Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Emerson Electric Co. (NYSE:EMR – Free Report) by 3.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,155,761 shares of the industrial products company’s stock after buying an additional 39,784 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Emerson Electric were worth $151,613,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new position in Emerson Electric in the second quarter worth $29,000. Winnow Wealth LLC purchased a new stake in shares of Emerson Electric during the 2nd quarter valued at $34,000. Traub Capital Management LLC acquired a new stake in shares of Emerson Electric in the 2nd quarter worth $37,000. Twin Peaks Wealth Advisors LLC purchased a new position in Emerson Electric during the 2nd quarter worth $39,000. Finally, Financial Consulate Inc. acquired a new position in Emerson Electric during the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.
Emerson Electric Stock Up 2.9%
Shares of EMR opened at $152.69 on Friday. The company has a market capitalization of $85.81 billion, a price-to-earnings ratio of 37.33, a PEG ratio of 2.36 and a beta of 1.26. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $165.15. The stock’s 50-day moving average price is $146.18 and its 200-day moving average price is $137.14. The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 0.37.
Emerson Electric Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be given a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, February 13th. Emerson Electric’s dividend payout ratio (DPR) is currently 54.28%.
Emerson Electric declared that its Board of Directors has authorized a stock buyback program on Wednesday, November 5th that allows the company to buyback $0.00 in shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Analyst Ratings Changes
EMR has been the subject of several research reports. Wells Fargo & Company lifted their price objective on shares of Emerson Electric from $145.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. Rothschild & Co Redburn lifted their price target on Emerson Electric from $154.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. HSBC increased their price objective on Emerson Electric from $165.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Wolfe Research lifted their target price on Emerson Electric from $172.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Finally, Stephens increased their price target on shares of Emerson Electric from $145.00 to $155.00 and gave the stock an “equal weight” rating in a report on Monday, February 9th. Eleven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $164.90.
Read Our Latest Stock Analysis on EMR
Insider Buying and Selling at Emerson Electric
In other Emerson Electric 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 value of $965,979.00. Following the completion of the transaction, the chief executive officer owned 196,292 shares of the company’s stock, valued at approximately $26,106,836. The trade was a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Nicholas J. Piazza sold 6,703 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $159.07, for a total transaction of $1,066,246.21. Following the sale, the vice president directly owned 31,664 shares in the company, valued at approximately $5,036,792.48. The trade was a 17.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 15,442 shares of company stock valued at $2,271,573. 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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