HighTower Advisors LLC lifted its holdings in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 695,266 shares of the industrial products company’s stock after acquiring an additional 36,111 shares during the period. HighTower Advisors LLC owned 0.12% of Emerson Electric worth $91,206,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in EMR. Darwin Wealth Management LLC acquired a new stake in Emerson Electric in the second quarter valued at $29,000. Winnow Wealth LLC acquired a new stake in Emerson Electric during the 2nd quarter valued at $34,000. Traub Capital Management LLC acquired a new position in Emerson Electric in the 2nd quarter valued at about $37,000. Princeton Global Asset Management LLC purchased a new position in shares of Emerson Electric during the second quarter valued at approximately $38,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Emerson Electric during the second quarter worth $39,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.
Emerson Electric Trading Up 2.3%
Shares of NYSE:EMR opened at $148.35 on Monday. The firm has a fifty day moving average price of $143.65 and a 200 day moving average price of $136.42. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 0.37. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $165.15. The stock has a market capitalization of $83.37 billion, a PE ratio of 36.27, a P/E/G ratio of 2.35 and a beta of 1.26.
Emerson Electric Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be given a dividend of $0.555 per share. The ex-dividend date is Friday, February 13th. This represents a $2.22 dividend on an annualized basis and a yield of 1.5%. Emerson Electric’s dividend payout ratio is 54.28%.
Emerson Electric declared that its board has approved a share buyback program 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. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
Several equities research analysts have commented on EMR shares. Oppenheimer restated a “market perform” rating on shares of Emerson Electric in a research note on Tuesday, January 27th. KeyCorp boosted their price objective on Emerson Electric from $155.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. UBS Group upgraded Emerson Electric from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $131.00 to $168.00 in a research report on Monday, January 5th. Deutsche Bank Aktiengesellschaft cut shares of Emerson Electric from a “buy” rating to a “hold” rating and set a $170.00 target price on the stock. in a report on Thursday, February 5th. Finally, Robert W. Baird boosted their price objective on Emerson Electric from $143.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. Eleven equities 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’s stock. Based on data from MarketBeat.com, Emerson Electric has a consensus rating of “Hold” and a consensus target price of $164.90.
View Our Latest Analysis on Emerson Electric
Insider Activity at Emerson Electric
In other Emerson Electric news, Director Matthew S. Levatich sold 1,476 shares of the business’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 completion of the sale, the director directly owned 24,349 shares of the company’s stock, valued at approximately $3,948,433.84. The trade was a 5.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Nicholas J. Piazza sold 6,703 shares of the firm’s 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 completion of the transaction, the vice president owned 31,664 shares in the company, valued at $5,036,792.48. This represents a 17.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 15,442 shares of company stock valued at $2,271,573 over the last ninety days. 0.23% of the stock is owned by insiders.
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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