Keybank National Association OH grew its stake in Emerson Electric Co. (NYSE:EMR – Free Report) by 35.1% during the fourth quarter, HoldingsChannel reports. The firm owned 985,640 shares of the industrial products company’s stock after purchasing an additional 255,999 shares during the quarter. Keybank National Association OH’s holdings in Emerson Electric were worth $130,814,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Darwin Wealth Management LLC acquired a new position in shares of Emerson Electric in the second quarter valued at approximately $29,000. Ares Financial Consulting LLC acquired a new position in Emerson Electric during the fourth quarter worth $29,000. Steph & Co. acquired a new position in Emerson Electric during the fourth quarter worth $33,000. Wealth Watch Advisors INC acquired a new position in Emerson Electric during the third quarter worth $33,000. Finally, Financial Consulate Inc. acquired a new position in Emerson Electric during the third quarter worth $41,000. Institutional investors and hedge funds own 74.30% of the company’s stock.
Emerson Electric Stock Down 2.1%
EMR opened at $138.55 on Wednesday. The business’s fifty day moving average is $139.36 and its two-hundred day moving average is $138.85. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.62 and a current ratio of 0.84. The company has a market cap of $77.87 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 2.25 and a beta of 1.28. Emerson Electric Co. has a one year low of $102.84 and a one year high of $165.15.
Emerson Electric Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th were given a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, February 13th. Emerson Electric’s payout ratio is presently 54.28%.
Insiders Place Their Bets
In other news, Director Matthew S. Levatich sold 1,476 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $162.16, for a total value of $239,348.16. Following the sale, the director directly owned 24,349 shares in the company, valued at $3,948,433.84. This represents a 5.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Nicholas J. Piazza sold 6,703 shares of the company’s 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 in the company, valued at $5,036,792.48. This represents a 17.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 13,879 shares of company stock worth $2,116,818. 0.23% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on EMR shares. JPMorgan Chase & Co. upped their price objective on Emerson Electric from $150.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Jefferies Financial Group started coverage on Emerson Electric in a report on Tuesday, March 31st. They set a “buy” rating and a $175.00 price objective on the stock. KeyCorp upped their price objective on Emerson Electric from $155.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Daiwa Securities Group upped their price objective on Emerson Electric from $153.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Finally, BMO Capital Markets started coverage on Emerson Electric in a report on Friday, March 27th. They set a “market perform” rating and a $150.00 price objective on the stock. Twelve research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Emerson Electric presently has an average rating of “Hold” and a consensus price target of $162.38.
Read Our Latest Stock Report on Emerson Electric
Emerson Electric 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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