Public Employees Retirement System of Ohio acquired a new stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 232,460 shares of the industrial products company’s stock, valued at approximately $33,277,000.
A number of other institutional investors have also modified their holdings of EMR. Rooted Wealth Advisors Inc. grew its stake in Emerson Electric by 3.0% in the fourth quarter. Rooted Wealth Advisors Inc. now owns 2,195 shares of the industrial products company’s stock worth $291,000 after purchasing an additional 64 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in Emerson Electric by 2.4% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 3,098 shares of the industrial products company’s stock valued at $411,000 after buying an additional 72 shares in the last quarter. Zhang Financial LLC lifted its holdings in Emerson Electric by 2.7% during the 4th quarter. Zhang Financial LLC now owns 2,892 shares of the industrial products company’s stock worth $384,000 after buying an additional 76 shares during the last quarter. Root Financial Partners LLC grew its position in shares of Emerson Electric by 3.6% in the 4th quarter. Root Financial Partners LLC now owns 2,227 shares of the industrial products company’s stock worth $296,000 after acquiring an additional 78 shares in the last quarter. Finally, REAP Financial Group LLC increased its holdings in shares of Emerson Electric by 4.4% in the 4th quarter. REAP Financial Group LLC now owns 1,892 shares of the industrial products company’s stock valued at $251,000 after acquiring an additional 79 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.
Emerson Electric Stock Performance
Shares of EMR opened at $155.37 on Friday. The firm has a fifty day moving average of $148.79 and a 200-day moving average of $143.58. The company has a market cap of $87.02 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 2.35 and a beta of 1.24. 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 Co. has a 1 year low of $122.64 and a 1 year high of $166.35.
Emerson Electric Dividend Announcement
The firm also recently declared 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. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 14th. Emerson Electric’s payout ratio is 48.58%.
Insider Activity
In other news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on EMR shares. Wall Street Zen upgraded Emerson Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Emerson Electric in a research note on Friday, July 31st. Sanford C. Bernstein increased their target price on shares of Emerson Electric from $169.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Stephens lifted their price target on shares of Emerson Electric from $155.00 to $160.00 in a report on Thursday, August 6th. Finally, Barclays raised their target price on shares of Emerson Electric from $140.00 to $144.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Thirteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $167.83.
Check Out Our Latest Research Report on EMR
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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