Principal Financial Group Inc. Has $57.71 Million Stock Holdings in Rockwell Automation, Inc. $ROK

Principal Financial Group Inc. reduced its stake in Rockwell Automation, Inc. (NYSE:ROK) by 34.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 165,112 shares of the industrial products company’s stock after selling 85,031 shares during the period. Principal Financial Group Inc. owned 0.15% of Rockwell Automation worth $57,712,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. grew its stake in Rockwell Automation by 468.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 91 shares of the industrial products company’s stock valued at $32,000 after buying an additional 75 shares during the last quarter. Rexford Capital Inc. acquired a new position in shares of Rockwell Automation in the second quarter valued at approximately $33,000. SBI Securities Co. Ltd. increased its stake in shares of Rockwell Automation by 48.7% during the second quarter. SBI Securities Co. Ltd. now owns 116 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 38 shares during the period. Financial Gravity Companies Inc. bought a new position in shares of Rockwell Automation during the second quarter worth approximately $40,000. Finally, Sachetta LLC lifted its holdings in Rockwell Automation by 900.0% during the 3rd quarter. Sachetta LLC now owns 120 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 108 shares during the last quarter. 75.75% of the stock is owned by institutional investors.

Rockwell Automation Price Performance

ROK stock opened at $430.35 on Thursday. The company’s 50-day moving average price is $406.96 and its two-hundred day moving average price is $371.99. Rockwell Automation, Inc. has a 12 month low of $215.00 and a 12 month high of $438.72. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.70. The firm has a market cap of $48.32 billion, a P/E ratio of 56.18, a P/E/G ratio of 3.02 and a beta of 1.52.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Thursday, November 6th. The industrial products company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.40. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $2.19 billion. Rockwell Automation had a net margin of 10.42% and a return on equity of 32.69%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $2.47 EPS. On average, analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Matthew W. Fordenwalt sold 146 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $402.48, for a total value of $58,762.08. Following the sale, the senior vice president directly owned 4,437 shares of the company’s stock, valued at $1,785,803.76. This trade represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Matheus De A. G. Viera Bulho sold 476 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $402.02, for a total value of $191,361.52. Following the transaction, the senior vice president directly owned 2,401 shares of the company’s stock, valued at approximately $965,250.02. The trade was a 16.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 25,531 shares of company stock valued at $10,259,637. Corporate insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ROK shares. The Goldman Sachs Group upgraded Rockwell Automation from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $329.00 to $448.00 in a research report on Tuesday, December 16th. JPMorgan Chase & Co. raised their price target on shares of Rockwell Automation from $400.00 to $404.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Argus upgraded shares of Rockwell Automation to a “strong-buy” rating in a research note on Friday, January 16th. Stephens increased their target price on shares of Rockwell Automation from $425.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Finally, Zacks Research cut shares of Rockwell Automation from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $410.12.

About Rockwell Automation

Rockwell Automation is a global industrial automation and digital transformation company headquartered in Milwaukee, Wisconsin. The firm designs, manufactures and supports control systems, industrial control hardware and software, and related services that help manufacturers and industrial operators automate processes, improve productivity and enable data-driven decision making. Rockwell traces its heritage to the Allen-Bradley and Rockwell automation businesses and positions itself as a provider of integrated automation solutions across discrete and process industries.

The company’s product portfolio includes programmable logic controllers (PLCs), human-machine interfaces (HMIs), variable frequency drives, sensors, safety components and other industrial control hardware, often marketed under the Allen-Bradley brand.