Bessemer Group Inc. Raises Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Bessemer Group Inc. raised its position in shares of Emerson Electric Co. (NYSE:EMRFree Report) by 21.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,030 shares of the industrial products company’s stock after acquiring an additional 5,047 shares during the period. Bessemer Group Inc.’s holdings in Emerson Electric were worth $3,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Spire Wealth Management raised its holdings in shares of Emerson Electric by 1.7% during the 1st quarter. Spire Wealth Management now owns 6,947 shares of the industrial products company’s stock worth $762,000 after acquiring an additional 114 shares in the last quarter. Mattern Capital Management LLC raised its holdings in shares of Emerson Electric by 0.9% during the 1st quarter. Mattern Capital Management LLC now owns 79,288 shares of the industrial products company’s stock worth $8,693,000 after acquiring an additional 730 shares in the last quarter. Golden State Equity Partners purchased a new position in shares of Emerson Electric in the 1st quarter worth approximately $459,000. Fourth Dimension Wealth LLC boosted its holdings in shares of Emerson Electric by 145.3% in the 1st quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 154 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Emerson Electric by 5.3% in the 1st quarter. International Assets Investment Management LLC now owns 4,258 shares of the industrial products company’s stock worth $467,000 after purchasing an additional 216 shares during the period. 74.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Emerson Electric

In related news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $113.33, for a total transaction of $1,892,384.34. Following the transaction, the chief executive officer now directly owns 164,957 shares of the company’s stock, valued at $18,694,576.81. This represents a 9.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup lifted their target price on Emerson Electric from $133.00 to $146.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Royal Bank Of Canada lifted their target price on Emerson Electric from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. KeyCorp lifted their target price on Emerson Electric from $125.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, June 13th. Wall Street Zen upgraded Emerson Electric from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Finally, Wells Fargo & Company boosted their price objective on Emerson Electric from $121.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Emerson Electric presently has a consensus rating of “Moderate Buy” and an average price target of $136.47.

View Our Latest Stock Analysis on EMR

Emerson Electric Price Performance

Shares of EMR stock opened at $133.16 on Friday. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $134.85. The stock has a market capitalization of $74.90 billion, a price-to-earnings ratio of 31.86, a P/E/G ratio of 2.62 and a beta of 1.28. The stock has a fifty day simple moving average of $118.27 and a two-hundred day simple moving average of $118.24. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.42.

Emerson Electric (NYSE:EMRGet Free Report) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.41 by $0.07. The firm had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.42 billion. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 EPS. On average, analysts predict that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Friday, May 16th. Emerson Electric’s payout ratio is 50.48%.

About Emerson Electric

(Free Report)

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.

Further Reading

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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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