Principal Financial Group Inc. cut its stake in Emerson Electric Co. (NYSE:EMR – Free Report) by 12.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 668,482 shares of the industrial products company’s stock after selling 98,003 shares during the period. Principal Financial Group Inc. owned 0.12% of Emerson Electric worth $87,691,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Emerson Electric by 1.3% in the second quarter. Vanguard Group Inc. now owns 54,129,898 shares of the industrial products company’s stock valued at $7,217,139,000 after purchasing an additional 695,105 shares during the period. State Street Corp grew its holdings in 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 worth $3,606,979,000 after buying an additional 784,987 shares in the last quarter. JPMorgan Chase & Co. increased its position in Emerson Electric by 75.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,538,402 shares of the industrial products company’s stock valued at $1,671,762,000 after acquiring an additional 5,371,585 shares during the period. Geode Capital Management LLC raised its stake in Emerson Electric by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 12,143,357 shares of the industrial products company’s stock valued at $1,610,958,000 after acquiring an additional 89,192 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Emerson Electric by 19.5% during the 2nd quarter. Nordea Investment Management AB now owns 9,195,005 shares of the industrial products company’s stock worth $1,223,947,000 after acquiring an additional 1,499,000 shares during the period. Institutional investors own 74.30% of the company’s stock.
Emerson Electric Trading Up 1.2%
Emerson Electric stock opened at $148.79 on Tuesday. The firm has a market cap of $83.66 billion, a price-to-earnings ratio of 36.83, a price-to-earnings-growth ratio of 2.38 and a beta of 1.26. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $152.50. The firm’s 50 day moving average price is $139.89 and its two-hundred day moving average price is $135.92. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.65 and a current ratio of 0.88.
Emerson Electric announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 5th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
Emerson Electric Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were paid a dividend of $0.555 per share. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.22 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, November 14th. Emerson Electric’s payout ratio is currently 54.95%.
Insider Activity at Emerson Electric
In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $133.00, for a total value of $965,979.00. Following the completion of the transaction, the chief executive officer directly owned 196,292 shares in the company, valued at $26,106,836. This trade represents a 3.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.23% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on EMR. Barclays lifted their price objective on shares of Emerson Electric from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Morgan Stanley boosted their price target on shares of Emerson Electric from $115.00 to $125.00 and gave the stock an “underweight” rating in a research report on Friday, January 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Emerson Electric in a report on Wednesday, January 21st. Wells Fargo & Company boosted their target price on Emerson Electric from $140.00 to $145.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Finally, Evercore ISI began coverage on Emerson Electric in a research note on Monday, December 15th. They set an “outperform” rating and a $170.00 price target for the company. Ten analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Emerson Electric presently has an average rating of “Hold” and a consensus price target of $154.76.
Get Our Latest Stock Analysis on Emerson Electric
Emerson Electric 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.
Further Reading
- Five stocks we like better than Emerson Electric
- The day the gold market broke
- Forget AI, This Will Be the Next Big Tech Breakthrough
- ~$1.5T SpaceX IPO: Pre-IPO Opportunity
- Gold’s getting scarce.
- End of America Update
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.
