Johnson Financial Group Inc. acquired a new position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 9,494 shares of the industrial products company’s stock, valued at approximately $1,359,000.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Emerson Electric by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 54,909,180 shares of the industrial products company’s stock valued at $7,287,546,000 after purchasing an additional 578,242 shares during the period. BlackRock Inc. purchased a new stake in shares of Emerson Electric in the 2nd quarter valued at approximately $6,193,425,000. State Street Corp raised its position in shares of Emerson Electric by 2.0% during the 4th quarter. State Street Corp now owns 27,483,440 shares of the industrial products company’s stock valued at $3,647,602,000 after buying an additional 541,887 shares during the period. Bank of America Corp DE lifted its holdings in Emerson Electric by 13.1% in the first quarter. Bank of America Corp DE now owns 19,941,844 shares of the industrial products company’s stock valued at $2,612,780,000 after acquiring an additional 2,302,055 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Emerson Electric by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 12,328,324 shares of the industrial products company’s stock worth $1,628,638,000 after acquiring an additional 76,488 shares during the period. Hedge funds and other institutional investors own 74.30% of the company’s stock.
Emerson Electric Stock Down 0.1%
Shares of NYSE EMR opened at $157.60 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.66 and a debt-to-equity ratio of 0.37. Emerson Electric Co. has a 12-month low of $122.64 and a 12-month high of $166.35. The stock has a market cap of $88.27 billion, a P/E ratio of 34.49, a PEG ratio of 2.35 and a beta of 1.24. The business’s fifty day simple moving average is $147.50 and its 200-day simple moving average is $143.31.
Emerson Electric Announces Dividend
The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.22 annualized dividend and a yield of 1.4%. Emerson Electric’s dividend payout ratio is currently 48.58%.
Insider Buying and Selling
In other news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $161.91, for a total value of $1,562,431.50. Following the completion of the sale, the chief executive officer owned 271,743 shares in the company, valued at approximately $43,997,909.13. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.
Analysts Set New Price Targets
EMR has been the subject of a number of recent analyst reports. KeyCorp cut their price objective on Emerson Electric from $185.00 to $170.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Stephens increased their target price on shares of Emerson Electric from $155.00 to $160.00 in a research note on Thursday, August 6th. Wall Street Zen raised shares of Emerson Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. HSBC upped their price objective on shares of Emerson Electric from $170.00 to $180.00 in a report on Thursday, August 6th. Finally, BNP Paribas Exane boosted their target price on Emerson Electric from $180.00 to $185.00 in a research report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $166.96.
Read Our Latest Stock Analysis on EMR
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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