Raiffeisen Bank International AG boosted its position in Emerson Electric Co. (NYSE:EMR – Free Report) by 45.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,444 shares of the industrial products company’s stock after buying an additional 3,598 shares during the quarter. Raiffeisen Bank International AG’s holdings in Emerson Electric were worth $1,479,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of EMR. Vanguard Group Inc. increased its stake in shares of Emerson Electric by 0.4% in the third quarter. Vanguard Group Inc. now owns 54,330,938 shares of the industrial products company’s stock worth $7,127,132,000 after purchasing an additional 201,040 shares during the period. State Street Corp grew its holdings in Emerson Electric by 3.0% in the 2nd quarter. State Street Corp now owns 27,053,019 shares of the industrial products company’s stock valued at $3,606,979,000 after buying an additional 784,987 shares during the last quarter. JPMorgan Chase & Co. increased its position in Emerson Electric by 75.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,538,402 shares of the industrial products company’s stock worth $1,671,762,000 after buying an additional 5,371,585 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Emerson Electric by 0.7% during the second quarter. Geode Capital Management LLC now owns 12,143,357 shares of the industrial products company’s stock worth $1,610,958,000 after buying an additional 89,192 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Emerson Electric in the second quarter valued at approximately $918,830,000. 74.30% of the stock is currently owned by institutional investors.
Emerson Electric Stock Performance
NYSE:EMR opened at $148.72 on Friday. The firm has a market capitalization of $83.58 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 2.36 and a beta of 1.26. The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. Emerson Electric Co. has a 12-month low of $90.06 and a 12-month high of $165.15. The firm has a 50-day moving average price of $144.92 and a 200 day moving average price of $136.71.
Emerson Electric announced that its board has authorized a share buyback plan on Wednesday, November 5th that allows the company to buyback $0.00 in shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Emerson Electric Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be issued a dividend of $0.555 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.5%. Emerson Electric’s dividend payout ratio (DPR) is presently 54.28%.
Insider Activity
In other Emerson Electric news, VP Nicholas J. Piazza sold 6,703 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $159.07, for a total value of $1,066,246.21. Following the transaction, the vice president directly owned 31,664 shares in the company, valued at $5,036,792.48. The trade was a 17.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew S. Levatich sold 1,476 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $162.16, for a total transaction of $239,348.16. Following the sale, the director directly owned 24,349 shares in the company, valued at $3,948,433.84. This represents a 5.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 15,442 shares of company stock worth $2,271,573. Corporate insiders own 0.23% of the company’s stock.
Wall Street Analysts Forecast Growth
EMR has been the topic of a number of research reports. Stephens boosted their target price on shares of Emerson Electric from $145.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Monday, February 9th. Oppenheimer restated a “market perform” rating on shares of Emerson Electric in a research report on Tuesday, January 27th. Morgan Stanley upped their price objective on shares of Emerson Electric from $115.00 to $125.00 and gave the company an “underweight” rating in a research report on Friday, January 9th. Evercore lifted their target price on Emerson Electric from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Finally, Barclays upped their price target on Emerson Electric from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Eleven 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 company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $164.90.
Get Our Latest Stock Analysis 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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