Diversify Advisory Services LLC purchased a new position in Emerson Electric Co. (NYSE:EMR – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,913 shares of the industrial products company’s stock, valued at approximately $7,601,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Basso Capital Management L.P. bought a new position in shares of Emerson Electric in the 4th quarter worth $25,000. Allied Private Wealth LLC bought a new stake in shares of Emerson Electric during the second quarter worth about $27,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of Emerson Electric in the 4th quarter worth about $27,000. Motiv8 Investments LLC bought a new position in Emerson Electric in the 4th quarter valued at about $27,000. Finally, MidFirst Bank acquired a new position in Emerson Electric during the 2nd quarter valued at about $31,000. Institutional investors own 74.30% of the company’s stock.
Emerson Electric Stock Performance
Shares of EMR stock opened at $157.82 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.66 and a current ratio of 0.90. The firm has a market cap of $88.39 billion, a price-to-earnings ratio of 34.53, a P/E/G ratio of 2.43 and a beta of 1.24. Emerson Electric Co. has a 52 week low of $122.64 and a 52 week high of $166.35. The firm’s 50-day simple moving average is $147.09 and its two-hundred day simple moving average is $143.26.
Emerson Electric Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be given 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 currently 48.58%.
Analyst Ratings Changes
Several brokerages recently issued reports 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 report on Wednesday, May 6th. Sanford C. Bernstein lifted their price objective on shares of Emerson Electric from $169.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Emerson Electric in a research note on Friday, July 31st. HSBC raised their price target on shares of Emerson Electric from $170.00 to $180.00 in a research report on Thursday, August 6th. Finally, DA Davidson started coverage on shares of Emerson Electric in a research report on Tuesday, June 16th. They issued a “neutral” rating and a $145.00 price objective for the company. Thirteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $166.96.
Read Our Latest Stock Analysis on Emerson Electric
Insider Buying and Selling at Emerson Electric
In other news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $161.91, for a total transaction of $1,562,431.50. Following the completion of the transaction, the chief executive officer owned 271,743 shares in the company, valued at approximately $43,997,909.13. This represents a 3.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.
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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