First Trust Advisors LP reduced its stake in Emerson Electric Co. (NYSE:EMR – Free Report) by 11.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 482,159 shares of the industrial products company’s stock after selling 65,210 shares during the period. First Trust Advisors LP owned approximately 0.09% of Emerson Electric worth $63,250,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new stake in shares of Emerson Electric during the 2nd quarter worth $29,000. Winnow Wealth LLC acquired a new position in Emerson Electric in the second quarter valued at about $34,000. Traub Capital Management LLC bought a new stake in Emerson Electric during the second quarter worth about $37,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Emerson Electric during the second quarter worth about $39,000. Finally, Financial Consulate Inc. bought a new position in Emerson Electric in the 3rd quarter valued at about $41,000. Institutional investors own 74.30% of the company’s stock.
Emerson Electric Stock Performance
Shares of Emerson Electric stock opened at $140.34 on Wednesday. The company’s 50 day moving average price is $147.67 and its two-hundred day moving average price is $137.89. The firm has a market capitalization of $78.87 billion, a P/E ratio of 34.31, a P/E/G ratio of 2.25 and a beta of 1.24. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $165.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.62.
Emerson Electric Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 13th were paid a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, February 13th. Emerson Electric’s dividend payout ratio (DPR) is presently 54.28%.
Insider Activity
In related news, Director Matthew S. Levatich sold 1,476 shares of Emerson Electric stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $162.16, for a total transaction of $239,348.16. Following the sale, the director directly owned 24,349 shares in the company, valued at $3,948,433.84. This trade represents a 5.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Nicholas J. Piazza sold 6,703 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $159.07, for a total transaction of $1,066,246.21. Following the completion of the transaction, the vice president owned 31,664 shares of the company’s stock, valued at approximately $5,036,792.48. This trade represents a 17.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.23% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Emerson Electric from $165.00 to $174.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Rothschild & Co Redburn boosted their price objective on shares of Emerson Electric from $154.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Oppenheimer restated a “market perform” rating on shares of Emerson Electric in a research note on Tuesday, January 27th. UBS Group upgraded Emerson Electric from a “neutral” rating to a “buy” rating and lifted their price target for the company from $131.00 to $168.00 in a research note on Monday, January 5th. Finally, JPMorgan Chase & Co. upped their price objective on Emerson Electric from $150.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Eleven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Emerson Electric has a consensus rating of “Hold” and an average target price of $164.85.
Read Our Latest Stock Analysis on Emerson Electric
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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