Dearborn Partners LLC purchased a new position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,504 shares of the industrial products company’s stock, valued at approximately $1,217,000.
A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Emerson Electric during the 2nd quarter worth $6,193,425,000. Bank of America Corp DE purchased a new stake in Emerson Electric in the second quarter valued at about $2,629,146,000. Norges Bank acquired a new stake in Emerson Electric in the fourth quarter worth about $1,050,040,000. Bank of New York Mellon Corp purchased a new stake in shares of Emerson Electric during the second quarter worth about $659,000,000. Finally, Legal & General Group Plc acquired a new position in shares of Emerson Electric during the second quarter valued at about $613,846,000. Institutional investors and hedge funds own 74.30% of the company’s stock.
Emerson Electric Stock Down 0.4%
NYSE:EMR opened at $157.58 on Friday. 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 company’s fifty day moving average price is $148.70 and its 200-day moving average price is $143.49. Emerson Electric Co. has a 1-year low of $122.64 and a 1-year high of $166.35. The firm has a market capitalization of $88.26 billion, a P/E ratio of 34.48, a PEG ratio of 2.35 and a beta of 1.24.
Emerson Electric Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be given a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, August 14th. Emerson Electric’s dividend payout ratio (DPR) is currently 48.58%.
Insiders Place Their Bets
In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of Emerson Electric 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 transaction, the chief executive officer owned 271,743 shares of the company’s stock, valued at approximately $43,997,909.13. The trade was a 3.43% 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. Insiders own 0.23% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently commented on EMR. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Emerson Electric in a research report on Friday, July 31st. Royal Bank Of Canada upped their price target on shares of Emerson Electric from $169.00 to $179.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Daiwa Securities Group lowered their price objective on shares of Emerson Electric from $177.00 to $156.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. Wall Street Zen raised shares of Emerson Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, JPMorgan Chase & Co. raised Emerson Electric from a “neutral” rating to an “overweight” rating and set a $157.00 target price on the stock in a research report on Friday, July 17th. Thirteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Emerson Electric presently has an average rating of “Moderate Buy” and an average price target of $167.39.
Read Our Latest Research Report on EMR
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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