Berman McAleer LLC acquired a new position in Emerson Electric Co. (NYSE:EMR – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,012 shares of the industrial products company’s stock, valued at approximately $789,000.
Other institutional investors have also recently made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in shares of Emerson Electric by 1.7% during the 2nd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,338 shares of the industrial products company’s stock valued at $578,000 after purchasing an additional 71 shares during the period. Jag Capital Management LLC grew its holdings in Emerson Electric by 1.9% during the 2nd quarter. Jag Capital Management LLC now owns 3,954 shares of the industrial products company’s stock valued at $527,000 after buying an additional 72 shares in the last quarter. Beacon Financial Advisory LLC increased its position in shares of Emerson Electric by 2.9% during the second quarter. Beacon Financial Advisory LLC now owns 2,769 shares of the industrial products company’s stock valued at $369,000 after buying an additional 77 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Emerson Electric by 3.5% in the third quarter. Revolve Wealth Partners LLC now owns 2,308 shares of the industrial products company’s stock worth $303,000 after buying an additional 79 shares in the last quarter. Finally, Atlas Legacy Advisors LLC boosted its position in shares of Emerson Electric by 2.1% in the third quarter. Atlas Legacy Advisors LLC now owns 3,921 shares of the industrial products company’s stock valued at $514,000 after acquiring an additional 79 shares during the period. Hedge funds and other institutional investors own 74.30% of the company’s stock.
Emerson Electric Stock Down 2.4%
Shares of EMR opened at $147.04 on Friday. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $152.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.88 and a quick ratio of 0.65. The stock has a 50 day simple moving average of $139.49 and a two-hundred day simple moving average of $135.95. The firm has a market cap of $82.68 billion, a P/E ratio of 36.40, a P/E/G ratio of 2.44 and a beta of 1.26.
Emerson Electric declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 5th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
Emerson Electric Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th were issued a $0.555 dividend. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.22 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, November 14th. Emerson Electric’s dividend payout ratio (DPR) is presently 54.95%.
Insiders Place Their Bets
In related news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $133.00, for a total transaction of $965,979.00. Following the completion of the sale, the chief executive officer directly owned 196,292 shares in the company, valued at $26,106,836. This represents a 3.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.23% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
EMR has been the subject of several analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Emerson Electric in a report on Wednesday, January 21st. Oppenheimer reissued a “market perform” rating on shares of Emerson Electric in a research note on Tuesday. Evercore ISI initiated coverage on Emerson Electric in a research note on Monday, December 15th. They issued an “outperform” rating and a $170.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on Emerson Electric from $150.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. Finally, Barclays upped their price objective on shares of Emerson Electric from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Ten equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $154.76.
Read Our Latest Research Report on Emerson Electric
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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