The Manufacturers Life Insurance Company cut its stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 1.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 739,544 shares of the industrial products company’s stock after selling 10,709 shares during the period. The Manufacturers Life Insurance Company’s holdings in Emerson Electric were worth $96,888,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of EMR. Brighton Jones LLC increased its stake in Emerson Electric by 74.1% during the 4th quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company’s stock worth $1,412,000 after buying an additional 4,850 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Emerson Electric in the 1st quarter valued at about $232,000. Caxton Associates LLP acquired a new stake in shares of Emerson Electric during the first quarter valued at about $275,000. Sivia Capital Partners LLC purchased a new stake in shares of Emerson Electric during the second quarter worth about $203,000. Finally, Jump Financial LLC lifted its stake in shares of Emerson Electric by 121.5% in the second quarter. Jump Financial LLC now owns 10,543 shares of the industrial products company’s stock worth $1,406,000 after acquiring an additional 5,783 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.
Emerson Electric Stock Up 1.6%
Shares of Emerson Electric stock opened at $151.63 on Wednesday. The business has a 50-day moving average price of $141.57 and a 200 day moving average price of $142.15. Emerson Electric Co. has a fifty-two week low of $122.64 and a fifty-two week high of $165.15. The firm has a market cap of $84.93 billion, a P/E ratio of 35.02, a P/E/G ratio of 2.39 and a beta of 1.25. The company has a quick ratio of 0.64, a current ratio of 0.87 and a debt-to-equity ratio of 0.37.
Emerson Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a dividend of $0.555 per share. The ex-dividend date was Friday, May 15th. This represents a $2.22 annualized dividend and a yield of 1.5%. Emerson Electric’s dividend payout ratio (DPR) is 51.27%.
Analysts Set New Price Targets
EMR has been the subject of a number of recent analyst reports. Barclays raised their price objective on Emerson Electric from $140.00 to $144.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Emerson Electric in a research report on Monday, May 4th. Wolfe Research decreased their price target on shares of Emerson Electric from $176.00 to $169.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. DA Davidson started coverage on shares of Emerson Electric in a research note on Tuesday, June 16th. They issued a “neutral” rating and a $145.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on shares of Emerson Electric in a report on Tuesday, March 31st. They issued a “buy” rating and a $175.00 price target on the stock. Thirteen research 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. Based on data from MarketBeat, Emerson Electric has a consensus rating of “Moderate Buy” and a consensus price target of $162.36.
Read Our Latest Research Report 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.
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