Mutual of America Capital Management LLC decreased its position in Emerson Electric Co. (NYSE:EMR – Free Report) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,022 shares of the industrial products company’s stock after selling 3,500 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Emerson Electric were worth $8,005,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in Emerson Electric by 74.1% in the fourth quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company’s stock worth $1,412,000 after purchasing an additional 4,850 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Emerson Electric in the first quarter worth about $232,000. Caxton Associates LLP bought a new stake in shares of Emerson Electric during the 1st quarter worth about $275,000. Sivia Capital Partners LLC acquired a new position in shares of Emerson Electric during the 2nd quarter valued at about $203,000. Finally, GC Wealth Management RIA LLC lifted its holdings in Emerson Electric by 88.3% in the 2nd quarter. GC Wealth Management RIA LLC now owns 6,881 shares of the industrial products company’s stock worth $917,000 after purchasing an additional 3,226 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.
Emerson Electric Stock Down 0.9%
EMR stock opened at $147.78 on Wednesday. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $151.74. The company has a quick ratio of 0.65, a current ratio of 0.88 and a debt-to-equity ratio of 0.41. The company has a market cap of $83.10 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 2.42 and a beta of 1.26. The business’s 50-day simple moving average is $138.16 and its 200 day simple moving average is $135.71.
Emerson Electric Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were issued a $0.555 dividend. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.22 annualized dividend and a yield of 1.5%. Emerson Electric’s payout ratio is presently 54.95%.
Emerson Electric declared that its Board of Directors has approved a share repurchase program on Wednesday, November 5th that allows the company to buyback $0.00 in shares. This buyback authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
Several brokerages have commented on EMR. Wolfe Research increased their price target on Emerson Electric from $168.00 to $172.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Wells Fargo & Company raised their target price on shares of Emerson Electric from $140.00 to $145.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Barclays boosted their target price on shares of Emerson Electric from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Morgan Stanley raised their price target on Emerson Electric from $115.00 to $125.00 and gave the company an “underweight” rating in a research report on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Emerson Electric from $157.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Ten research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Emerson Electric presently has a consensus rating of “Hold” and an average price target of $154.76.
View Our Latest Stock Report on Emerson Electric
Insider Activity
In other news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $133.00, for a total transaction of $965,979.00. Following the completion of the transaction, the chief executive officer directly owned 196,292 shares of the company’s stock, valued at approximately $26,106,836. This trade represents a 3.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.
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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