Coastal Bridge Advisors LLC acquired a new position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,010 shares of the industrial products company’s stock, valued at approximately $717,000.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Emerson Electric in the 2nd quarter worth approximately $6,193,425,000. State Street Corp increased its holdings in Emerson Electric by 2.0% during 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 during the period. Bank of America Corp DE raised its stake in Emerson Electric by 13.1% in 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 in the last quarter. Geode Capital Management LLC lifted its holdings 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 buying an additional 76,488 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Emerson Electric by 1.3% during the 4th 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 in the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.
Emerson Electric Stock Down 1.5%
Shares of EMR stock opened at $155.37 on Friday. The stock’s fifty day moving average price is $148.79 and its 200 day moving average price is $143.58. Emerson Electric Co. has a 1-year low of $122.64 and a 1-year high of $166.35. The company has a market cap of $87.02 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 2.35 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.66.
Emerson Electric Announces Dividend
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 paid a $0.555 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.22 dividend on an annualized basis and a yield of 1.4%. Emerson Electric’s dividend payout ratio (DPR) is 48.58%.
Insiders Place Their Bets
In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer owned 271,743 shares of the company’s stock, valued at approximately $43,997,909.13. The trade was a 3.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.23% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. KeyCorp reduced their price target on Emerson Electric from $185.00 to $170.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Wells Fargo & Company raised their price objective on Emerson Electric from $135.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. HSBC boosted their target price on shares of Emerson Electric from $170.00 to $180.00 in a report on Thursday, August 6th. Morgan Stanley raised their price target on shares of Emerson Electric from $125.00 to $135.00 and gave the company an “underweight” rating in a report on Friday. Finally, Citigroup boosted their price objective on shares of Emerson Electric from $174.00 to $182.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Thirteen investment 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.83.
Get Our Latest Report on Emerson Electric
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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