Oak Thistle LLC Makes New Investment in Emerson Electric Co. $EMR

Oak Thistle LLC purchased a new stake in Emerson Electric Co. (NYSE:EMR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,608 shares of the industrial products company’s stock, valued at approximately $1,392,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in EMR. Vanguard Group Inc. boosted its stake in Emerson Electric by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 54,129,898 shares of the industrial products company’s stock worth $7,217,139,000 after purchasing an additional 695,105 shares during the period. State Street Corp raised its stake in shares of Emerson Electric by 3.0% in the 2nd quarter. State Street Corp now owns 27,053,019 shares of the industrial products company’s stock valued at $3,606,979,000 after purchasing an additional 784,987 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Emerson Electric by 75.0% in the second quarter. JPMorgan Chase & Co. now owns 12,538,402 shares of the industrial products company’s stock valued at $1,671,762,000 after purchasing an additional 5,371,585 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Emerson Electric by 0.7% during the second quarter. Geode Capital Management LLC now owns 12,143,357 shares of the industrial products company’s stock worth $1,610,958,000 after buying an additional 89,192 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Emerson Electric by 19.5% during the second quarter. Nordea Investment Management AB now owns 9,195,005 shares of the industrial products company’s stock worth $1,223,947,000 after buying an additional 1,499,000 shares in the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $133.00, for a total value of $965,979.00. Following the completion of the sale, the chief executive officer directly owned 196,292 shares of the company’s stock, valued at $26,106,836. This trade represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

EMR has been the topic of several research reports. JPMorgan Chase & Co. cut their target price on Emerson Electric from $151.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th. Royal Bank Of Canada reduced their target price on shares of Emerson Electric from $155.00 to $153.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Evercore ISI started coverage on shares of Emerson Electric in a research report on Monday. They issued an “outperform” rating and a $170.00 target price for the company. Jefferies Financial Group reissued a “hold” rating and set a $145.00 price target on shares of Emerson Electric in a research report on Wednesday, December 10th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Emerson Electric in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.06.

Emerson Electric Price Performance

Shares of EMR opened at $131.67 on Thursday. The company has a market cap of $74.04 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 2.19 and a beta of 1.26. The company has a current ratio of 0.88, a quick ratio of 0.65 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $132.29 and its 200 day simple moving average is $133.39. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $150.27.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Thursday, April 6th. The industrial products company reported $0.79 EPS for the quarter. The company had revenue of $3.16 billion during the quarter. Emerson Electric had a net margin of 12.73% and a return on equity of 15.87%. On average, research analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric announced that its board has authorized a share repurchase plan on Wednesday, November 5th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Emerson Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were paid a $0.555 dividend. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.22 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, November 14th. Emerson Electric’s dividend payout ratio is currently 54.95%.

Emerson Electric Profile

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.