Notis McConarty Edward bought a new stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,337 shares of the industrial products company’s stock, valued at approximately $1,050,000.
Several other institutional investors also recently modified their holdings of the business. Somerville Kurt F purchased a new position in Emerson Electric during the 2nd quarter valued at about $374,000. MSH Capital Advisors LLC bought a new stake in Emerson Electric during the second quarter worth about $1,194,000. Puzo Michael J purchased a new stake in Emerson Electric in the second quarter worth about $1,000,000. NWK Group Inc. bought a new position in shares of Emerson Electric during the second quarter valued at approximately $236,000. Finally, Northcape Wealth Management LLC purchased a new position in shares of Emerson Electric during the second quarter valued at approximately $5,256,000. 74.30% of the stock is currently owned by institutional investors.
Emerson Electric Price Performance
Shares of EMR opened at $157.60 on Thursday. The company has a market capitalization of $88.27 billion, a P/E ratio of 34.49, a price-to-earnings-growth ratio of 2.35 and a beta of 1.24. The company has a quick ratio of 0.66, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $147.50 and a 200 day moving average of $143.31. Emerson Electric Co. has a twelve month low of $122.64 and a twelve month high of $166.35.
Emerson Electric Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 14th. Emerson Electric’s dividend payout ratio is presently 48.58%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on EMR. Barclays upped their price target on Emerson Electric from $140.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Wall Street Zen raised Emerson Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Sanford C. Bernstein increased their target price on Emerson Electric from $169.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. BNP Paribas Exane raised their price target on Emerson Electric from $180.00 to $185.00 in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised Emerson Electric from a “neutral” rating to an “overweight” rating and set a $157.00 price target for the company in a research report on Friday, July 17th. Thirteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $166.96.
Insider Activity at Emerson Electric
In related news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of Emerson Electric stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $161.91, for a total value of $1,562,431.50. Following the completion of the sale, the chief executive officer directly owned 271,743 shares in the company, valued at approximately $43,997,909.13. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by company insiders.
Emerson Electric Company Profile
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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