DNB Asset Management AS decreased its stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 7.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 859,507 shares of the industrial products company’s stock after selling 64,577 shares during the quarter. DNB Asset Management AS’s holdings in Emerson Electric were worth $112,750,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Darwin Wealth Management LLC acquired a new stake in shares of Emerson Electric during the 2nd quarter valued at about $29,000. Winnow Wealth LLC bought a new position in Emerson Electric during the second quarter worth about $34,000. Traub Capital Management LLC bought a new stake in shares of Emerson Electric in the 2nd quarter valued at approximately $37,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Emerson Electric in the 2nd quarter worth approximately $39,000. Finally, Financial Consulate Inc. bought a new position in shares of Emerson Electric during the 3rd quarter worth approximately $41,000. Institutional investors own 74.30% of the company’s stock.
Emerson Electric Stock Performance
Shares of Emerson Electric stock opened at $152.69 on Friday. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $165.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.62 and a current ratio of 0.84. The stock has a market capitalization of $85.81 billion, a price-to-earnings ratio of 37.33, a PEG ratio of 2.36 and a beta of 1.26. The firm has a fifty day moving average of $146.18 and a two-hundred day moving average of $137.14.
Emerson Electric Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be paid a $0.555 dividend. This represents a $2.22 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, February 13th. Emerson Electric’s dividend payout ratio is presently 54.28%.
Emerson Electric announced that its board 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 repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on EMR shares. Evercore raised their price target on Emerson Electric from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Wells Fargo & Company lifted their price target on Emerson Electric from $145.00 to $160.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. Weiss Ratings lowered shares of Emerson Electric from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 4th. Citigroup boosted their target price on shares of Emerson Electric from $165.00 to $174.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Finally, HSBC increased their price target on shares of Emerson Electric from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Eleven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $164.90.
Insiders Place Their Bets
In other Emerson Electric news, VP Nicholas J. Piazza sold 6,703 shares of Emerson Electric stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $159.07, for a total transaction of $1,066,246.21. Following the transaction, the vice president directly owned 31,664 shares in the company, valued at approximately $5,036,792.48. The trade was a 17.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $133.00, for a total value 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 15,442 shares of company stock worth $2,271,573. Company insiders own 0.23% of the company’s stock.
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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