Knights of Columbus Asset Advisors LLC decreased its stake in Emerson Electric Co. (NYSE:EMR – Free Report) by 48.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,240 shares of the industrial products company’s stock after selling 11,359 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Emerson Electric were worth $1,606,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of EMR. Darwin Wealth Management LLC purchased a new position in shares of Emerson Electric during the 2nd quarter valued at $29,000. Winnow Wealth LLC bought a new stake in Emerson Electric in the 2nd quarter valued at about $34,000. Traub Capital Management LLC bought a new position in Emerson Electric during the second quarter worth about $37,000. Princeton Global Asset Management LLC purchased a new position in shares of Emerson Electric in the second quarter worth about $38,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Emerson Electric during the 2nd quarter valued at approximately $39,000. 74.30% of the stock is owned by institutional investors.
Emerson Electric Stock Down 2.4%
Shares of NYSE EMR opened at $147.04 on Friday. 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 business has a 50-day moving average of $139.49 and a 200-day moving average of $135.92. The firm has a market capitalization of $82.68 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 2.44 and a beta of 1.26. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $152.50.
Emerson Electric announced that its board has authorized a stock repurchase program on Wednesday, November 5th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
Emerson Electric Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th were given a dividend of $0.555 per share. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, November 14th. This represents a $2.22 annualized dividend and a dividend yield of 1.5%. Emerson Electric’s dividend payout ratio is currently 54.95%.
Insider Buying and Selling
In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of Emerson Electric stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on EMR shares. Wells Fargo & Company lifted their price objective 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. Evercore ISI assumed coverage on Emerson Electric in a research note on Monday, December 15th. They set an “outperform” rating and a $170.00 price objective on the stock. Wolfe Research raised their target price on Emerson Electric from $168.00 to $172.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Jefferies Financial Group upped their price target on Emerson Electric from $145.00 to $150.00 and gave the company a “hold” rating in a research report on Thursday, January 15th. Finally, Barclays raised their price objective on shares of Emerson Electric from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Ten investment 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’s stock. According to MarketBeat, Emerson Electric presently has an average rating of “Hold” and a consensus price target of $154.76.
Get Our Latest Research 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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