Jones Financial Companies Lllp purchased a new stake in Emerson Electric Co. (NYSE:EMR – Free Report) in the second quarter, HoldingsChannel.com reports. The firm purchased 31,067 shares of the industrial products company’s stock, valued at approximately $4,447,000.
A number of other hedge funds have also bought and sold shares of EMR. Basso Capital Management L.P. acquired a new position in shares of Emerson Electric in the fourth quarter valued at about $25,000. Allied Private Wealth LLC purchased a new position in shares of Emerson Electric during the 2nd quarter valued at about $27,000. IFC & Insurance Marketing Inc. purchased a new stake in shares of Emerson Electric in the fourth quarter worth about $27,000. Motiv8 Investments LLC acquired a new stake in Emerson Electric during the fourth quarter worth about $27,000. Finally, Ares Financial Consulting LLC purchased a new position in Emerson Electric during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 74.30% of the company’s stock.
Emerson Electric Stock Performance
NYSE EMR opened at $157.56 on Tuesday. 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 stock’s 50 day simple moving average is $148.26 and its 200-day simple moving average is $143.46. The company has a market cap of $88.25 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.34 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.
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 given a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 14th. Emerson Electric’s dividend payout ratio is 48.58%.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. JPMorgan Chase & Co. upgraded Emerson Electric from a “neutral” rating to an “overweight” rating and set a $157.00 price objective on the stock in a research report on Friday, July 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Emerson Electric in a report on Friday, July 31st. Sanford C. Bernstein lifted their price objective on shares of Emerson Electric from $169.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Rothschild & Co Redburn upped their price objective on shares of Emerson Electric from $165.00 to $180.00 in a research report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their price objective on Emerson Electric from $135.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $167.39.
Check Out Our Latest Research Report on EMR
Insiders Place Their Bets
In related news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $43,997,909.13. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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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