Northwestern Mutual Wealth Management Co. raised its holdings in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 2.4% during the second quarter, HoldingsChannel.com reports. The firm owned 468,029 shares of the industrial products company’s stock after buying an additional 10,759 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Emerson Electric were worth $66,998,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in EMR. Brighton Jones LLC grew its stake in shares of Emerson Electric by 74.1% during the fourth quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company’s stock worth $1,412,000 after acquiring an additional 4,850 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Emerson Electric during the 1st quarter valued at approximately $232,000. Caxton Associates LLP acquired a new stake in shares of Emerson Electric during the first quarter worth $275,000. Sivia Capital Partners LLC purchased a new stake in shares of Emerson Electric during the second quarter valued at $203,000. Finally, Jump Financial LLC increased its position in shares of Emerson Electric by 121.5% in the 2nd quarter. Jump Financial LLC now owns 10,543 shares of the industrial products company’s stock valued at $1,406,000 after acquiring an additional 5,783 shares during the period. 74.30% of the stock is owned by institutional investors and hedge funds.
Emerson Electric Price Performance
NYSE:EMR opened at $147.66 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. Emerson Electric Co. has a 52 week low of $122.64 and a 52 week high of $166.35. The stock’s 50-day moving average price is $148.91 and its 200-day moving average price is $143.34. The stock has a market capitalization of $82.70 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 2.27 and a beta of 1.24.
Emerson Electric Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be issued a $0.555 dividend. This represents a $2.22 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. Emerson Electric’s payout ratio is presently 48.58%.
Insiders Place Their Bets
In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $161.91, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Emerson Electric in a research report on Friday, July 31st. Evercore reduced their price objective on Emerson Electric from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Monday. Citigroup lifted their target price on Emerson Electric from $174.00 to $182.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. 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. Finally, BMO Capital Markets raised their price target on shares of Emerson Electric from $157.00 to $175.00 in a research report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $167.83.
View Our Latest Stock Report on EMR
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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