Cary Street Partners Investment Advisory LLC boosted its position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 30.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,616 shares of the industrial products company’s stock after acquiring an additional 1,089 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Emerson Electric were worth $417,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in EMR. Russell Investments Group Ltd. increased its holdings in shares of Emerson Electric by 55.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 369,684 shares of the industrial products company’s stock worth $33,355,000 after acquiring an additional 131,523 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Emerson Electric in the second quarter valued at $12,833,000. Viewpoint Capital Management LLC raised its position in shares of Emerson Electric by 17.5% in the second quarter. Viewpoint Capital Management LLC now owns 4,710 shares of the industrial products company’s stock valued at $426,000 after purchasing an additional 700 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Emerson Electric by 1.2% during the 2nd quarter. Private Advisor Group LLC now owns 52,157 shares of the industrial products company’s stock worth $4,721,000 after buying an additional 607 shares during the period. Finally, Moors & Cabot Inc. grew its stake in Emerson Electric by 3.9% in the 2nd quarter. Moors & Cabot Inc. now owns 49,671 shares of the industrial products company’s stock valued at $4,490,000 after buying an additional 1,865 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.
Emerson Electric Price Performance
EMR stock opened at $88.79 on Tuesday. Emerson Electric Co. has a 1 year low of $76.94 and a 1 year high of $100.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.35. The stock has a market cap of $50.62 billion, a price-to-earnings ratio of 3.87, a P/E/G ratio of 1.52 and a beta of 1.38. The company has a 50 day simple moving average of $93.05 and a 200 day simple moving average of $90.94.
Emerson Electric Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Thursday, November 16th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.52. Emerson Electric’s dividend payout ratio (DPR) is 9.08%.
Insider Buying and Selling
In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai purchased 10,000 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was purchased at an average cost of $88.20 per share, for a total transaction of $882,000.00. Following the transaction, the chief executive officer now owns 148,542 shares in the company, valued at approximately $13,101,404.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Surendralal Lanca Karsanbhai bought 10,000 shares of the business’s stock in a transaction on Friday, November 17th. The shares were purchased at an average cost of $88.20 per share, with a total value of $882,000.00. Following the acquisition, the chief executive officer now owns 148,542 shares of the company’s stock, valued at $13,101,404.40. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Arthur F. Golden purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was bought at an average cost of $85.64 per share, with a total value of $256,920.00. Following the purchase, the director now owns 97,504 shares of the company’s stock, valued at approximately $8,350,242.56. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on EMR. UBS Group cut Emerson Electric from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $97.00 to $104.00 in a report on Tuesday, October 3rd. Vertical Research upgraded Emerson Electric from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research report on Friday, September 15th. Wells Fargo & Company reduced their target price on shares of Emerson Electric from $110.00 to $105.00 in a research report on Monday, October 9th. Barclays lowered their target price on shares of Emerson Electric from $105.00 to $100.00 in a report on Tuesday, October 10th. Finally, KeyCorp started coverage on Emerson Electric in a research report on Monday, October 2nd. They set an “overweight” rating and a $120.00 price target on the stock. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.11.
Emerson Electric Profile
Emerson Electric Co, a technology and engineering company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.
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