Wedbush Securities Inc. lifted its stake in Emerson Electric Co. (NYSE:EMR – Free Report) by 88.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 19,197 shares of the industrial products company’s stock after purchasing an additional 9,009 shares during the period. Wedbush Securities Inc.’s holdings in Emerson Electric were worth $2,518,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Varma Mutual Pension Insurance Co grew its stake in shares of Emerson Electric by 8.9% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 128,505 shares of the industrial products company’s stock valued at $16,857,000 after buying an additional 10,500 shares during the period. Savvy Advisors Inc. lifted its holdings in Emerson Electric by 6.2% in the third quarter. Savvy Advisors Inc. now owns 7,026 shares of the industrial products company’s stock valued at $922,000 after acquiring an additional 413 shares during the last quarter. Caprock Group LLC acquired a new stake in Emerson Electric during the third quarter worth $3,359,000. Impax Asset Management Group plc raised its position in Emerson Electric by 30.0% in the third quarter. Impax Asset Management Group plc now owns 120,193 shares of the industrial products company’s stock valued at $15,767,000 after purchasing an additional 27,705 shares during the period. Finally, Krilogy Financial LLC lifted its stake in shares of Emerson Electric by 69.3% in the 3rd quarter. Krilogy Financial LLC now owns 38,047 shares of the industrial products company’s stock valued at $5,039,000 after purchasing an additional 15,569 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.
Emerson Electric Stock Performance
NYSE:EMR opened at $145.03 on Friday. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $165.15. The company has a fifty day simple moving average of $143.43 and a two-hundred day simple moving average of $136.57. The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The company has a market cap of $81.51 billion, a price-to-earnings ratio of 35.46, a price-to-earnings-growth ratio of 2.46 and a beta of 1.26.
Emerson Electric announced that its Board of Directors has authorized a stock repurchase program on Wednesday, November 5th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Emerson Electric Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be issued a $0.555 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.22 annualized dividend and a yield of 1.5%. Emerson Electric’s dividend payout ratio (DPR) is 54.28%.
Insiders Place Their Bets
In other Emerson Electric news, VP Nicholas J. Piazza sold 6,703 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $159.07, for a total value of $1,066,246.21. Following the sale, the vice president directly owned 31,664 shares of the company’s stock, valued at approximately $5,036,792.48. This represents a 17.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer owned 196,292 shares in the company, valued at $26,106,836. The trade was a 3.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 15,442 shares of company stock worth $2,271,573 in the last 90 days. Corporate insiders own 0.23% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Wolfe Research upped their target price on shares of Emerson Electric from $172.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. UBS Group raised shares of Emerson Electric from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $131.00 to $168.00 in a research report on Monday, January 5th. Barclays lifted their target price on shares of Emerson Electric from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Wells Fargo & Company upped their price target on Emerson Electric from $145.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. Finally, Robert W. Baird lifted their price objective on Emerson Electric from $143.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, January 16th. Ten investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $164.11.
Check Out Our Latest Stock Report on EMR
Emerson Electric 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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