Sovereign Financial Group Inc. purchased a new position in Emerson Electric Co. (NYSE:EMR – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,867 shares of the industrial products company’s stock, valued at approximately $204,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EMR. Newport Trust Company LLC purchased a new position in shares of Emerson Electric in the second quarter worth approximately $574,908,000. Wellington Management Group LLP grew its position in shares of Emerson Electric by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock valued at $1,307,680,000 after acquiring an additional 1,488,948 shares during the period. Swedbank AB purchased a new stake in shares of Emerson Electric in the 1st quarter worth $129,670,000. Clean Energy Transition LLP raised its holdings in Emerson Electric by 110.7% in the 1st quarter. Clean Energy Transition LLP now owns 1,885,183 shares of the industrial products company’s stock worth $213,817,000 after purchasing an additional 990,615 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Emerson Electric during the second quarter valued at about $61,304,000. Institutional investors own 74.30% of the company’s stock.
Emerson Electric Stock Performance
Shares of EMR stock opened at $110.88 on Thursday. The stock has a market cap of $63.43 billion, a PE ratio of 5.93, a P/E/G ratio of 1.74 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. Emerson Electric Co. has a 1 year low of $83.10 and a 1 year high of $119.53. The stock has a fifty day moving average price of $105.14 and a 200 day moving average price of $109.27.
Emerson Electric Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were issued a dividend of $0.525 per share. The ex-dividend date was Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.89%. Emerson Electric’s payout ratio is 11.24%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Barclays decreased their price target on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Robert W. Baird upped their price objective on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. StockNews.com downgraded Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Redburn Atlantic began coverage on shares of Emerson Electric in a report on Monday, July 8th. They issued a “buy” rating and a $135.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Emerson Electric presently has an average rating of “Moderate Buy” and an average price target of $124.59.
Check Out Our Latest Research Report on Emerson Electric
Emerson Electric Profile
Emerson Electric Co, a technology and software 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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