Wellington Management Group LLP trimmed its holdings in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 12.0% during the second quarter, Holdings Channel.com reports. The firm owned 8,464,091 shares of the industrial products company’s stock after selling 1,153,964 shares during the quarter. Wellington Management Group LLP’s holdings in Emerson Electric were worth $1,211,635,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in Emerson Electric by 9.4% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 101,731 shares of the industrial products company’s stock valued at $14,563,000 after acquiring an additional 8,700 shares during the period. BlackRock Inc. bought a new stake in shares of Emerson Electric in the second quarter worth approximately $6,193,425,000. Fisher Asset Management LLC raised its holdings in shares of Emerson Electric by 14.8% during the fourth 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 lifted its position in Emerson Electric by 4.6% during the fourth quarter. Truist Financial Corp now owns 1,185,160 shares of the industrial products company’s stock valued at $157,294,000 after purchasing an additional 52,440 shares during the period. Finally, Legal & General Group Plc grew its position in Emerson Electric by 2.1% in 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 period. 74.30% of the stock is currently owned by institutional investors.
Emerson Electric Trading Down 1.5%
Shares of EMR stock opened at $155.37 on Friday. 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 cap of $87.02 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 2.35 and a beta of 1.24. Emerson Electric Co. has a 1 year low of $122.64 and a 1 year high of $166.35. The firm has a fifty day moving average price of $148.79 and a 200-day moving average price of $143.58.
Emerson Electric Dividend Announcement
The business 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 $0.555 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.22 annualized dividend and a dividend yield of 1.4%. Emerson Electric’s dividend payout ratio (DPR) is 48.58%.
Insider Buying and Selling at Emerson Electric
In related news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of the business’s 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. The trade was a 3.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on EMR. Morgan Stanley boosted their target price on shares of Emerson Electric from $125.00 to $135.00 and gave the company an “underweight” rating in a research note on Friday. Sanford C. Bernstein lifted their price objective on Emerson Electric from $169.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. BMO Capital Markets upped their price objective on Emerson Electric from $157.00 to $175.00 in a research report on Thursday, August 6th. Wells Fargo & Company increased their target price on Emerson Electric from $135.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Finally, Royal Bank Of Canada raised their target price on Emerson Electric from $169.00 to $179.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Thirteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.83.
View Our Latest Stock Analysis on EMR
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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