Nissay Asset Management Corp Japan grew its position in Emerson Electric Co. (NYSE:EMR – Free Report) by 23.8% during the 2nd quarter, Holdings Channel reports. The fund owned 125,769 shares of the industrial products company’s stock after buying an additional 24,144 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Emerson Electric were worth $18,004,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in EMR. ABS Investment Management LLC acquired a new stake in Emerson Electric in the second quarter valued at about $858,900,000. Basso Capital Management L.P. acquired a new position in Emerson Electric during the 4th quarter worth approximately $25,000. Allied Private Wealth LLC acquired a new stake in shares of Emerson Electric in the 2nd quarter valued at approximately $27,000. Orion Capital Management LLC purchased a new stake in shares of Emerson Electric in the second quarter valued at approximately $29,000. Finally, IFC & Insurance Marketing Inc. purchased a new position in Emerson Electric in the fourth quarter worth $27,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.
Emerson Electric Price Performance
Emerson Electric stock opened at $155.37 on Friday. The stock has a market capitalization of $87.02 billion, a P/E ratio of 34.00, a P/E/G ratio of 2.31 and a beta of 1.24. Emerson Electric Co. has a 12-month low of $122.64 and a 12-month high of $166.35. 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 firm’s 50-day moving average is $148.79 and its two-hundred day moving average is $143.58.
Emerson Electric Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders 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 of this dividend is Friday, August 14th. Emerson Electric’s dividend payout ratio is currently 48.58%.
Insider Buying and Selling at Emerson Electric
In other news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of the firm’s stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
EMR has been the topic of a number of recent analyst reports. Sanford C. Bernstein upped their price target on shares of Emerson Electric from $169.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Wells Fargo & Company boosted their price objective on shares of Emerson Electric from $135.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. BMO Capital Markets upped their target price on shares of Emerson Electric from $157.00 to $175.00 in a research report on Thursday, August 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Emerson Electric in a research report on Friday, July 31st. Finally, Citigroup boosted their price target on 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 given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company 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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