Acute Investment Advisory LLC acquired a new stake in Emerson Electric Co. (NYSE:EMR – Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 12,020 shares of the industrial products company’s stock, valued at approximately $1,577,000. Emerson Electric makes up approximately 13.2% of Acute Investment Advisory LLC’s holdings, making the stock its 3rd largest position.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new position in Emerson Electric during the second quarter worth $29,000. Winnow Wealth LLC bought a new stake in Emerson Electric during the 2nd quarter worth about $34,000. PFS Partners LLC boosted its stake in shares of Emerson Electric by 65.9% during the 2nd quarter. PFS Partners LLC now owns 272 shares of the industrial products company’s stock worth $36,000 after buying an additional 108 shares during the last quarter. Traub Capital Management LLC bought a new position in shares of Emerson Electric in the 2nd quarter valued at about $37,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Emerson Electric in the second quarter valued at about $38,000. 74.30% of the stock is currently owned by institutional investors.
Emerson Electric Trading Up 1.0%
Shares of Emerson Electric stock opened at $149.47 on Friday. The stock has a market cap of $84.05 billion, a PE ratio of 37.00, a PEG ratio of 2.42 and a beta of 1.26. Emerson Electric Co. has a 52-week low of $90.06 and a 52-week high of $151.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.65 and a current ratio of 0.88. The firm has a 50-day moving average of $135.41 and a 200-day moving average of $135.25.
Emerson Electric announced that its Board of Directors has approved a share buyback plan on Wednesday, November 5th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Emerson Electric Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 14th were given a dividend of $0.555 per share. The ex-dividend date was Friday, November 14th. This represents a $2.22 dividend on an annualized basis and a yield of 1.5%. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio is presently 54.95%.
Insider Buying and Selling
In other news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of Emerson Electric stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $133.00, for a total transaction of $965,979.00. Following the sale, the chief executive officer directly owned 196,292 shares of the company’s stock, valued at approximately $26,106,836. This trade represents a 3.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.
Analysts Set New Price Targets
EMR has been the topic of several recent analyst reports. Wolfe Research boosted their price target on Emerson Electric from $168.00 to $172.00 and gave the stock an “outperform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Emerson Electric from $157.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Robert W. Baird boosted their price target on Emerson Electric from $143.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday. UBS Group upgraded Emerson Electric from a “neutral” rating to a “buy” rating and upped their price objective for the company from $131.00 to $168.00 in a research note on Monday, January 5th. Finally, JPMorgan Chase & Co. lifted their target price on Emerson Electric from $150.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $154.76.
View Our Latest Stock Report on EMR
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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