Emerson Electric Co. (NYSE:EMR) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lessened its stake in shares of Emerson Electric Co. (NYSE:EMRFree Report) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,932 shares of the industrial products company’s stock after selling 544 shares during the quarter. New York Life Investment Management LLC’s holdings in Emerson Electric were worth $8,588,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Glass Jacobson Investment Advisors llc acquired a new position in shares of Emerson Electric during the second quarter worth about $28,000. Resurgent Financial Advisors LLC acquired a new position in shares of Emerson Electric during the fourth quarter worth about $32,000. Wolff Wiese Magana LLC lifted its stake in shares of Emerson Electric by 122.7% during the second quarter. Wolff Wiese Magana LLC now owns 363 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 200 shares in the last quarter. Certified Advisory Corp acquired a new position in shares of Emerson Electric during the first quarter worth about $34,000. Finally, West Tower Group LLC acquired a new position in shares of Emerson Electric during the second quarter worth about $35,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Insider Buying and Selling at Emerson Electric

In other news, Director Arthur F. Golden purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was purchased at an average cost of $85.64 per share, with a total value of $256,920.00. Following the purchase, the director now owns 97,504 shares in the company, valued at approximately $8,350,242.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Arthur F. Golden acquired 3,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was bought at an average price of $85.64 per share, for a total transaction of $256,920.00. Following the transaction, the director now owns 97,504 shares of the company’s stock, valued at $8,350,242.56. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Surendralal Lanca Karsanbhai acquired 10,000 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were bought at an average price of $88.20 per share, with a total value of $882,000.00. Following the transaction, the chief executive officer now directly owns 148,542 shares in the company, valued at approximately $13,101,404.40. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

EMR has been the topic of several recent analyst reports. Mizuho upgraded Emerson Electric from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $95.00 to $118.00 in a research note on Thursday, January 4th. Wells Fargo & Company upped their price objective on Emerson Electric from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, December 19th. Barclays cut their price objective on Emerson Electric from $105.00 to $100.00 in a research note on Tuesday, October 10th. StockNews.com cut Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Finally, UBS Group cut their price objective on Emerson Electric from $104.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 22nd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $106.72.

Check Out Our Latest Report on Emerson Electric

Emerson Electric Stock Performance

Shares of EMR stock opened at $93.98 on Friday. Emerson Electric Co. has a 12-month low of $76.94 and a 12-month high of $100.62. The firm has a market capitalization of $53.58 billion, a price-to-earnings ratio of 4.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.34. The business has a 50 day simple moving average of $93.70 and a 200 day simple moving average of $93.86. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.35.

Emerson Electric (NYSE:EMRGet Free Report) last issued its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.20 billion. Emerson Electric had a return on equity of 11.78% and a net margin of 87.17%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $1.53 earnings per share. On average, equities research analysts anticipate that Emerson Electric Co. will post 5.29 EPS for the current year.

Emerson Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 17th were paid a dividend of $0.525 per share. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, November 16th. Emerson Electric’s dividend payout ratio (DPR) is presently 9.16%.

Emerson Electric Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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