Principle Wealth Partners LLC bought a new position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 38,925 shares of the industrial products company’s stock, valued at approximately $5,572,000.
A number of other institutional investors have also recently made changes to their positions in EMR. Rooted Wealth Advisors Inc. increased its stake in shares of Emerson Electric by 3.0% in the fourth quarter. Rooted Wealth Advisors Inc. now owns 2,195 shares of the industrial products company’s stock valued at $291,000 after buying an additional 64 shares during the period. Institute for Wealth Management LLC. boosted its holdings in Emerson Electric by 1.6% in the fourth quarter. Institute for Wealth Management LLC. now owns 4,546 shares of the industrial products company’s stock valued at $603,000 after acquiring an additional 71 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in shares of Emerson Electric by 2.4% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 3,098 shares of the industrial products company’s stock worth $411,000 after purchasing an additional 72 shares during the period. Zhang Financial LLC lifted its holdings in Emerson Electric by 2.7% in the fourth quarter. Zhang Financial LLC now owns 2,892 shares of the industrial products company’s stock valued at $384,000 after buying an additional 76 shares during the period. Finally, Klingman & Associates LLC raised its position in shares of Emerson Electric by 1.4% in the 4th quarter. Klingman & Associates LLC now owns 5,680 shares of the industrial products company’s stock worth $754,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.
Emerson Electric Stock Down 0.7%
EMR stock opened at $162.06 on Tuesday. The stock’s 50 day simple moving average is $146.78 and its 200 day simple moving average is $143.19. The company has a market cap of $90.77 billion, a P/E ratio of 35.46, a price-to-earnings-growth ratio of 2.43 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.66 and a current ratio of 0.90. Emerson Electric Co. has a fifty-two week low of $122.64 and a fifty-two week high of $166.35.
Emerson Electric Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, August 14th. Emerson Electric’s payout ratio is 48.58%.
Insiders Place Their Bets
In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $161.91, for a total transaction of $1,562,431.50. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages recently commented on EMR. Weiss Ratings restated a “hold (c+)” rating on shares of Emerson Electric in a research report on Friday, July 31st. HSBC boosted their price target on Emerson Electric from $170.00 to $180.00 in a research note on Thursday, August 6th. Sanford C. Bernstein increased their price target on Emerson Electric from $169.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday. Barclays lifted their price objective on shares of Emerson Electric from $140.00 to $144.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upgraded shares of Emerson Electric from a “neutral” rating to an “overweight” rating and set a $157.00 target price on the stock in a research report on Friday, July 17th. Thirteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.96.
Get 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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