Jefferies Financial Group Inc. purchased a new stake in Emerson Electric Co. (NYSE:EMR – Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 22,083 shares of the industrial products company’s stock, valued at approximately $2,931,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new position in Emerson Electric in the 2nd quarter valued at about $29,000. Ares Financial Consulting LLC purchased a new position in Emerson Electric in the 4th quarter valued at about $29,000. Steph & Co. acquired a new stake in Emerson Electric in the 4th quarter valued at about $33,000. Wealth Watch Advisors INC acquired a new stake in Emerson Electric in the 3rd quarter valued at about $33,000. Finally, Strategic Wealth Advisors LLC acquired a new stake in Emerson Electric in the 4th quarter valued at about $41,000. 74.30% of the stock is owned by hedge funds and other institutional investors.
Emerson Electric Stock Up 3.3%
Shares of NYSE EMR opened at $140.99 on Wednesday. The company has a 50 day simple moving average of $136.67 and a 200-day simple moving average of $139.40. The company has a market capitalization of $78.97 billion, a P/E ratio of 32.56, a P/E/G ratio of 2.18 and a beta of 1.26. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.87 and a quick ratio of 0.64. Emerson Electric Co. has a 1 year low of $117.16 and a 1 year high of $165.15.
Emerson Electric Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.555 per share. The ex-dividend date is Friday, May 15th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.6%. Emerson Electric’s dividend payout ratio (DPR) is currently 51.27%.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Daiwa Securities Group cut their price objective on shares of Emerson Electric from $177.00 to $156.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Jefferies Financial Group assumed coverage on shares of Emerson Electric in a report on Tuesday, March 31st. They issued a “buy” rating and a $175.00 price objective for the company. Wolfe Research cut their price objective on shares of Emerson Electric from $176.00 to $169.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Barclays increased their price objective on shares of Emerson Electric from $140.00 to $144.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Emerson Electric in a report on Tuesday, January 27th. Twelve investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $163.24.
Read Our Latest Research Report on EMR
Insider Activity
In other news, CEO Surendralal Lanca Karsanbhai sold 5,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $142.32, for a total transaction of $811,224.00. Following the completion of the sale, the chief executive officer owned 281,393 shares in the company, valued at $40,047,851.76. This trade represents a 1.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by corporate 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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