Cibc World Market Inc. lowered its stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 44.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 127,150 shares of the industrial products company’s stock after selling 100,326 shares during the quarter. Cibc World Market Inc.’s holdings in Emerson Electric were worth $16,875,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in EMR. Darwin Wealth Management LLC bought a new stake in Emerson Electric during the second quarter valued at about $29,000. Ares Financial Consulting LLC bought a new stake in Emerson Electric during the fourth quarter valued at about $29,000. Wealth Watch Advisors INC bought a new stake in Emerson Electric during the third quarter valued at about $33,000. Steph & Co. bought a new stake in Emerson Electric during the fourth quarter valued at about $33,000. Finally, Strategic Wealth Advisors LLC bought a new stake in Emerson Electric during the fourth quarter valued at about $41,000. Institutional investors own 74.30% of the company’s stock.
Emerson Electric Trading Down 2.6%
Shares of NYSE:EMR opened at $138.36 on Friday. Emerson Electric Co. has a 52-week low of $122.11 and a 52-week high of $165.15. The stock has a market cap of $77.50 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 2.27 and a beta of 1.25. The company has a quick ratio of 0.64, a current ratio of 0.87 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $138.42 and a 200-day moving average price of $139.98.
Emerson Electric Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, May 15th. Emerson Electric’s dividend payout ratio (DPR) is currently 51.27%.
Analysts Set New Price Targets
EMR has been the subject of several recent analyst reports. Wells Fargo & Company raised their price target on Emerson Electric from $135.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Jefferies Financial Group initiated coverage on Emerson Electric in a report on Tuesday, March 31st. They issued a “buy” rating and a $175.00 price target for the company. Loop Capital raised their price target on Emerson Electric from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Emerson Electric in a report on Monday, May 4th. Finally, Wolfe Research lowered their price target on Emerson Electric from $176.00 to $169.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Twelve equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Emerson Electric has a consensus rating of “Hold” and an average price target of $163.24.
Get Our Latest Stock Report on EMR
Insiders Place Their Bets
In related news, CEO Surendralal Lanca Karsanbhai sold 5,700 shares of Emerson Electric stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $142.32, for a total transaction of $811,224.00. Following the completion of the transaction, the chief executive officer directly owned 281,393 shares in the company, valued at approximately $40,047,851.76. This trade represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.23% of the company’s stock.
About Emerson Electric
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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