarter valued at about $322,000. Federated Hermes Inc. boosted its position in Rockwell Automation by 10.1% in the second quarter. Federated Hermes Inc. now owns 116,836 shares of the industrial products company’s stock valued at $32,163,000 after buying an additional 10,701 shares during the last quarter. GHP Investment Advisors Inc. raised its position in Rockwell Automation by 3.3% during the 2nd quarter. GHP Investment Advisors Inc. now owns 45,750 shares of the industrial products company’s stock worth $12,594,000 after buying an additional 1,482 shares during the last quarter. TradeLink Capital LLC acquired a new stake in Rockwell Automation during the 2nd quarter valued at approximately $303,000. Finally, Meeder Advisory Services Inc. increased its stake in shares of Rockwell Automation by 24.2% in the second quarter. Meeder Advisory Services Inc. now owns 2,669 shares of the industrial products company’s stock worth $735,000 after acquiring an additional 520 shares during the period. 75.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ROK has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Redburn Atlantic began coverage on Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Morgan Stanley initiated coverage on shares of Rockwell Automation in a research note on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective on the stock. Finally, Oppenheimer lowered their price target on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $282.80.

Rockwell Automation Trading Down 0.3 %

ROK stock opened at $262.08 on Tuesday. The stock has a market cap of $29.88 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 4.57 and a beta of 1.37. The business’s 50-day moving average is $265.79 and its 200 day moving average is $270.57. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. 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 (NYSE:ROK) last announced its quarterly earnings data 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. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm posted $3.01 EPS. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, sell-side analysts anticipate that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation declared that its board has authorized a share buyback program on Thursday, September 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.