Corient Private Wealth LP grew its stake in Emerson Electric Co. (NYSE:EMR – Free Report) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 887,786 shares of the industrial products company’s stock after acquiring an additional 25,381 shares during the period. Corient Private Wealth LP’s holdings in Emerson Electric were worth $127,086,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Basso Capital Management L.P. bought a new stake in Emerson Electric during the 4th quarter valued at $25,000. Allied Private Wealth LLC acquired a new position in shares of Emerson Electric in the 2nd quarter valued at $27,000. IFC & Insurance Marketing Inc. purchased a new position in Emerson Electric during the fourth quarter valued at $27,000. Motiv8 Investments LLC acquired a new position in shares of Emerson Electric during the 4th quarter worth approximately $27,000. Finally, Orion Capital Management LLC acquired a new stake in Emerson Electric during the second quarter worth $29,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.
Emerson Electric Price Performance
EMR opened at $152.07 on Friday. The company has a fifty day simple moving average of $150.39 and a 200 day simple moving average of $143.50. Emerson Electric Co. has a twelve month low of $122.64 and a twelve month high of $166.35. The firm has a market cap of $85.17 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 2.23 and a beta of 1.24. The company has a current ratio of 0.90, a quick ratio of 0.66 and a debt-to-equity ratio of 0.37.
Emerson Electric Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Friday, August 14th were given a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 14th. Emerson Electric’s payout ratio is currently 48.58%.
Insider Activity at Emerson Electric
In other news, CEO Surendralal Karsanbhai sold 9,650 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $161.91, for a total value of $1,562,431.50. Following the sale, the chief executive officer owned 271,743 shares in the company, valued at approximately $43,997,909.13. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.23% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of brokerages recently weighed in on EMR. Stephens lifted their price objective on shares of Emerson Electric from $155.00 to $160.00 in a report on Thursday, August 6th. Daiwa Securities Group cut their price target on Emerson Electric from $177.00 to $156.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. DA Davidson increased their price target on shares of Emerson Electric from $145.00 to $155.00 and gave the stock a “neutral” rating in a research note on Monday, August 24th. Evercore lowered their price objective on shares of Emerson Electric from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Monday, August 31st. Finally, KeyCorp reduced their target price on shares of Emerson Electric from $185.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Thirteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $167.83.
View Our Latest Analysis on Emerson Electric
About Emerson Electric
Emerson Electric Co is a global technology and engineering company that provides automation, control and software solutions for industrial customers. Its offerings help organizations monitor, manage and optimize operations, improve safety and reliability, and reduce energy use and emissions across complex facilities and production environments.
The company’s portfolio includes process control systems, industrial software, measurement and analytical instruments, control valves, regulators, industrial computers and related automation technologies.
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