Oppenheimer Asset Management Inc. acquired a new stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) in the second quarter, HoldingsChannel reports. The institutional investor acquired 188,086 shares of the industrial products company’s stock, valued at approximately $26,925,000.
Several other large investors have also recently modified their holdings of the stock. Basso Capital Management L.P. purchased a new stake in shares of Emerson Electric during the fourth quarter valued at approximately $25,000. IFC & Insurance Marketing Inc. purchased a new stake in Emerson Electric during the 4th quarter valued at $27,000. Motiv8 Investments LLC purchased a new position in shares of Emerson Electric in the fourth quarter worth $27,000. Allied Private Wealth LLC bought a new position in shares of Emerson Electric during the second quarter valued at $27,000. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Emerson Electric during the second quarter valued at $29,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.
Emerson Electric Price Performance
NYSE EMR opened at $163.07 on Friday. The business’s fifty day moving average is $146.32 and its 200 day moving average is $143.14. Emerson Electric Co. has a fifty-two week low of $122.64 and a fifty-two week high of $166.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.66 and a current ratio of 0.90. The company has a market capitalization of $91.33 billion, a PE ratio of 35.68, a price-to-earnings-growth ratio of 2.43 and a beta of 1.24.
Emerson Electric Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be given a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 14th. Emerson Electric’s dividend payout ratio is presently 48.58%.
Insider Activity at Emerson Electric
In related news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of Emerson Electric 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. The trade was a 3.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Emerson Electric from $169.00 to $179.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. DA Davidson assumed coverage on shares of Emerson Electric in a research report on Tuesday, June 16th. They set a “neutral” rating and a $145.00 price objective on the stock. BMO Capital Markets boosted their target price on shares of Emerson Electric from $157.00 to $175.00 in a research note on Thursday, August 6th. Wall Street Zen raised Emerson Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Wells Fargo & Company increased their target price on Emerson Electric from $135.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Thirteen investment 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.com, Emerson Electric has a consensus rating of “Moderate Buy” and an average price target of $166.96.
Check Out Our Latest 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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