Norges Bank bought a new stake in Emerson Electric Co. (NYSE:EMR – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,911,694 shares of the industrial products company’s stock, valued at approximately $1,050,040,000. Norges Bank owned approximately 1.41% of Emerson Electric at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the stock. Hilltop Partners LLC increased its position in Emerson Electric by 16.7% during the 4th quarter. Hilltop Partners LLC now owns 9,444 shares of the industrial products company’s stock worth $1,253,000 after purchasing an additional 1,351 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Emerson Electric during the 4th quarter worth approximately $50,224,000. Zhang Financial LLC increased its position in Emerson Electric by 2.7% during the 4th quarter. Zhang Financial LLC now owns 2,892 shares of the industrial products company’s stock worth $384,000 after purchasing an additional 76 shares in the last quarter. Fideuram Asset Management Ireland dac acquired a new position in Emerson Electric during the 4th quarter worth approximately $837,000. Finally, Basepoint Wealth LLC acquired a new position in Emerson Electric during the 4th quarter worth approximately $84,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.
Emerson Electric Trading Up 1.5%
EMR opened at $143.91 on Friday. Emerson Electric Co. has a fifty-two week low of $117.16 and a fifty-two week high of $165.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.87 and a quick ratio of 0.64. The firm has a market capitalization of $80.60 billion, a price-to-earnings ratio of 33.23, a PEG ratio of 2.30 and a beta of 1.26. The company’s 50 day moving average price is $137.27 and its two-hundred day moving average price is $139.58.
Emerson Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be paid a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, May 15th. Emerson Electric’s dividend payout ratio is currently 51.27%.
Insider Activity at Emerson Electric
In other news, CEO Surendralal Lanca Karsanbhai sold 5,700 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $142.32, for a total value of $811,224.00. Following the sale, the chief executive officer directly owned 281,393 shares of the company’s stock, valued at approximately $40,047,851.76. This represents a 1.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Emerson Electric from $135.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Wolfe Research lowered their price objective on shares of Emerson Electric from $176.00 to $169.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. Royal Bank Of Canada boosted their target price on shares of Emerson Electric from $161.00 to $169.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Loop Capital boosted their target price on shares of Emerson Electric from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, HSBC boosted their target price on shares of Emerson Electric from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Twelve equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $163.24.
View Our Latest Stock 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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