Canada Pension Plan Investment Board bought a new stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 217,558 shares of the industrial products company’s stock, valued at approximately $31,143,000.
A number of other institutional investors have also recently bought and sold shares of EMR. Basso Capital Management L.P. acquired a new stake in shares of Emerson Electric during the 4th quarter valued at about $25,000. Allied Private Wealth LLC acquired a new position in Emerson Electric in the second quarter worth approximately $27,000. IFC & Insurance Marketing Inc. bought a new position in Emerson Electric during the fourth quarter valued at approximately $27,000. Motiv8 Investments LLC acquired a new stake in Emerson Electric in the fourth quarter valued at approximately $27,000. Finally, Clal Insurance Enterprises Holdings Ltd bought a new stake in Emerson Electric in the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.
Emerson Electric Price Performance
NYSE EMR opened at $155.37 on Friday. The stock has a 50-day simple moving average of $148.79 and a 200 day simple moving average of $143.58. Emerson Electric Co. has a twelve month low of $122.64 and a twelve month high of $166.35. The stock has a market capitalization of $87.02 billion, a PE ratio of 34.00, a P/E/G ratio of 2.35 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.66 and a current ratio of 0.90.
Emerson Electric Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a $0.555 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.22 dividend on an annualized basis and a yield of 1.4%. Emerson Electric’s dividend payout ratio is 48.58%.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Emerson Electric from $135.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Sanford C. Bernstein increased their target price on shares of Emerson Electric from $169.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. DA Davidson raised their target price on Emerson Electric from $145.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, August 24th. Wall Street Zen upgraded Emerson Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, BNP Paribas Exane increased their price objective on Emerson Electric from $180.00 to $185.00 in a report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $167.83.
Check Out Our Latest Analysis on EMR
Insider Activity
In other news, CEO Surendralal Lanca Karsanbhai sold 9,650 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $161.91, for a total transaction of $1,562,431.50. Following the completion of the transaction, the chief executive officer owned 271,743 shares of the company’s stock, valued at approximately $43,997,909.13. This represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.
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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