Mirae Asset Global Investments Co. Ltd. Has $7.39 Million Stake in Emerson Electric Co. (EMR)
Mirae Asset Global Investments Co. Ltd. grew its stake in Emerson Electric Co. (NYSE:EMR) by 1,328.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,475 shares of the industrial products company’s stock after acquiring an additional 89,719 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Emerson Electric were worth $7,389,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Emerson Electric during the 2nd quarter worth $102,000. Tradewinds Capital Management LLC grew its stake in Emerson Electric by 584.1% during the 3rd quarter. Tradewinds Capital Management LLC now owns 1,416 shares of the industrial products company’s stock worth $108,000 after buying an additional 1,209 shares during the last quarter. Sun Life Financial INC grew its stake in Emerson Electric by 761.6% during the 2nd quarter. Sun Life Financial INC now owns 1,706 shares of the industrial products company’s stock worth $118,000 after buying an additional 1,508 shares during the last quarter. Fort L.P. purchased a new position in Emerson Electric during the 2nd quarter worth $118,000. Finally, BDO Wealth Advisors LLC grew its stake in Emerson Electric by 320.6% during the 2nd quarter. BDO Wealth Advisors LLC now owns 1,834 shares of the industrial products company’s stock worth $127,000 after buying an additional 1,398 shares during the last quarter. Institutional investors and hedge funds own 70.55% of the company’s stock.
NYSE:EMR opened at $65.65 on Thursday. Emerson Electric Co. has a 12 month low of $64.55 and a 12 month high of $79.70. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The company has a market cap of $41.11 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 2.01 and a beta of 1.21.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be paid a dividend of $0.49 per share. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.49. This represents a $1.96 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, November 15th. Emerson Electric’s payout ratio is 57.99%.
Several research analysts recently weighed in on the company. Stephens assumed coverage on Emerson Electric in a research note on Monday, November 19th. They set an “overweight” rating and a $80.00 target price on the stock. Berenberg Bank set a $67.00 target price on Emerson Electric and gave the stock a “hold” rating in a research note on Monday, November 19th. Zacks Investment Research downgraded Emerson Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, November 13th. Robert W. Baird dropped their target price on Emerson Electric from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, November 12th. Finally, William Blair restated a “market perform” rating on shares of Emerson Electric in a research note on Tuesday, November 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $78.39.
In other news, insider Surendralal Lanca Karsanbhai sold 9,070 shares of the company’s stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $68.00, for a total value of $616,760.00. Following the completion of the sale, the insider now directly owns 20,000 shares in the company, valued at $1,360,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Edward L. Monser sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $76.10, for a total value of $4,566,000.00. Following the completion of the sale, the president now owns 176,477 shares of the company’s stock, valued at $13,429,899.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,070 shares of company stock valued at $7,457,960. 0.79% of the stock is owned by company insiders.
About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.
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