Generali Investments Management Co LLC lifted its position in Emerson Electric Co. (NYSE:EMR – Free Report) by 45.3% in the third quarter, Holdings Channel reports. The firm owned 11,965 shares of the industrial products company’s stock after buying an additional 3,732 shares during the period. Generali Investments Management Co LLC’s holdings in Emerson Electric were worth $1,570,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Emerson Electric by 0.4% in the third quarter. Vanguard Group Inc. now owns 54,330,938 shares of the industrial products company’s stock valued at $7,127,132,000 after acquiring an additional 201,040 shares in the last quarter. State Street Corp increased its position in Emerson Electric by 3.0% during the 2nd quarter. State Street Corp now owns 27,053,019 shares of the industrial products company’s stock valued at $3,606,979,000 after purchasing an additional 784,987 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Emerson Electric by 75.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,538,402 shares of the industrial products company’s stock valued at $1,671,762,000 after purchasing an additional 5,371,585 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Emerson Electric by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 12,143,357 shares of the industrial products company’s stock worth $1,610,958,000 after purchasing an additional 89,192 shares during the period. Finally, Norges Bank bought a new position in shares of Emerson Electric during the second quarter valued at approximately $918,830,000. 74.30% of the stock is currently owned by hedge funds and other institutional investors.
Emerson Electric Price Performance
Shares of EMR opened at $152.69 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.62. The company’s fifty day moving average price is $146.18 and its 200-day moving average price is $137.14. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $165.15. The firm has a market capitalization of $85.81 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 2.36 and a beta of 1.26.
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 paid a $0.555 dividend. This represents a $2.22 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, February 13th. Emerson Electric’s payout ratio is currently 54.28%.
Emerson Electric announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 5th that allows the company to buyback $0.00 in shares. This buyback authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on EMR. Wells Fargo & Company lifted their price target on Emerson Electric from $145.00 to $160.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. UBS Group upgraded Emerson Electric from a “neutral” rating to a “buy” rating and lifted their target price for the company from $131.00 to $168.00 in a research note on Monday, January 5th. HSBC increased their price target on shares of Emerson Electric from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Morgan Stanley lifted their price objective on shares of Emerson Electric from $115.00 to $125.00 and gave the stock an “underweight” rating in a research report on Friday, January 9th. Finally, Robert W. Baird increased their target price on shares of Emerson Electric from $143.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. Eleven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $164.90.
View Our Latest Analysis on EMR
Insider Buying and Selling
In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $133.00, for a total value of $965,979.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew S. Levatich sold 1,476 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $162.16, for a total value of $239,348.16. Following the completion of the transaction, the director directly owned 24,349 shares of the company’s stock, valued at $3,948,433.84. The trade was a 5.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 15,442 shares of company stock valued at $2,271,573. Corporate insiders own 0.23% of the company’s stock.
About Emerson Electric
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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