Nuveen LLC Buys Shares of 6,724,897 Emerson Electric Co. (NYSE:EMR)

Key Points

• Nuveen LLC has acquired a new stake in Emerson Electric Co., purchasing 6,724,897 shares valued at approximately $737 million, representing 1.20% ownership of the company.
• Institutional investors now own 74.30% of Emerson Electric's stock, with several firms recently increasing or establishing their positions.
• Emerson Electric has announced a quarterly dividend of $0.5275 per share, with a dividend yield of 1.6%, set to be paid on September 10th.

Nuveen LLC bought a new stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,724,897 shares of the industrial products company's stock, valued at approximately $737,318,000. Nuveen LLC owned about 1.20% of Emerson Electric as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EMR. Brighton Jones LLC raised its position in Emerson Electric by 74.1% during the fourth quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company's stock valued at $1,412,000 after buying an additional 4,850 shares during the period. FIL Ltd increased its holdings in shares of Emerson Electric by 15.8% in the 4th quarter. FIL Ltd now owns 106,232 shares of the industrial products company's stock valued at $13,165,000 after purchasing an additional 14,523 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Emerson Electric by 15.4% during the fourth quarter. Bessemer Group Inc. now owns 23,983 shares of the industrial products company's stock worth $2,972,000 after purchasing an additional 3,194 shares during the period. F M Investments LLC grew its position in Emerson Electric by 25.3% during the fourth quarter. F M Investments LLC now owns 7,316 shares of the industrial products company's stock valued at $907,000 after purchasing an additional 1,476 shares in the last quarter. Finally, Legacy Financial Advisors Inc. purchased a new stake in Emerson Electric in the 4th quarter worth approximately $314,000. Institutional investors and hedge funds own 74.30% of the company's stock.

Emerson Electric Stock Performance

EMR stock traded down $0.73 during trading hours on Thursday, reaching $134.27. The stock had a trading volume of 1,405,464 shares, compared to its average volume of 3,170,490. The stock has a 50-day simple moving average of $136.13 and a 200 day simple moving average of $121.77. The stock has a market capitalization of $75.57 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 2.59 and a beta of 1.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $150.27.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.51 by $0.01. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%. The business had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter in the previous year, the firm earned $1.43 earnings per share. Emerson Electric's revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts predict that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $0.5275 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.11 annualized dividend and a yield of 1.6%. Emerson Electric's dividend payout ratio (DPR) is 45.38%.

Analyst Ratings Changes

EMR has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on Emerson Electric from $113.00 to $133.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. TD Cowen upgraded Emerson Electric to a "strong-buy" rating in a report on Tuesday, July 8th. Bank of America increased their price objective on Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Stephens lifted their target price on shares of Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Robert W. Baird dropped their price target on shares of Emerson Electric from $140.00 to $130.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $142.39.

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.