Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor bought 11,925 shares of the industrial products company’s stock, valued at approximately $1,707,000.
Other large investors have also made changes to their positions in the company. PensionDanmark Pensionsforsikringsaktieselskab grew its stake in shares of Emerson Electric by 9.4% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 101,731 shares of the industrial products company’s stock worth $14,563,000 after acquiring an additional 8,700 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Emerson Electric by 14.8% in the 4th quarter. Fisher Asset Management LLC now owns 7,191,118 shares of the industrial products company’s stock valued at $954,405,000 after purchasing an additional 928,548 shares during the last quarter. Truist Financial Corp boosted its stake in Emerson Electric by 4.6% in the 4th quarter. Truist Financial Corp now owns 1,185,160 shares of the industrial products company’s stock worth $157,294,000 after purchasing an additional 52,440 shares in the last quarter. Legal & General Group Plc grew its position in Emerson Electric by 2.1% during the 4th quarter. Legal & General Group Plc now owns 4,114,470 shares of the industrial products company’s stock worth $546,072,000 after purchasing an additional 84,064 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Emerson Electric by 0.6% during 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. 74.30% of the stock is owned by institutional investors and hedge funds.
Emerson Electric Trading Down 0.7%
NYSE EMR opened at $162.06 on Tuesday. Emerson Electric Co. has a 1 year low of $122.64 and a 1 year high of $166.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.66. The company has a market capitalization of $90.77 billion, a PE ratio of 35.46, a P/E/G ratio of 2.43 and a beta of 1.24. The company has a fifty day moving average of $146.78 and a 200 day moving average of $143.19.
Emerson Electric Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors 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 of this dividend is Friday, August 14th. Emerson Electric’s dividend payout ratio (DPR) is 48.58%.
Wall Street Analysts Forecast Growth
EMR has been the subject of several research reports. HSBC lifted their price objective on shares of Emerson Electric from $170.00 to $180.00 in a research note on Thursday, August 6th. BMO Capital Markets raised their target price on Emerson Electric from $157.00 to $175.00 in a research note on Thursday, August 6th. Barclays lifted their price target on Emerson Electric from $140.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. raised Emerson Electric from a “neutral” rating to an “overweight” rating and set a $157.00 price objective on the stock in a report on Friday, July 17th. Finally, Daiwa Securities Group reduced their price objective on Emerson Electric from $177.00 to $156.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. Thirteen equities 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.com, Emerson Electric has a consensus rating of “Moderate Buy” and an average price target of $166.96.
Get Our Latest Report on Emerson Electric
Insiders Place Their Bets
In related news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of Emerson Electric stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $161.91, for a total transaction of $1,562,431.50. Following the completion of the transaction, the chief executive officer directly owned 271,743 shares in the company, valued at approximately $43,997,909.13. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.23% of the company’s stock.
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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