Rakuten Investment Management Inc. acquired a new position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) during the 2nd quarter, Holdings Channel reports. The fund acquired 91,720 shares of the industrial products company’s stock, valued at approximately $13,099,000.
A number of other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in Emerson Electric by 74.1% in the fourth quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company’s stock worth $1,412,000 after purchasing an additional 4,850 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Emerson Electric in the 1st quarter valued at $232,000. Caxton Associates LLP acquired a new stake in Emerson Electric during the 1st quarter worth $275,000. Sivia Capital Partners LLC bought a new position in Emerson Electric during the second quarter worth about $203,000. Finally, Jump Financial LLC grew its stake in Emerson Electric by 121.5% in the second quarter. Jump Financial LLC now owns 10,543 shares of the industrial products company’s stock valued at $1,406,000 after acquiring an additional 5,783 shares during the period. Institutional investors and hedge funds own 74.30% of the company’s stock.
Emerson Electric Price Performance
Shares of EMR opened at $155.37 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. Emerson Electric Co. has a twelve month low of $122.64 and a twelve month high of $166.35. The stock has a market capitalization of $87.02 billion, a P/E ratio of 34.00, a P/E/G ratio of 2.35 and a beta of 1.24. The company has a 50 day moving average of $148.79 and a 200-day moving average of $143.58.
Emerson Electric Dividend Announcement
The firm also recently disclosed 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. 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 currently 48.58%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on EMR shares. Sanford C. Bernstein raised their price target on Emerson Electric from $169.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Morgan Stanley boosted their price objective on Emerson Electric from $125.00 to $135.00 and gave the company an “underweight” rating in a research report on Friday. BNP Paribas Exane raised their target price on shares of Emerson Electric from $180.00 to $185.00 in a report on Thursday, August 6th. Citigroup lifted their price target on shares of Emerson Electric from $174.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Stephens upped their price target on shares of Emerson Electric from $155.00 to $160.00 in a report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.83.
Check Out Our Latest Stock Analysis on EMR
Insider Activity at Emerson Electric
In other news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of the firm’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 transaction, the chief executive officer owned 271,743 shares in the company, valued at $43,997,909.13. This trade represents a 3.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is currently owned by corporate insiders.
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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