First National Bank of Omaha bought a new position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,322 shares of the industrial products company’s stock, valued at approximately $698,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its holdings in Emerson Electric by 1.7% during the 2nd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,338 shares of the industrial products company’s stock valued at $578,000 after acquiring an additional 71 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Emerson Electric by 3.5% in the third quarter. Revolve Wealth Partners LLC now owns 2,308 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 79 shares during the last quarter. Atlas Legacy Advisors LLC raised its position in shares of Emerson Electric by 2.1% during the 3rd quarter. Atlas Legacy Advisors LLC now owns 3,921 shares of the industrial products company’s stock worth $514,000 after purchasing an additional 79 shares during the last quarter. Unison Advisors LLC lifted its stake in Emerson Electric by 0.4% in the 3rd quarter. Unison Advisors LLC now owns 21,496 shares of the industrial products company’s stock valued at $2,820,000 after buying an additional 80 shares in the last quarter. Finally, Live Oak Private Wealth LLC grew its holdings in Emerson Electric by 1.9% during the 3rd quarter. Live Oak Private Wealth LLC now owns 4,407 shares of the industrial products company’s stock valued at $578,000 after buying an additional 81 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.
Emerson Electric Trading Up 1.7%
EMR stock opened at $151.38 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The company has a market cap of $85.07 billion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.36 and a beta of 1.26. The business has a fifty day simple moving average of $144.45 and a 200-day simple moving average of $136.60. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $165.15.
Emerson Electric announced that its board has initiated a share repurchase plan on Wednesday, November 5th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
Emerson Electric Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be issued a $0.555 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.22 annualized dividend and a yield of 1.5%. Emerson Electric’s dividend payout ratio (DPR) is presently 54.28%.
Insider Buying and Selling at Emerson Electric
In related news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of Emerson Electric stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $133.00, for a total transaction of $965,979.00. Following the transaction, the chief executive officer owned 196,292 shares in the company, valued at approximately $26,106,836. The trade was a 3.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Nicholas J. Piazza sold 6,703 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $159.07, for a total value of $1,066,246.21. Following the completion of the sale, the vice president owned 31,664 shares of the company’s stock, valued at approximately $5,036,792.48. This represents a 17.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,442 shares of company stock valued at $2,271,573 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.
Analyst Ratings Changes
EMR has been the topic of several recent research reports. Rothschild & Co Redburn upped their price objective on Emerson Electric from $154.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Loop Capital upped their target price on shares of Emerson Electric from $155.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Oppenheimer reiterated a “market perform” rating on shares of Emerson Electric in a report on Tuesday, January 27th. Daiwa Securities Group upped their price objective on shares of Emerson Electric from $153.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Finally, TD Cowen cut shares of Emerson Electric from a “buy” rating to a “hold” rating and set a $150.00 target price for the company. in a research note on Friday, January 9th. Eleven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Emerson Electric currently has a consensus rating of “Hold” and an average price target of $164.90.
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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