Thomasville National Bank acquired a new position in Emerson Electric Co. (NYSE:EMR – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 43,047 shares of the industrial products company’s stock, valued at approximately $6,162,000.
A number of other large investors also recently modified their holdings of EMR. PensionDanmark Pensionsforsikringsaktieselskab grew its holdings in shares of Emerson Electric by 9.4% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 101,731 shares of the industrial products company’s stock valued at $14,563,000 after buying an additional 8,700 shares during the last quarter. Fisher Asset Management LLC lifted its position in Emerson Electric by 14.8% in the 4th quarter. Fisher Asset Management LLC now owns 7,191,118 shares of the industrial products company’s stock valued at $954,405,000 after acquiring an additional 928,548 shares in the last quarter. Truist Financial Corp boosted its stake in Emerson Electric by 4.6% during the 4th quarter. Truist Financial Corp now owns 1,185,160 shares of the industrial products company’s stock valued at $157,294,000 after purchasing an additional 52,440 shares during the last quarter. Legal & General Group Plc increased its holdings in Emerson Electric by 2.1% during the 4th quarter. Legal & General Group Plc now owns 4,114,470 shares of the industrial products company’s stock worth $546,072,000 after purchasing an additional 84,064 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Emerson Electric by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 12,328,324 shares of the industrial products company’s stock worth $1,628,638,000 after purchasing an additional 76,488 shares during the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.
Emerson Electric Stock Down 0.3%
EMR stock opened at $163.92 on Thursday. The stock has a market cap of $91.81 billion, a P/E ratio of 35.87, a P/E/G ratio of 2.44 and a beta of 1.24. The company has a current ratio of 0.90, a quick ratio of 0.66 and a debt-to-equity ratio of 0.37. The stock’s fifty day simple moving average is $145.39 and its two-hundred day simple moving average is $142.88. Emerson Electric Co. has a 1-year low of $122.64 and a 1-year high of $166.35.
Emerson Electric Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be given a $0.555 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.22 annualized dividend and a yield of 1.4%. Emerson Electric’s payout ratio is currently 48.58%.
Insider Buying and Selling at Emerson Electric
In other news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 271,743 shares of the company’s stock, valued at $43,997,909.13. This represents a 3.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
EMR has been the topic of several analyst reports. Sanford C. Bernstein cut their target price on Emerson Electric from $175.00 to $169.00 and set an “outperform” rating on the stock in a research report on Monday, July 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Emerson Electric in a research report on Friday, July 31st. Barclays lifted their price objective on shares of Emerson Electric from $140.00 to $144.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. HSBC upped their target price on shares of Emerson Electric from $170.00 to $180.00 in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised shares of Emerson Electric from a “neutral” rating to an “overweight” rating and set a $157.00 price target on the stock in a research report on Friday, July 17th. Thirteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.22.
Get Our Latest Research Report on Emerson Electric
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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