Bank of New York Mellon Corp grew its stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 29.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,260,097 shares of the industrial products company’s stock after buying an additional 1,187,974 shares during the quarter. Bank of New York Mellon Corp’s holdings in Emerson Electric were worth $690,020,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in Emerson Electric by 74.1% during the 4th quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company’s stock valued at $1,412,000 after purchasing an additional 4,850 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Emerson Electric during the first quarter valued at about $232,000. Caxton Associates LLP bought a new stake in Emerson Electric in the first quarter worth about $275,000. Sivia Capital Partners LLC acquired a new stake in Emerson Electric in the 2nd quarter valued at about $203,000. Finally, Venture Visionary Partners LLC boosted its position in shares of Emerson Electric by 64.5% during the 2nd quarter. Venture Visionary Partners LLC now owns 5,848 shares of the industrial products company’s stock valued at $780,000 after purchasing an additional 2,294 shares in the last quarter. 74.30% of the stock is currently owned by institutional investors.
Emerson Electric Stock Performance
Shares of EMR stock opened at $148.54 on Thursday. The company has a market capitalization of $83.52 billion, a price-to-earnings ratio of 36.77, a P/E/G ratio of 2.39 and a beta of 1.26. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $151.74. The company has a current ratio of 0.88, a quick ratio of 0.65 and a debt-to-equity ratio of 0.41. The stock’s fifty day simple moving average is $138.57 and its 200-day simple moving average is $135.80.
Emerson Electric announced that its board has initiated a share repurchase plan on Wednesday, November 5th that permits the company to buyback $0.00 in shares. This buyback authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
Emerson Electric Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were paid a $0.555 dividend. The ex-dividend date was Friday, November 14th. This represents a $2.22 annualized dividend and a yield of 1.5%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio (DPR) is currently 54.95%.
Insider Activity
In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of Emerson Electric stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $133.00, for a total transaction of $965,979.00. Following the completion of the sale, the chief executive officer owned 196,292 shares of the company’s stock, valued at $26,106,836. This trade represents a 3.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on EMR shares. Jefferies Financial Group boosted their target price on shares of Emerson Electric from $145.00 to $150.00 and gave the stock a “hold” rating in a report on Thursday, January 15th. Morgan Stanley increased their price objective on Emerson Electric from $115.00 to $125.00 and gave the company an “underweight” rating in a research report on Friday, January 9th. Royal Bank Of Canada decreased their target price on Emerson Electric from $155.00 to $153.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Oppenheimer reaffirmed a “market perform” rating on shares of Emerson Electric in a report on Tuesday. Finally, Wells Fargo & Company lifted their price target on Emerson Electric from $140.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. Ten equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $154.76.
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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