Cibc World Market Inc. purchased a new stake in Emerson Electric Co. (NYSE:EMR – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 97,400 shares of the industrial products company’s stock, valued at approximately $13,943,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Basso Capital Management L.P. purchased a new stake in shares of Emerson Electric in the 4th quarter valued at about $25,000. Allied Private Wealth LLC purchased a new position in Emerson Electric during the 2nd quarter worth $27,000. IFC & Insurance Marketing Inc. purchased a new position in Emerson Electric during the 4th quarter worth $27,000. Motiv8 Investments LLC acquired a new position in Emerson Electric in the fourth quarter valued at $27,000. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Emerson Electric in the fourth quarter valued at about $29,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.
Emerson Electric Price Performance
Emerson Electric stock opened at $157.56 on Tuesday. The company has a market cap of $88.25 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.34 and a beta of 1.24. Emerson Electric Co. has a one year low of $122.64 and a one year high of $166.35. The business has a fifty day moving average of $148.26 and a two-hundred day moving average of $143.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.66 and a current ratio of 0.90.
Emerson Electric Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be paid a $0.555 dividend. This represents a $2.22 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 14th. Emerson Electric’s dividend payout ratio (DPR) is presently 48.58%.
Insider Transactions at Emerson Electric
In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $161.91, for a total transaction of $1,562,431.50. Following the sale, the chief executive officer directly owned 271,743 shares in the company, valued at approximately $43,997,909.13. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.23% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on EMR. Wells Fargo & Company raised their price target on Emerson Electric from $135.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. DA Davidson lifted their target price on Emerson Electric from $145.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday. BMO Capital Markets boosted their target price on Emerson Electric from $157.00 to $175.00 in a report on Thursday, August 6th. Citigroup increased their price target on Emerson Electric from $174.00 to $182.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Emerson Electric in a research report on Friday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $167.39.
View 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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