Royal Bank of Canada decreased its holdings in Emerson Electric Co. (NYSE:EMR – Free Report) by 10.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,270,471 shares of the industrial products company’s stock after selling 262,087 shares during the quarter. Royal Bank of Canada owned approximately 0.41% of Emerson Electric worth $297,477,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Basso Capital Management L.P. bought a new stake in shares of Emerson Electric in the fourth quarter worth $25,000. IFC & Insurance Marketing Inc. bought a new stake in shares of Emerson Electric in the 4th quarter worth about $27,000. Motiv8 Investments LLC bought a new position in shares of Emerson Electric during the fourth quarter worth about $27,000. Ares Financial Consulting LLC acquired a new position in Emerson Electric in the fourth quarter worth about $29,000. Finally, Darwin Wealth Management LLC bought a new stake in Emerson Electric in the second quarter valued at about $29,000. 74.30% of the stock is owned by institutional investors and hedge funds.
Emerson Electric Stock Down 4.0%
Shares of Emerson Electric stock opened at $145.81 on Thursday. The stock has a market capitalization of $81.67 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 2.43 and a beta of 1.25. Emerson Electric Co. has a twelve month low of $122.64 and a twelve month high of $165.15. The company has a current ratio of 0.87, a quick ratio of 0.64 and a debt-to-equity ratio of 0.37. The business’s 50 day simple moving average is $141.83 and its 200-day simple moving average is $142.17.
Emerson Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, May 15th. Emerson Electric’s dividend payout ratio (DPR) is 51.27%.
Analysts Set New Price Targets
A number of research analysts have commented on the company. Wolfe Research reduced their target price on Emerson Electric from $176.00 to $169.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. KeyCorp dropped their price target on Emerson Electric from $185.00 to $170.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Wells Fargo & Company lifted their price objective on shares of Emerson Electric from $135.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Barclays boosted their target price on shares of Emerson Electric from $140.00 to $144.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Sanford C. Bernstein reduced their price target on shares of Emerson Electric from $175.00 to $169.00 and set an “outperform” rating on the stock in a research report on Monday, July 20th. 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 stock. Based on data from MarketBeat, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.36.
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.
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