PNC Financial Services Group Inc. reduced its position in Emerson Electric Co. (NYSE:EMR – Free Report) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,714,433 shares of the industrial products company’s stock after selling 18,154 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Emerson Electric were worth $227,540,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Ares Financial Consulting LLC acquired a new position in Emerson Electric in the 4th quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new position in shares of Emerson Electric during the second quarter worth about $29,000. Steph & Co. acquired a new position in shares of Emerson Electric during the fourth quarter worth about $33,000. Wealth Watch Advisors INC acquired a new position in shares of Emerson Electric during the third quarter worth about $33,000. Finally, Strategic Wealth Advisors LLC acquired a new position in shares of Emerson Electric during the fourth quarter worth about $41,000. 74.30% of the stock is owned by institutional investors and hedge funds.
Emerson Electric Stock Performance
Shares of EMR opened at $130.59 on Wednesday. The stock has a 50 day moving average price of $136.75 and a 200 day moving average price of $139.44. The company has a quick ratio of 0.64, a current ratio of 0.87 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $73.14 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 2.11 and a beta of 1.26. Emerson Electric Co. has a 52-week low of $114.83 and a 52-week high of $165.15.
Emerson Electric Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be issued a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, May 15th. Emerson Electric’s dividend payout ratio is 51.27%.
Insider Transactions at Emerson Electric
In related news, CEO Surendralal Lanca Karsanbhai sold 5,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $142.32, for a total value of $811,224.00. Following the completion of the transaction, the chief executive officer directly owned 281,393 shares of the company’s stock, valued at $40,047,851.76. This represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts have recently commented on EMR shares. Wolfe Research lowered their price objective on Emerson Electric from $176.00 to $169.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. Jefferies Financial Group started coverage on Emerson Electric in a research report on Tuesday, March 31st. They set a “buy” rating and a $175.00 price objective for the company. Oppenheimer reissued a “market perform” rating on shares of Emerson Electric in a research report on Tuesday, January 27th. Royal Bank Of Canada boosted their price objective on Emerson Electric from $161.00 to $169.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Finally, Citigroup boosted their price objective on Emerson Electric from $165.00 to $174.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Twelve analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $163.24.
Check Out Our Latest Report on Emerson Electric
About Emerson Electric
Emerson Electric Co is a global technology and engineering company that designs and manufactures products and provides services for industrial, commercial and consumer markets. Founded in 1890, the company is headquartered in St. Louis, Missouri, and has built a long-standing presence in automation, control and climate-related technologies. Emerson’s offerings are aimed at improving productivity, energy efficiency and reliability for a wide range of end markets.
Emerson operates through two principal platforms—Automation Solutions and Commercial & Residential Solutions—providing process automation systems, measurement and analytical instrumentation, valves and actuators, control software, and related aftermarket services, alongside products for heating, ventilation and refrigeration, residential and commercial climate controls, tools and storage solutions.
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