Cahill Financial Advisors Inc. acquired a new stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) during the third quarter, Holdings Channel.com reports. The firm acquired 6,273 shares of the industrial products company’s stock, valued at approximately $823,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Pittenger & Anderson Inc. grew its holdings in shares of Emerson Electric by 0.4% in the third quarter. Pittenger & Anderson Inc. now owns 37,909 shares of the industrial products company’s stock worth $4,973,000 after purchasing an additional 149 shares during the last quarter. Banyan Capital Management Inc. bought a new stake in Emerson Electric during the third quarter valued at about $545,000. Foundations Investment Advisors LLC grew its position in shares of Emerson Electric by 11.2% in the 3rd quarter. Foundations Investment Advisors LLC now owns 81,505 shares of the industrial products company’s stock worth $10,692,000 after buying an additional 8,237 shares during the last quarter. LRI Investments LLC grew its holdings in Emerson Electric by 6.3% in the third quarter. LRI Investments LLC now owns 5,486 shares of the industrial products company’s stock worth $720,000 after purchasing an additional 327 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its position in shares of Emerson Electric by 91.4% in the 3rd quarter. Fidelis Capital Partners LLC now owns 16,492 shares of the industrial products company’s stock valued at $2,163,000 after purchasing an additional 7,877 shares during the last quarter. 74.30% of the stock is owned by institutional investors.
Emerson Electric Stock Down 2.4%
Emerson Electric stock opened at $147.04 on Friday. The stock’s fifty day simple moving average is $139.49 and its 200-day simple moving average is $135.95. 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 firm has a market capitalization of $82.68 billion, a P/E ratio of 36.40, a P/E/G ratio of 2.44 and a beta of 1.26. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $152.50.
Emerson Electric declared that its Board of Directors has initiated a share repurchase program on Wednesday, November 5th that allows the company to buyback $0.00 in shares. This buyback authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Emerson Electric Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th were issued a $0.555 dividend. The ex-dividend date of this dividend was Friday, November 14th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.5%. 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 the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $133.00, for a total transaction of $965,979.00. Following the transaction, the chief executive officer directly owned 196,292 shares in the company, valued at $26,106,836. The trade was a 3.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.23% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on EMR shares. Wells Fargo & Company increased their price target on shares of Emerson Electric from $140.00 to $145.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Emerson Electric in a research report on Wednesday, January 21st. Wolfe Research upped their target price on shares of Emerson Electric from $168.00 to $172.00 and gave the stock an “outperform” rating in a report on Thursday, January 15th. Robert W. Baird boosted their price objective on Emerson Electric from $143.00 to $164.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. Finally, Barclays boosted their target price on shares of Emerson Electric from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Ten analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $154.76.
Read Our Latest Analysis 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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