Rockwell Automation, Inc. (NYSE:ROK) is Mandatum Life Insurance Co Ltd’s 10th Largest Position

Mandatum Life Insurance Co Ltd increased its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 150.0% in the 3rd quarter, Holdings Channel reports. The firm owned 25,000 shares of the industrial products company’s stock after buying an additional 15,000 shares during the period. Rockwell Automation accounts for approximately 2.1% of Mandatum Life Insurance Co Ltd’s holdings, making the stock its 10th biggest position. Mandatum Life Insurance Co Ltd’s holdings in Rockwell Automation were worth $6,712,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of 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 valued at $4,092,891,000 after purchasing an additional 438,356 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings 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 valued at $1,611,915,000 after buying an additional 5,006,706 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Rockwell Automation by 32.0% during the first quarter. Lazard Asset Management LLC now owns 1,510,019 shares of the industrial products company’s stock valued at $439,912,000 after buying an additional 365,795 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Rockwell Automation by 6.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 955,574 shares of the industrial products company’s stock valued at $278,387,000 after buying an additional 54,948 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its holdings in Rockwell Automation by 82.4% during the first quarter. Champlain Investment Partners LLC now owns 859,717 shares of the industrial products company’s stock valued at $250,461,000 after buying an additional 388,400 shares during the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ROK has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Bank of America upped their price target on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. dropped their price target on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Morgan Stanley initiated coverage on shares of Rockwell Automation in a research report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price target for the company. Finally, Redburn Atlantic initiated coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 target price for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $286.47.

Rockwell Automation Price Performance

ROK stock traded down $2.02 during trading on Monday, hitting $270.80. 196,222 shares of the company’s stock traded hands, compared to its average volume of 881,466. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $312.76. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04. The business has a fifty day simple moving average of $264.95 and a 200 day simple moving average of $267.50. The stock has a market capitalization of $30.87 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 4.64 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.63. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm posted $3.01 earnings per share. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, research analysts expect that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management 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.