Keybank National Association OH decreased its holdings in Emerson Electric Co. (NYSE:EMR) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 631,230 shares of the industrial products company’s stock after selling 1,915 shares during the period. Keybank National Association OH owned about 0.11% of Emerson Electric worth $60,750,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Wagner Wealth Management LLC acquired a new position in shares of Emerson Electric in the 1st quarter valued at about $25,000. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of Emerson Electric in the 2nd quarter valued at about $28,000. Certified Advisory Corp acquired a new position in Emerson Electric in the first quarter worth approximately $35,000. Financial Insights Inc. acquired a new position in Emerson Electric in the second quarter worth approximately $38,000. Finally, Robbins Farley LLC acquired a new position in Emerson Electric in the first quarter worth approximately $47,000. Institutional investors own 72.67% of the company’s stock.
Shares of EMR traded down $0.27 during mid-day trading on Tuesday, hitting $96.46. The company’s stock had a trading volume of 46,770 shares, compared to its average volume of 2,592,677. Emerson Electric Co. has a one year low of $63.26 and a one year high of $105.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.31. The firm has a market capitalization of $57.66 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 2.42 and a beta of 1.54. The stock’s 50-day moving average is $100.81 and its two-hundred day moving average is $96.28.
The company also recently announced a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 13th were given a $0.505 dividend. The ex-dividend date was Thursday, August 12th. This represents a $2.02 annualized dividend and a yield of 2.09%. Emerson Electric’s dividend payout ratio (DPR) is currently 58.38%.
In related news, VP Bell Katherine Button sold 12,850 shares of the firm’s stock in a transaction on Tuesday, August 10th. The stock was sold at an average price of $101.21, for a total value of $1,300,548.50. Following the completion of the transaction, the vice president now directly owns 27,659 shares of the company’s stock, valued at $2,799,367.39. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.
EMR has been the topic of a number of research reports. Morgan Stanley increased their price objective on Emerson Electric from $97.00 to $106.00 and gave the stock an “equal weight” rating in a report on Thursday, August 5th. Zacks Investment Research upgraded Emerson Electric from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a report on Thursday, August 12th. Barclays upped their target price on Emerson Electric from $91.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 8th. Deutsche Bank Aktiengesellschaft upped their target price on Emerson Electric from $103.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, July 14th. Finally, Cowen reaffirmed a “buy” rating on shares of Emerson Electric in a research report on Tuesday, August 31st. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Emerson Electric currently has a consensus rating of “Buy” and a consensus price target of $99.95.
Emerson Electric Profile
Emerson Electric Co is a global technology and engineering company, which provides innovative solutions for customers in industrial, commercial and residential markets. It operates through the following business segments: Automation Solutions; Climate Technologies; and Tools and Home Products. The Automation Solutions segment offers products, integrated solutions, software and services which enable process, hybrid and discrete manufacturers to maximize production, protect personnel and the environment, reduce project costs, and optimize their energy efficiency and operating costs.
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