Jones Financial Companies Lllp grew its holdings in Emerson Electric Co. (NYSE:EMR – Free Report) by 10.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 397,333 shares of the industrial products company’s stock after purchasing an additional 37,996 shares during the period. Jones Financial Companies Lllp’s holdings in Emerson Electric were worth $51,178,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Emerson Electric by 1.3% during the second quarter. Vanguard Group Inc. now owns 54,129,898 shares of the industrial products company’s stock worth $7,217,139,000 after acquiring an additional 695,105 shares in the last quarter. State Street Corp raised its stake in shares of Emerson Electric by 3.0% during the 2nd quarter. State Street Corp now owns 27,053,019 shares of the industrial products company’s stock valued at $3,606,979,000 after purchasing an additional 784,987 shares during the period. JPMorgan Chase & Co. lifted its holdings in Emerson Electric by 75.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,538,402 shares of the industrial products company’s stock worth $1,671,762,000 after purchasing an additional 5,371,585 shares in the last quarter. Geode Capital Management LLC boosted its stake in Emerson Electric by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 12,143,357 shares of the industrial products company’s stock worth $1,610,958,000 after purchasing an additional 89,192 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Emerson Electric by 19.5% during the second quarter. Nordea Investment Management AB now owns 9,195,005 shares of the industrial products company’s stock valued at $1,223,947,000 after buying an additional 1,499,000 shares during the period. 74.30% of the stock is owned by institutional investors.
Emerson Electric Trading Up 1.2%
Shares of EMR stock opened at $148.79 on Tuesday. The business has a 50-day moving average price of $139.89 and a two-hundred day moving average price of $135.92. Emerson Electric Co. has a 12-month low of $90.06 and a 12-month high of $152.50. The company has a quick ratio of 0.65, a current ratio of 0.88 and a debt-to-equity ratio of 0.41. The firm has a market cap of $83.66 billion, a P/E ratio of 36.83, a price-to-earnings-growth ratio of 2.38 and a beta of 1.26.
Emerson Electric declared that its Board of Directors has approved a share buyback program on Wednesday, November 5th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Emerson Electric Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 14th were given a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, November 14th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio is 54.95%.
Insider Transactions at Emerson Electric
In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the company’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 completion of the sale, the chief executive officer directly owned 196,292 shares in the company, valued at $26,106,836. This represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on EMR. JPMorgan Chase & Co. raised their price objective on shares of Emerson Electric from $150.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. Robert W. Baird raised their price target on shares of Emerson Electric from $143.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, January 16th. Barclays upped their price target on shares of Emerson Electric from $135.00 to $145.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. UBS Group raised Emerson Electric from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $131.00 to $168.00 in a research note on Monday, January 5th. Finally, Wolfe Research raised their price target on Emerson Electric from $168.00 to $172.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Ten analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $154.76.
View Our Latest Stock Analysis on Emerson Electric
Emerson Electric Company 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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