Tredje AP fonden boosted its position in Emerson Electric Co. (NYSE:EMR) by 147.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 92,746 shares of the industrial products company’s stock after purchasing an additional 55,275 shares during the period. Tredje AP fonden’s holdings in Emerson Electric were worth $3,722,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Cetera Investment Advisers lifted its stake in Emerson Electric by 3.2% in the 4th quarter. Cetera Investment Advisers now owns 5,246 shares of the industrial products company’s stock valued at $402,000 after purchasing an additional 161 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Emerson Electric by 72.7% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 145,078 shares of the industrial products company’s stock valued at $11,064,000 after purchasing an additional 61,079 shares during the last quarter. TRUE Private Wealth Advisors acquired a new stake in Emerson Electric in the 4th quarter valued at about $191,000. CIBC Private Wealth Group LLC lifted its stake in Emerson Electric by 0.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 207,160 shares of the industrial products company’s stock valued at $15,798,000 after purchasing an additional 1,126 shares during the last quarter. Finally, Absher Wealth Management LLC acquired a new stake in Emerson Electric in the 4th quarter valued at about $16,912,000. Institutional investors and hedge funds own 73.32% of the company’s stock.
Shares of EMR traded down $0.38 during mid-day trading on Friday, hitting $55.87. 4,231,732 shares of the company’s stock were exchanged, compared to its average volume of 3,819,407. Emerson Electric Co. has a 52 week low of $37.75 and a 52 week high of $78.38. The stock’s 50-day simple moving average is $52.57 and its 200-day simple moving average is $65.49. The firm has a market cap of $33.61 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 2.93 and a beta of 1.51. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.52.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, May 14th. This represents a $2.00 annualized dividend and a dividend yield of 3.58%. Emerson Electric’s dividend payout ratio is 54.20%.
Several equities research analysts recently issued reports on EMR shares. Argus upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Wednesday, April 22nd. Bank of America increased their price target on shares of Emerson Electric from $87.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Cowen reissued a “hold” rating and issued a $63.00 price target on shares of Emerson Electric in a report on Wednesday, April 29th. Citigroup lowered their price target on shares of Emerson Electric from $77.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Finally, Vertical Research cut shares of Emerson Electric from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a report on Monday, March 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $64.13.
In other news, Director Arthur F. Golden purchased 5,000 shares of Emerson Electric stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average price of $51.47 per share, for a total transaction of $257,350.00. Following the transaction, the director now owns 81,898 shares of the company’s stock, valued at approximately $4,215,290.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.
About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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