Kestra Private Wealth Services LLC boosted its holdings in Emerson Electric Co. (NYSE:EMR - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,937 shares of the industrial products company's stock after purchasing an additional 11,133 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Emerson Electric were worth $11,944,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Emerson Electric during the 4th quarter worth about $885,886,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Emerson Electric by 3,866.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,022,517 shares of the industrial products company's stock valued at $374,581,000 after buying an additional 2,946,310 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Emerson Electric by 210.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company's stock valued at $215,602,000 after purchasing an additional 1,333,839 shares during the period. GAMMA Investing LLC raised its stake in shares of Emerson Electric by 12,707.7% during the first quarter. GAMMA Investing LLC now owns 1,126,441 shares of the industrial products company's stock valued at $123,503,000 after purchasing an additional 1,117,646 shares during the period. Finally, Lazard Asset Management LLC raised its stake in shares of Emerson Electric by 230,061.8% during the fourth quarter. Lazard Asset Management LLC now owns 819,376 shares of the industrial products company's stock valued at $101,545,000 after purchasing an additional 819,020 shares during the period. Hedge funds and other institutional investors own 74.30% of the company's stock.
Insider Buying and Selling
In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $113.33, for a total value of $1,892,384.34. Following the sale, the chief executive officer owned 164,957 shares in the company, valued at approximately $18,694,576.81. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several brokerages have recently commented on EMR. Stephens lifted their target price on Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. KeyCorp boosted their target price on shares of Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Barclays boosted their target price on shares of Emerson Electric from $118.00 to $125.00 and gave the company an "underweight" rating in a research note on Wednesday, July 9th. Citigroup boosted their target price on shares of Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $142.28.
Read Our Latest Stock Analysis on EMR
Emerson Electric Stock Down 0.6%
Shares of NYSE EMR traded down $0.92 during mid-day trading on Monday, reaching $143.31. The company had a trading volume of 1,020,827 shares, compared to its average volume of 2,990,234. The stock has a fifty day moving average of $128.27 and a two-hundred day moving average of $119.51. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.59 and a current ratio of 0.80. The company has a market capitalization of $80.61 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 2.80 and a beta of 1.29. Emerson Electric Co. has a 12-month low of $90.06 and a 12-month high of $145.58.
Emerson Electric (NYSE:EMR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.07. The firm had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.42 billion. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The business's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 earnings per share. As a group, equities research analysts expect that Emerson Electric Co. will post 5.96 EPS for the current year.
Emerson Electric Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a dividend of $0.5275 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.11 annualized dividend and a yield of 1.47%. Emerson Electric's dividend payout ratio (DPR) is presently 50.48%.
About Emerson Electric
(
Free Report)
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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