Commerzbank Aktiengesellschaft FI purchased a new stake in Emerson Electric Co. (NYSE:EMR – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 19,974 shares of the industrial products company’s stock, valued at approximately $2,859,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Emerson Electric by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 54,909,180 shares of the industrial products company’s stock worth $7,287,546,000 after purchasing an additional 578,242 shares during the last quarter. State Street Corp raised its position in 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 worth $3,647,602,000 after buying an additional 541,887 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Emerson Electric by 13.1% in the 1st quarter. Bank of America Corp DE now owns 19,941,844 shares of the industrial products company’s stock worth $2,612,780,000 after acquiring an additional 2,302,055 shares during the period. Geode Capital Management LLC boosted its holdings in shares of 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 valued at $1,628,638,000 after acquiring an additional 76,488 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Emerson Electric by 1.3% during the fourth quarter. Wells Fargo & Company MN now owns 10,840,109 shares of the industrial products company’s stock worth $1,438,699,000 after purchasing an additional 134,049 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.
Emerson Electric Trading Down 0.7%
Shares of Emerson Electric stock opened at $162.06 on Tuesday. The company has a 50-day moving average of $146.78 and a two-hundred day moving average of $143.19. Emerson Electric Co. has a 12-month low of $122.64 and a 12-month high of $166.35. The company has a current ratio of 0.90, a quick ratio of 0.66 and a debt-to-equity ratio of 0.37. The stock has a market cap of $90.77 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 2.43 and a beta of 1.24.
Emerson Electric Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a $0.555 dividend. 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 48.58%.
Insider Buying and Selling at Emerson Electric
In other news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was 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 in the company, valued at $43,997,909.13. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
EMR has been the topic of a number of analyst reports. BMO Capital Markets lifted their price objective on Emerson Electric from $157.00 to $175.00 in a report on Thursday, August 6th. Daiwa Securities Group reduced their price target on Emerson Electric from $177.00 to $156.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Rothschild & Co Redburn lifted their price target on Emerson Electric from $165.00 to $180.00 in a research note on Thursday, August 6th. Royal Bank Of Canada upped their price objective on Emerson Electric from $169.00 to $179.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Finally, KeyCorp reduced their target price on Emerson Electric from $185.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Thirteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.96.
Get Our Latest Stock 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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