Wheelhouse Advisory Group LLC lowered its position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 52.8% in the third quarter, HoldingsChannel reports. The fund owned 4,599 shares of the industrial products company’s stock after selling 5,136 shares during the period. Emerson Electric accounts for approximately 0.3% of Wheelhouse Advisory Group LLC’s investment portfolio, making the stock its 26th largest holding. Wheelhouse Advisory Group LLC’s holdings in Emerson Electric were worth $603,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new position in shares of Emerson Electric in the 2nd quarter valued at about $29,000. Winnow Wealth LLC acquired a new position in Emerson Electric in the second quarter valued at about $34,000. PFS Partners LLC boosted its holdings in Emerson Electric by 65.9% during the second quarter. PFS Partners LLC now owns 272 shares of the industrial products company’s stock worth $36,000 after buying an additional 108 shares during the last quarter. Traub Capital Management LLC bought a new stake in Emerson Electric in the second quarter valued at approximately $37,000. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Emerson Electric in the 2nd quarter valued at $38,000. Institutional investors own 74.30% of the company’s stock.
Emerson Electric Trading Down 0.2%
Shares of NYSE:EMR opened at $147.87 on Friday. The stock has a market capitalization of $83.15 billion, a PE ratio of 36.60, a price-to-earnings-growth ratio of 2.40 and a beta of 1.26. The company’s 50-day moving average price is $135.01 and its two-hundred day moving average price is $135.14. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.88 and a quick ratio of 0.65. Emerson Electric Co. has a one year low of $90.06 and a one year high of $151.34.
Emerson Electric Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th were paid a dividend of $0.555 per share. The ex-dividend date was Friday, November 14th. This represents a $2.22 annualized dividend and a dividend yield of 1.5%. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio is presently 54.95%.
Emerson Electric announced that its board has initiated a share repurchase program on Wednesday, November 5th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
Wall Street Analyst Weigh In
Several research firms have weighed in on EMR. JPMorgan Chase & Co. reduced their target price on Emerson Electric from $151.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Emerson Electric in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Wells Fargo & Company boosted their price objective on shares of Emerson Electric from $140.00 to $145.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Finally, Daiwa Capital Markets lifted their price target on Emerson Electric from $150.00 to $153.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Emerson Electric has a consensus rating of “Moderate Buy” and a consensus target price of $152.35.
View Our Latest Report on Emerson Electric
Insider Buying and Selling at Emerson Electric
In related news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $133.00, for a total value of $965,979.00. Following the sale, the chief executive officer owned 196,292 shares in the company, valued at approximately $26,106,836. This 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. 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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