Canada Pension Plan Investment Board purchased a new position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 217,558 shares of the industrial products company’s stock, valued at approximately $31,143,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Basso Capital Management L.P. acquired a new stake in shares of Emerson Electric during the 4th quarter valued at about $25,000. Allied Private Wealth LLC acquired a new position in Emerson Electric in the second quarter worth about $27,000. IFC & Insurance Marketing Inc. bought a new position in Emerson Electric during the fourth quarter worth about $27,000. Motiv8 Investments LLC acquired a new stake in Emerson Electric during the fourth quarter valued at approximately $27,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Emerson Electric in the 2nd quarter worth approximately $29,000. 74.30% of the stock is owned by institutional investors.
Emerson Electric Trading Down 1.5%
EMR stock opened at $155.37 on Friday. The business has a fifty day moving average price of $148.79 and a 200 day moving average price of $143.58. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.66. Emerson Electric Co. has a fifty-two week low of $122.64 and a fifty-two week high of $166.35. The stock has a market capitalization of $87.02 billion, a price-to-earnings ratio of 34.00, a P/E/G ratio of 2.35 and a beta of 1.24.
Emerson Electric Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be given a dividend of $0.555 per share. The ex-dividend date is Friday, August 14th. This represents a $2.22 annualized dividend and a yield of 1.4%. Emerson Electric’s dividend payout ratio is 48.58%.
Insider Buying and Selling
In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $161.91, for a total value of $1,562,431.50. Following the completion of the sale, the chief executive officer owned 271,743 shares in the company, valued at approximately $43,997,909.13. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
EMR has been the topic of several recent analyst reports. DA Davidson boosted their price target on Emerson Electric from $145.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday, August 24th. Wall Street Zen upgraded Emerson Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. BMO Capital Markets lifted their price objective on Emerson Electric from $157.00 to $175.00 in a report on Thursday, August 6th. Morgan Stanley upped their target price on shares of Emerson Electric from $125.00 to $135.00 and gave the stock an “underweight” rating in a report on Friday. Finally, Stephens increased their target price on shares of Emerson Electric from $155.00 to $160.00 in a research report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Emerson Electric has a consensus rating of “Moderate Buy” and a consensus price target of $167.83.
View 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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