Emerson Electric (EMR) Hits New 1-Year Low at $62.04
Emerson Electric Co. (NYSE:EMR) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $62.04 and last traded at $63.07, with a volume of 391542 shares trading hands. The stock had previously closed at $65.65.
A number of equities research analysts have recently issued reports on EMR shares. Barclays boosted their price target on shares of Emerson Electric from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 24th. Gordon Haskett started coverage on shares of Emerson Electric in a report on Friday, October 12th. They set a “buy” rating on the stock. Bank of America boosted their price target on shares of Emerson Electric from $82.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, October 4th. Zacks Investment Research lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, October 5th. Finally, Morgan Stanley started coverage on shares of Emerson Electric in a report on Monday, August 20th. They set an “overweight” rating and a $85.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $78.39.
The stock has a market cap of $39.94 billion, a P/E ratio of 18.62, a P/E/G ratio of 1.96 and a beta of 1.21. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.35.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be given a dividend of $0.49 per share. The ex-dividend date is Thursday, November 15th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.49. This represents a $1.96 dividend on an annualized basis and a yield of 3.11%. Emerson Electric’s payout ratio is presently 57.99%.
In other Emerson Electric news, insider Surendralal Lanca Karsanbhai sold 9,070 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $68.00, for a total value of $616,760.00. Following the completion of the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $1,360,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Edward L. Monser sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $76.10, for a total transaction of $4,566,000.00. Following the completion of the sale, the president now directly owns 176,477 shares of the company’s stock, valued at $13,429,899.70. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.
A number of hedge funds have recently bought and sold shares of EMR. Dupont Capital Management Corp grew its position in Emerson Electric by 46.6% in the second quarter. Dupont Capital Management Corp now owns 7,616 shares of the industrial products company’s stock worth $527,000 after acquiring an additional 2,420 shares in the last quarter. Alps Advisors Inc. grew its position in Emerson Electric by 8.2% in the second quarter. Alps Advisors Inc. now owns 727,563 shares of the industrial products company’s stock worth $50,704,000 after acquiring an additional 55,322 shares in the last quarter. Fiera Capital Corp grew its position in Emerson Electric by 27.8% in the second quarter. Fiera Capital Corp now owns 6,966 shares of the industrial products company’s stock worth $481,000 after acquiring an additional 1,516 shares in the last quarter. Barings LLC boosted its holdings in shares of Emerson Electric by 30.9% during the 2nd quarter. Barings LLC now owns 24,110 shares of the industrial products company’s stock worth $1,667,000 after buying an additional 5,688 shares during the period. Finally, LMR Partners LLP boosted its holdings in shares of Emerson Electric by 22.8% during the 2nd quarter. LMR Partners LLP now owns 3,990 shares of the industrial products company’s stock worth $276,000 after buying an additional 742 shares during the period. 70.55% of the stock is owned by institutional investors.
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About Emerson Electric (NYSE:EMR)
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.
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