King Luther Capital Management Corp lessened its holdings in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,993,003 shares of the industrial products company’s stock after selling 21,195 shares during the period. Emerson Electric makes up approximately 1.1% of King Luther Capital Management Corp’s holdings, making the stock its 21st largest position. King Luther Capital Management Corp owned 0.35% of Emerson Electric worth $264,511,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the business. Ares Financial Consulting LLC bought a new stake in shares of Emerson Electric in the fourth quarter valued at approximately $29,000. Darwin Wealth Management LLC bought a new position in Emerson Electric during the second quarter worth $29,000. Steph & Co. acquired a new position in Emerson Electric during the 4th quarter valued at $33,000. Wealth Watch Advisors INC bought a new stake in Emerson Electric in the 3rd quarter valued at $33,000. Finally, Strategic Wealth Advisors LLC acquired a new stake in Emerson Electric in the 4th quarter worth $41,000. 74.30% of the stock is owned by institutional investors.
Emerson Electric Stock Up 3.3%
NYSE EMR opened at $140.99 on Wednesday. Emerson Electric Co. has a 1-year low of $117.16 and a 1-year high of $165.15. The company has a market capitalization of $78.97 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 2.18 and a beta of 1.26. The stock’s 50 day moving average is $136.67 and its two-hundred day moving average is $139.40. The company has a current ratio of 0.87, a quick ratio of 0.64 and a debt-to-equity ratio of 0.37.
Emerson Electric Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be paid a $0.555 dividend. This represents a $2.22 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, May 15th. Emerson Electric’s payout ratio is currently 51.27%.
Wall Street Analysts Forecast Growth
EMR has been the subject of a number of research analyst reports. 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 research report on Wednesday, April 8th. Daiwa Securities Group decreased their target price on Emerson Electric from $177.00 to $156.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. Stephens upped their price target on Emerson Electric from $145.00 to $155.00 and gave the company an “equal weight” rating in a report on Monday, February 9th. Barclays raised their price objective on Emerson Electric from $140.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft cut Emerson Electric from a “buy” rating to a “hold” rating and set a $170.00 price objective on the stock. in a research report on Thursday, February 5th. Twelve analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Emerson Electric currently has an average rating of “Hold” and an average price target of $163.24.
View Our Latest Stock Report on Emerson Electric
Insider Buying and Selling at Emerson Electric
In other news, CEO Surendralal Lanca Karsanbhai sold 5,700 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $142.32, for a total value of $811,224.00. Following the sale, the chief executive officer owned 281,393 shares of the company’s stock, valued at approximately $40,047,851.76. This represents a 1.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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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