Groupe la Francaise decreased its stake in Emerson Electric Co. (NYSE:EMR – Free Report) by 76.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 65,337 shares of the industrial products company’s stock after selling 211,666 shares during the period. Groupe la Francaise’s holdings in Emerson Electric were worth $9,353,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of EMR. Basso Capital Management L.P. purchased a new stake in Emerson Electric in the fourth quarter valued at $25,000. Allied Private Wealth LLC purchased a new position in shares of Emerson Electric during the second quarter worth about $27,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of Emerson Electric during the fourth quarter worth about $27,000. Motiv8 Investments LLC purchased a new stake in shares of Emerson Electric in the 4th quarter valued at about $27,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Emerson Electric in the 2nd quarter valued at about $29,000. 74.30% of the stock is owned by hedge funds and other institutional investors.
Emerson Electric Stock Performance
Shares of EMR opened at $152.88 on Monday. Emerson Electric Co. has a 1 year low of $122.64 and a 1 year high of $166.35. The stock has a market capitalization of $85.63 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.29 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.66 and a current ratio of 0.90. The company’s fifty day moving average is $149.35 and its two-hundred day moving average is $143.41.
Emerson Electric Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. Emerson Electric’s dividend payout ratio is 48.58%.
Insider Activity at Emerson Electric
In related news, CEO Surendralal Karsanbhai sold 9,650 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $161.91, for a total transaction of $1,562,431.50. Following the transaction, the chief executive officer owned 271,743 shares of the company’s stock, valued at $43,997,909.13. This represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
EMR has been the topic of a number of research reports. Citigroup raised their price target on Emerson Electric from $174.00 to $182.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. BMO Capital Markets increased their price objective on Emerson Electric from $157.00 to $175.00 in a report on Thursday, August 6th. Royal Bank Of Canada raised their target price 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. Sanford C. Bernstein upped their price target on shares of Emerson Electric from $169.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Emerson Electric in a research note on Friday, July 31st. Thirteen equities research 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. Based on data from MarketBeat, Emerson Electric has an average rating of “Moderate Buy” and an average target price of $167.83.
Check Out Our Latest Stock Report on Emerson Electric
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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