OneDigital Investment Advisors LLC bought a new position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,951 shares of the industrial products company’s stock, valued at approximately $1,997,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Emerson Electric in the 4th quarter worth approximately $1,050,040,000. Bank of New York Mellon Corp bought a new stake in Emerson Electric during the second quarter worth approximately $659,000,000. Bank of America Corp DE increased its holdings in shares of Emerson Electric by 13.1% in the first quarter. Bank of America Corp DE now owns 19,941,844 shares of the industrial products company’s stock valued at $2,612,780,000 after buying an additional 2,302,055 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Emerson Electric by 95.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,207,707 shares of the industrial products company’s stock worth $289,262,000 after acquiring an additional 1,079,665 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Emerson Electric by 14.8% during the fourth quarter. Fisher Asset Management LLC now owns 7,191,118 shares of the industrial products company’s stock worth $954,405,000 after purchasing an additional 928,548 shares during the period. 74.30% of the stock is owned by institutional investors and hedge funds.
Emerson Electric Trading Down 0.7%
Shares of NYSE:EMR opened at $162.06 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.66 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $90.77 billion, a PE ratio of 35.46, a P/E/G ratio of 2.43 and a beta of 1.24. Emerson Electric Co. has a 1 year low of $122.64 and a 1 year high of $166.35. The firm has a fifty day moving average price of $146.78 and a 200 day moving average price of $143.19.
Emerson Electric Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be given a $0.555 dividend. This represents a $2.22 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 14th. Emerson Electric’s dividend payout ratio is currently 48.58%.
Insider Activity
In other Emerson Electric news, CEO Surendralal Lanca 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 directly owned 271,743 shares in the company, valued at $43,997,909.13. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.23% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have commented on EMR. BNP Paribas Exane upped their price objective on shares of Emerson Electric from $180.00 to $185.00 in a research note on Thursday, August 6th. Stephens boosted their price target on shares of Emerson Electric from $155.00 to $160.00 in a report on Thursday, August 6th. Sanford C. Bernstein raised their price objective on shares of Emerson Electric from $169.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup boosted their target price on shares of Emerson Electric from $174.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen upgraded Emerson Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Thirteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.96.
View Our Latest Analysis on Emerson Electric
About Emerson Electric
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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