AIA Group Ltd trimmed its position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 49.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,221 shares of the industrial products company’s stock after selling 19,530 shares during the quarter. AIA Group Ltd’s holdings in Emerson Electric were worth $2,653,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Emerson Electric by 0.4% during 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 acquiring an additional 201,040 shares during the period. State Street Corp lifted its holdings in Emerson Electric by 3.0% in the second quarter. State Street Corp now owns 27,053,019 shares of the industrial products company’s stock valued at $3,606,979,000 after acquiring an additional 784,987 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Emerson Electric by 75.0% during 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 purchasing an additional 5,371,585 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Emerson Electric by 13.5% during the 3rd quarter. Schroder Investment Management Group now owns 7,205,569 shares of the industrial products company’s stock worth $945,227,000 after purchasing an additional 859,171 shares during the period. Finally, Norges Bank purchased a new position in shares of Emerson Electric in the 2nd quarter valued at about $918,830,000. Institutional investors and hedge funds own 74.30% of the company’s stock.
Emerson Electric Stock Down 0.0%
Shares of NYSE EMR opened at $129.86 on Friday. The firm has a market cap of $72.98 billion, a P/E ratio of 31.75, a price-to-earnings-growth ratio of 2.07 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.62 and a current ratio of 0.84. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $165.15. The firm’s 50 day moving average price is $146.73 and its 200 day moving average price is $137.81.
Emerson Electric Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th were paid a dividend of $0.555 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.22 dividend on an annualized basis and a yield of 1.7%. Emerson Electric’s dividend payout ratio (DPR) is currently 54.28%.
Analysts Set New Price Targets
EMR has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their price objective on shares of Emerson Electric from $153.00 to $176.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Loop Capital lifted their price target on shares of Emerson Electric from $155.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. UBS Group raised Emerson Electric from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $131.00 to $168.00 in a research note on Monday, January 5th. JPMorgan Chase & Co. raised their price objective on Emerson Electric from $150.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, January 16th. Finally, HSBC lifted their price objective on Emerson Electric from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Eleven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Emerson Electric currently has a consensus rating of “Hold” and an average target price of $164.85.
Read Our Latest Stock Analysis on Emerson Electric
Insider Buying and Selling at Emerson Electric
In related news, VP Nicholas J. Piazza sold 6,703 shares of Emerson Electric stock in a transaction on Monday, February 9th. The stock was sold at an average price of $159.07, for a total value of $1,066,246.21. Following the transaction, the vice president owned 31,664 shares in the company, valued at approximately $5,036,792.48. This trade represents a 17.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew S. Levatich sold 1,476 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $162.16, for a total value of $239,348.16. Following the sale, the director directly owned 24,349 shares of the company’s stock, valued at approximately $3,948,433.84. This trade represents a 5.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,879 shares of company stock worth $2,116,818 in the last quarter. 0.23% of the stock is owned by insiders.
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.
Further Reading
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