Checchi Capital Advisers LLC Increases Position in Emerson Electric Co. (NYSE:EMR)
Checchi Capital Advisers LLC increased its stake in Emerson Electric Co. (NYSE:EMR) by 22.0% in the 1st quarter, Holdings Channel reports. The fund owned 7,267 shares of the industrial products company’s stock after buying an additional 1,310 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Emerson Electric were worth $346,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. Capital World Investors grew its position in Emerson Electric by 0.7% in the fourth quarter. Capital World Investors now owns 14,705,335 shares of the industrial products company’s stock worth $1,121,429,000 after acquiring an additional 102,776 shares in the last quarter. Geode Capital Management LLC lifted its stake in Emerson Electric by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 8,517,940 shares of the industrial products company’s stock worth $648,302,000 after purchasing an additional 203,498 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Emerson Electric by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 7,189,596 shares of the industrial products company’s stock worth $342,583,000 after purchasing an additional 237,758 shares during the last quarter. Norges Bank bought a new stake in Emerson Electric in the fourth quarter worth $526,722,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Emerson Electric by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,043,403 shares of the industrial products company’s stock worth $384,610,000 after purchasing an additional 69,801 shares during the last quarter. Institutional investors own 73.17% of the company’s stock.
EMR stock opened at $52.94 on Friday. Emerson Electric Co. has a 1 year low of $37.75 and a 1 year high of $78.38. The company has a market cap of $31.89 billion, a P/E ratio of 15.13, a PEG ratio of 2.92 and a beta of 1.51. The firm has a 50-day moving average of $51.41 and a 200 day moving average of $66.04. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.01 and a quick ratio of 0.75.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, May 14th. Emerson Electric’s dividend payout ratio (DPR) is presently 54.20%.
In other news, Director Arthur F. Golden purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average price of $51.47 per share, for a total transaction of $257,350.00. Following the completion of the acquisition, the director now directly owns 81,898 shares in the company, valued at approximately $4,215,290.06. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.
Several analysts have weighed in on the stock. Vertical Research downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research note on Monday, March 23rd. Deutsche Bank lowered their price target on shares of Emerson Electric from $93.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Morgan Stanley boosted their price target on shares of Emerson Electric from $50.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 22nd. Argus raised shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Wednesday, April 22nd. Finally, Cowen reissued a “hold” rating and issued a $63.00 price target on shares of Emerson Electric in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Emerson Electric currently has an average rating of “Hold” and an average target price of $63.87.
Emerson Electric Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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