Citizens Financial Group Inc. RI purchased a new stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 41,828 shares of the industrial products company’s stock, valued at approximately $5,988,000.
Several other institutional investors also recently bought and sold shares of the company. Basso Capital Management L.P. bought a new stake in Emerson Electric during the 4th quarter valued at about $25,000. Allied Private Wealth LLC bought a new position in shares of Emerson Electric in the second quarter worth approximately $27,000. IFC & Insurance Marketing Inc. purchased a new stake in shares of Emerson Electric during the fourth quarter valued at approximately $27,000. Motiv8 Investments LLC bought a new stake in shares of Emerson Electric during the fourth quarter valued at approximately $27,000. Finally, MidFirst Bank purchased a new position in Emerson Electric in the 2nd quarter worth approximately $31,000. 74.30% of the stock is owned by hedge funds and other institutional investors.
Emerson Electric Price Performance
NYSE EMR opened at $162.06 on Tuesday. The stock has a market capitalization of $90.77 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 2.43 and a beta of 1.24. Emerson Electric Co. has a 1-year low of $122.64 and a 1-year high of $166.35. 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 business’s fifty day moving average price is $146.78 and its 200-day moving average price is $143.19.
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 given 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 dividend yield of 1.4%. Emerson Electric’s dividend payout ratio is presently 48.58%.
Insider Buying and Selling at Emerson Electric
In related 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 owned 271,743 shares of the company’s stock, valued at approximately $43,997,909.13. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several analysts have commented on the company. BMO Capital Markets increased their target price on Emerson Electric from $157.00 to $175.00 in a research note on Thursday, August 6th. JPMorgan Chase & Co. raised Emerson Electric from a “neutral” rating to an “overweight” rating and set a $157.00 price target on the stock in a report on Friday, July 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Emerson Electric in a research report on Friday, July 31st. Wells Fargo & Company boosted their target price on Emerson Electric from $135.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada upped their target price 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. Thirteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $166.96.
Check Out 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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