Mission Wealth Management LP raised its holdings in Emerson Electric Co. (NYSE:EMR – Free Report) by 519.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,386 shares of the industrial products company’s stock after purchasing an additional 11,224 shares during the period. Mission Wealth Management LP’s holdings in Emerson Electric were worth $1,916,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in shares of Emerson Electric by 9.4% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 101,731 shares of the industrial products company’s stock worth $14,563,000 after purchasing an additional 8,700 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Emerson Electric by 14.8% in the fourth quarter. Fisher Asset Management LLC now owns 7,191,118 shares of the industrial products company’s stock worth $954,405,000 after purchasing an additional 928,548 shares in the last quarter. Truist Financial Corp lifted its position in shares of Emerson Electric by 4.6% during the fourth quarter. Truist Financial Corp now owns 1,185,160 shares of the industrial products company’s stock valued at $157,294,000 after buying an additional 52,440 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Emerson Electric by 2.1% in the 4th quarter. Legal & General Group Plc now owns 4,114,470 shares of the industrial products company’s stock valued at $546,072,000 after buying an additional 84,064 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Emerson Electric by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 12,328,324 shares of the industrial products company’s stock worth $1,628,638,000 after buying an additional 76,488 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.
Emerson Electric Price Performance
NYSE:EMR opened at $163.92 on Thursday. The stock has a 50 day moving average of $145.39 and a two-hundred day moving average of $142.88. Emerson Electric Co. has a 12 month low of $122.64 and a 12 month high of $166.35. The firm has a market cap of $91.81 billion, a P/E ratio of 35.87, a price-to-earnings-growth ratio of 2.44 and a beta of 1.24. 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 Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a $0.555 dividend. This represents a $2.22 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend 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 the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 271,743 shares of the company’s stock, valued at $43,997,909.13. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the stock. KeyCorp cut their price target on shares of Emerson Electric from $185.00 to $170.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Emerson Electric in a research note on Friday, July 31st. Wall Street Zen raised Emerson Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Royal Bank Of Canada upped their price objective on shares of Emerson Electric from $169.00 to $179.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, DA Davidson began coverage on Emerson Electric in a research report on Tuesday, June 16th. They set a “neutral” rating and a $145.00 target price on the stock. Thirteen 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $166.22.
View Our Latest Analysis on Emerson Electric
Emerson Electric Company 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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