NBH Bank purchased a new position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,365 shares of the industrial products company’s stock, valued at approximately $1,197,000.
Other large investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Emerson Electric in the 2nd quarter valued at $6,193,425,000. State Street Corp raised its stake in Emerson Electric by 2.0% during the fourth quarter. State Street Corp now owns 27,483,440 shares of the industrial products company’s stock worth $3,647,602,000 after acquiring an additional 541,887 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Emerson Electric by 13.1% during the first quarter. Bank of America Corp DE now owns 19,941,844 shares of the industrial products company’s stock valued at $2,612,780,000 after acquiring an additional 2,302,055 shares during the period. Geode Capital Management LLC boosted its stake in shares of Emerson Electric by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 12,328,324 shares of the industrial products company’s stock valued at $1,628,638,000 after purchasing an additional 76,488 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Emerson Electric by 1.3% in the 4th quarter. Wells Fargo & Company MN now owns 10,840,109 shares of the industrial products company’s stock worth $1,438,699,000 after purchasing an additional 134,049 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors.
Emerson Electric Trading Up 1.8%
EMR stock opened at $152.88 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. Emerson Electric Co. has a twelve month low of $122.64 and a twelve month high of $166.35. The company has a market cap of $85.63 billion, a P/E ratio of 33.45, a PEG ratio of 2.25 and a beta of 1.24. The business has a fifty day moving average of $149.35 and a 200-day moving average of $143.45.
Emerson Electric Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a $0.555 dividend. This represents a $2.22 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. Emerson Electric’s dividend payout ratio (DPR) is 48.58%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the stock. KeyCorp dropped their target price on shares of Emerson Electric from $185.00 to $170.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. HSBC upped their price objective on shares of Emerson Electric from $170.00 to $180.00 in a research note on Thursday, August 6th. Sanford C. Bernstein raised 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. DA Davidson boosted their target price on Emerson Electric from $145.00 to $155.00 and gave the stock a “neutral” rating in a report on Monday, August 24th. Finally, Stephens increased their price target on Emerson Electric from $155.00 to $160.00 in a research report on Thursday, August 6th. Thirteen 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.83.
Insider Activity at Emerson Electric
In related news, CEO Surendralal Karsanbhai sold 9,650 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 271,743 shares of the company’s stock, valued at $43,997,909.13. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.23% of the stock is currently owned by corporate insiders.
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.
Read More
- Five stocks we like better than Emerson Electric
- Revolution Medicines Got Its Breakthrough—What Moves It Next?
- Retail Earnings Just Exposed a Bigger Divide in the U.S. Consumer Economy
- FB Financial’s Southern Expansion and Buybacks Drive Analyst Optimism
- AST SpaceMobile Stock Soared 12%—This Was the Catalyst
Want to see what other hedge funds are holding EMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Emerson Electric Co. (NYSE:EMR – Free Report).
Receive News & Ratings for Emerson Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric and related companies with MarketBeat.com's FREE daily email newsletter.
