NEOS Investment Management LLC grew its position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 13.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,866 shares of the industrial products company’s stock after buying an additional 10,719 shares during the quarter. NEOS Investment Management LLC’s holdings in Emerson Electric were worth $13,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in the company. AXQ Capital LP raised its position in Emerson Electric by 126.6% during the second quarter. AXQ Capital LP now owns 6,932 shares of the industrial products company’s stock valued at $992,000 after acquiring an additional 3,873 shares in the last quarter. Continuum Advisory LLC acquired a new position in shares of Emerson Electric during the 2nd quarter worth $132,000. Nykredit A S bought a new position in shares of Emerson Electric during the 2nd quarter valued at $103,038,000. Beacon Financial Advisory LLC lifted its stake in shares of Emerson Electric by 4.1% in the 2nd quarter. Beacon Financial Advisory LLC now owns 3,171 shares of the industrial products company’s stock valued at $454,000 after purchasing an additional 125 shares during the last quarter. Finally, Symphony Financial Ltd. Co. acquired a new stake in shares of Emerson Electric in the 2nd quarter valued at $432,000. Institutional investors and hedge funds own 74.30% of the company’s stock.
Emerson Electric Stock Performance
Shares of NYSE EMR opened at $152.88 on Friday. Emerson Electric Co. has a 12 month low of $122.64 and a 12 month high of $166.35. The company has a market cap of $85.63 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.25 and a beta of 1.24. The business’s 50 day moving average is $149.35 and its two-hundred day moving average is $143.45. The company has a quick ratio of 0.66, a current ratio of 0.90 and a debt-to-equity ratio of 0.37.
Emerson Electric Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.555 per share. The ex-dividend date is Friday, August 14th. This represents a $2.22 annualized dividend and a dividend yield of 1.5%. Emerson Electric’s payout ratio is presently 48.58%.
Analysts Set New Price Targets
Several equities analysts have commented on EMR shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Emerson Electric in a research report on Friday, July 31st. HSBC upped their price target on Emerson Electric from $170.00 to $180.00 in a research note on Thursday, August 6th. JPMorgan Chase & Co. raised Emerson Electric from a “neutral” rating to an “overweight” rating and set a $157.00 price objective on the stock in a report on Friday, July 17th. Daiwa Securities Group decreased their target price on Emerson Electric from $177.00 to $156.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Finally, Stephens increased their price target on Emerson Electric from $155.00 to $160.00 in a report on Thursday, August 6th. Thirteen research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.83.
Get Our Latest Stock Report on Emerson Electric
Insider Activity
In other news, CEO Surendralal Karsanbhai sold 9,650 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $161.91, for a total transaction of $1,562,431.50. Following the completion of the transaction, the chief executive officer owned 271,743 shares of the company’s stock, valued at approximately $43,997,909.13. This represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.
Emerson Electric Company 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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