Lynch Asset Management Inc. bought a new stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 27,500 shares of the industrial products company’s stock, valued at approximately $3,937,000. Emerson Electric accounts for 1.1% of Lynch Asset Management Inc.’s investment portfolio, making the stock its 26th biggest position.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC raised its position in Emerson Electric by 74.1% during the fourth quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company’s stock valued at $1,412,000 after buying an additional 4,850 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Emerson Electric during the 1st quarter worth about $232,000. Caxton Associates LLP acquired a new stake in Emerson Electric during the 1st quarter worth about $275,000. Sivia Capital Partners LLC purchased a new position in Emerson Electric during the 2nd quarter valued at about $203,000. Finally, Jump Financial LLC increased its holdings in shares of Emerson Electric by 121.5% in the 2nd quarter. Jump Financial LLC now owns 10,543 shares of the industrial products company’s stock valued at $1,406,000 after purchasing an additional 5,783 shares during the period. Institutional investors and hedge funds own 74.30% of the company’s stock.
Emerson Electric Trading Down 0.1%
NYSE:EMR opened at $163.07 on Monday. The company has a market capitalization of $91.33 billion, a P/E ratio of 35.68, a P/E/G ratio of 2.43 and a beta of 1.24. The stock’s 50 day moving average price is $146.32 and its 200 day moving average price is $143.09. 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 52 week low of $122.64 and a 52 week high of $166.35.
Emerson Electric Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, August 14th. Emerson Electric’s dividend payout ratio (DPR) is 48.58%.
Insider Buying and Selling at Emerson Electric
In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $161.91, for a total value of $1,562,431.50. Following the completion of the sale, the chief executive officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
EMR has been the subject of several research reports. Rothschild & Co Redburn raised their price target on shares of Emerson Electric from $165.00 to $180.00 in a report on Thursday, August 6th. DA Davidson began coverage on shares of Emerson Electric in a research note on Tuesday, June 16th. They issued a “neutral” rating and a $145.00 price objective on the stock. JPMorgan Chase & Co. raised shares of Emerson Electric from a “neutral” rating to an “overweight” rating and set a $157.00 target price for the company in a research note on Friday, July 17th. Citigroup boosted their price target on shares of Emerson Electric from $174.00 to $182.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Barclays upped their price target on shares of Emerson Electric from $140.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Thirteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.96.
Check Out 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.
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