Pinnacle Associates Ltd. boosted its stake in Emerson Electric Co. (NYSE:EMR – Free Report) by 1.7% in the third quarter, Holdings Channel.com reports. The firm owned 56,860 shares of the industrial products company’s stock after acquiring an additional 968 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Emerson Electric were worth $6,219,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of EMR. Transcendent Capital Group LLC purchased a new stake in shares of Emerson Electric during the 1st quarter valued at $31,000. Meeder Asset Management Inc. boosted its holdings in Emerson Electric by 361.5% in the second quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 235 shares during the last quarter. Morton Brown Family Wealth LLC purchased a new stake in Emerson Electric during the third quarter valued at about $33,000. Versant Capital Management Inc increased its stake in Emerson Electric by 471.9% during the second quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 269 shares during the last quarter. Finally, Matrix Trust Co purchased a new position in shares of Emerson Electric in the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 74.30% of the company’s stock.
Emerson Electric Price Performance
EMR opened at $109.06 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. Emerson Electric Co. has a 1-year low of $83.10 and a 1-year high of $119.53. The company has a 50-day moving average of $106.51 and a 200-day moving average of $108.90. The company has a market capitalization of $62.39 billion, a P/E ratio of 5.84, a PEG ratio of 1.68 and a beta of 1.30.
Emerson Electric Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.10 annualized dividend and a yield of 1.93%. Emerson Electric’s payout ratio is 11.24%.
Analysts Set New Price Targets
A number of research firms recently issued reports on EMR. Barclays dropped their target price on shares of 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 assumed coverage on shares of Emerson Electric in a report on Friday, September 6th. They set an “underweight” rating and a $105.00 target price on the stock. Wells Fargo & Company lowered their price target on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. StockNews.com cut Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Stephens lowered Emerson Electric from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $135.00 to $120.00 in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Emerson Electric currently has an average rating of “Moderate Buy” and a consensus price target of $125.47.
View Our Latest Research Report on EMR
About Emerson Electric
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.
Read More
- Five stocks we like better than Emerson Electric
- What Are the U.K. Market Holidays? How to Invest and Trade
- Boeing: Why Analysts Think Now’s The Time To Be Brave
- 3 Ways To Invest In Coffee, Other Than Drinking It
- Advanced Micro Devices is Building Momentum with AI: Buy the Dip
- How to Know if a Stock Pays Dividends and When They Are Paid Out
- Can Evolv Stock Recover From Its Massive Self-Inflicted Drop?
Want to see what other hedge funds are holding EMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Emerson Electric Co. (NYSE:EMR – Free Report).
Receive News & Ratings for Emerson Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric and related companies with MarketBeat.com's FREE daily email newsletter.