North Star Asset Management Inc. bought a new position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,245 shares of the industrial products company’s stock, valued at approximately $1,467,000.
Several other large investors have also recently bought and sold shares of EMR. BlackRock Inc. bought a new stake in shares of Emerson Electric during the 2nd quarter worth approximately $6,193,425,000. State Street Corp grew its stake in shares of Emerson Electric by 2.0% in the fourth quarter. State Street Corp now owns 27,483,440 shares of the industrial products company’s stock valued at $3,647,602,000 after buying an additional 541,887 shares in the last quarter. Bank of America Corp DE increased its holdings in Emerson Electric by 13.1% during the first quarter. Bank of America Corp DE now owns 19,941,844 shares of the industrial products company’s stock worth $2,612,780,000 after buying an additional 2,302,055 shares during the last quarter. Geode Capital Management LLC raised its position in Emerson Electric by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 12,328,324 shares of the industrial products company’s stock worth $1,628,638,000 after acquiring an additional 76,488 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Emerson Electric by 1.3% in the fourth quarter. Wells Fargo & Company MN now owns 10,840,109 shares of the industrial products company’s stock valued at $1,438,699,000 after acquiring an additional 134,049 shares during the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.
Emerson Electric Stock Performance
Shares of EMR stock opened at $157.58 on Friday. Emerson Electric Co. has a 52 week low of $122.64 and a 52 week high of $166.35. The company has a market capitalization of $88.26 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.35 and a beta of 1.24. The company has a 50-day simple moving average of $148.70 and a 200 day simple moving average of $143.49. 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 Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.555 per share. The ex-dividend date is Friday, August 14th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.4%. Emerson Electric’s dividend payout ratio (DPR) is 48.58%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on EMR shares. HSBC upped their target price on shares of Emerson Electric from $170.00 to $180.00 in a report on Thursday, August 6th. Royal Bank Of Canada boosted their price target on Emerson Electric from $169.00 to $179.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Emerson Electric in a research note on Friday, July 31st. Citigroup raised their price objective on Emerson Electric from $174.00 to $182.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. raised Emerson Electric from a “neutral” rating to an “overweight” rating and set a $157.00 target price on the stock in a report on Friday, July 17th. Thirteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $167.39.
Read Our Latest Research Report on EMR
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 sale, the chief executive officer directly owned 271,743 shares of the company’s stock, valued at approximately $43,997,909.13. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.
Emerson Electric Company 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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