Massachusetts Financial Services Co. MA lessened its holdings in Emerson Electric Co. (NYSE:EMR – Free Report) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,188,332 shares of the industrial products company’s stock after selling 21,727 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.39% of Emerson Electric worth $287,065,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of EMR. Darwin Wealth Management LLC acquired a new stake in Emerson Electric during the 2nd quarter worth $29,000. Winnow Wealth LLC bought a new position in shares of Emerson Electric in the 2nd quarter worth $34,000. PFS Partners LLC increased its holdings in Emerson Electric by 65.9% in the second quarter. PFS Partners LLC now owns 272 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 108 shares during the last quarter. Traub Capital Management LLC acquired a new position in Emerson Electric in the second quarter valued at about $37,000. Finally, Princeton Global Asset Management LLC bought a new position in Emerson Electric during the second quarter worth about $38,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.
Emerson Electric Stock Up 1.0%
Emerson Electric stock opened at $149.47 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.65 and a debt-to-equity ratio of 0.41. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $151.34. The company has a fifty day simple moving average of $135.80 and a 200 day simple moving average of $135.32. The company has a market cap of $84.05 billion, a P/E ratio of 37.00, a price-to-earnings-growth ratio of 2.42 and a beta of 1.26.
Emerson Electric Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were given a dividend of $0.555 per share. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.22 annualized dividend and a dividend yield of 1.5%. Emerson Electric’s payout ratio is presently 54.95%.
Emerson Electric declared that its board has authorized a stock repurchase program on Wednesday, November 5th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Analysts Set New Price Targets
A number of brokerages have recently commented on EMR. UBS Group raised Emerson Electric from a “neutral” rating to a “buy” rating and upped their price target for the company from $131.00 to $168.00 in a research note on Monday, January 5th. Barclays boosted their price objective on shares of Emerson Electric from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Daiwa Capital Markets boosted their price target on shares of Emerson Electric from $150.00 to $153.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Finally, TD Cowen downgraded Emerson Electric from a “buy” rating to a “hold” rating and set a $150.00 price objective on the stock. in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $154.76.
Get Our Latest Stock Analysis on Emerson Electric
Insider Activity at Emerson Electric
In related news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $133.00, for a total value of $965,979.00. Following the completion of the transaction, the chief executive officer directly owned 196,292 shares of the company’s stock, valued at approximately $26,106,836. This trade represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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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