Massachusetts Financial Services Co. MA decreased its holdings in Emerson Electric Co. (NYSE:EMR – Free Report) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,188,332 shares of the industrial products company’s stock after selling 21,727 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Emerson Electric were worth $287,065,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC acquired a new stake in Emerson Electric during the 2nd quarter valued at $29,000. Winnow Wealth LLC bought a new position in shares of Emerson Electric in the second quarter valued at about $34,000. PFS Partners LLC lifted 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 stake in shares of Emerson Electric during the 2nd quarter worth about $37,000. Finally, Princeton Global Asset Management LLC bought a new position in Emerson Electric in the 2nd quarter valued at about $38,000. 74.30% of the stock is owned by institutional investors and hedge funds.
Emerson Electric Stock Up 1.0%
Shares of NYSE EMR opened at $149.47 on Tuesday. The stock has a market capitalization of $84.05 billion, a P/E ratio of 37.00, a PEG ratio of 2.42 and a beta of 1.26. The stock’s fifty day moving average is $135.80 and its 200 day moving average is $135.32. 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.
Emerson Electric Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were given a dividend of $0.555 per share. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.22 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, November 14th. Emerson Electric’s dividend payout ratio (DPR) is presently 54.95%.
Emerson Electric declared that its board has initiated a share buyback plan on Wednesday, November 5th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
Analyst Ratings Changes
EMR has been the topic of several research reports. Barclays upped their target price on Emerson Electric from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. JPMorgan Chase & Co. upped their price objective on Emerson Electric from $150.00 to $157.00 and gave the company a “neutral” rating in a report on Friday. Deutsche Bank Aktiengesellschaft lifted their target price on Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Wells Fargo & Company upped their price target on shares of Emerson Electric from $140.00 to $145.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Emerson Electric in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $154.76.
Get Our Latest Stock Analysis on EMR
Insiders Place Their Bets
In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $133.00, for a total value of $965,979.00. Following the sale, the chief executive officer owned 196,292 shares of the company’s stock, valued at approximately $26,106,836. This trade represents a 3.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by insiders.
Emerson Electric 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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