First Trust Advisors LP decreased its stake in Emerson Electric Co. (NYSE:EMR – Free Report) by 11.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 482,159 shares of the industrial products company’s stock after selling 65,210 shares during the period. First Trust Advisors LP’s holdings in Emerson Electric were worth $63,250,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Darwin Wealth Management LLC acquired a new stake in Emerson Electric during the 2nd quarter valued at approximately $29,000. Winnow Wealth LLC acquired a new position in shares of Emerson Electric in the 2nd quarter worth approximately $34,000. Traub Capital Management LLC bought a new stake in shares of Emerson Electric in the 2nd quarter valued at $37,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Emerson Electric during the second quarter worth $39,000. Finally, Financial Consulate Inc. bought a new position in Emerson Electric during the third quarter worth $41,000. 74.30% of the stock is owned by institutional investors and hedge funds.
Emerson Electric Price Performance
EMR stock opened at $140.34 on Wednesday. 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 50-day moving average is $147.67 and its 200-day moving average is $137.89. The stock has a market capitalization of $78.87 billion, a PE ratio of 34.31, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $165.15.
Emerson Electric Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 13th were given a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, February 13th. Emerson Electric’s dividend payout ratio is presently 54.28%.
Analysts Set New Price Targets
A number of analysts have commented on EMR shares. Jefferies Financial Group upped their price target on shares of Emerson Electric from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Morgan Stanley upped their target price on Emerson Electric from $115.00 to $125.00 and gave the company an “underweight” rating in a research report on Friday, January 9th. Citigroup raised their target price on Emerson Electric from $165.00 to $174.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Weiss Ratings lowered Emerson Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft cut Emerson Electric from a “buy” rating to a “hold” rating and set a $170.00 price target on the stock. in a report on Thursday, February 5th. Eleven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $164.85.
Check Out Our Latest Report on EMR
Insider Buying and Selling at Emerson Electric
In other Emerson Electric news, Director Matthew S. Levatich sold 1,476 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $162.16, for a total transaction of $239,348.16. Following the completion of the sale, the director owned 24,349 shares in the company, valued at approximately $3,948,433.84. The trade was a 5.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Nicholas J. Piazza sold 6,703 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $159.07, for a total transaction of $1,066,246.21. Following the transaction, the vice president owned 31,664 shares in the company, valued at approximately $5,036,792.48. The trade was a 17.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.23% of the company’s stock.
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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