LPL Financial LLC raised its holdings in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 806,666 shares of the industrial products company’s stock after purchasing an additional 17,820 shares during the period. LPL Financial LLC owned about 0.14% of Emerson Electric worth $88,862,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in Emerson Electric by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock worth $1,307,680,000 after acquiring an additional 1,488,948 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Emerson Electric by 0.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,654,285 shares of the industrial products company’s stock worth $1,036,982,000 after purchasing an additional 62,105 shares during the last quarter. Norges Bank acquired a new position in Emerson Electric during the 4th quarter valued at approximately $764,604,000. First Trust Advisors LP increased its position in Emerson Electric by 219.2% in the fourth quarter. First Trust Advisors LP now owns 2,601,619 shares of the industrial products company’s stock worth $253,216,000 after buying an additional 1,786,583 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Emerson Electric by 6.8% in the first quarter. Van ECK Associates Corp now owns 2,106,958 shares of the industrial products company’s stock valued at $238,971,000 after buying an additional 134,865 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors.
Emerson Electric Trading Up 0.6 %
Emerson Electric stock opened at $102.03 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. Emerson Electric Co. has a 12 month low of $83.10 and a 12 month high of $119.53. The company’s fifty day simple moving average is $107.81 and its 200-day simple moving average is $109.55. The stock has a market cap of $58.43 billion, a P/E ratio of 5.46, a P/E/G ratio of 1.66 and a beta of 1.30.
Emerson Electric Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 annualized dividend and a yield of 2.06%. Emerson Electric’s dividend payout ratio (DPR) is presently 11.24%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Barclays reduced their price objective on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Morgan Stanley started coverage on Emerson Electric in a research report on Friday, September 6th. They issued an “underweight” rating and a $105.00 target price on the stock. JPMorgan Chase & Co. cut Emerson Electric from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $132.00 to $115.00 in a research note on Wednesday, August 14th. Finally, Redburn Atlantic assumed coverage on shares of Emerson Electric in a research note on Monday, July 8th. They set a “buy” rating and a $135.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Emerson Electric has a consensus rating of “Moderate Buy” and a consensus target price of $124.06.
Check Out Our Latest Report on EMR
Emerson Electric Company 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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