Brendel Financial Advisors LLC acquired a new position in Emerson Electric Co. (NYSE:EMR – Get Rating) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 19,739 shares of the industrial products company’s stock, valued at approximately $1,835,000.
A number of other hedge funds have also bought and sold shares of EMR. Van ECK Associates Corp boosted its position in Emerson Electric by 101.9% in the fourth quarter. Van ECK Associates Corp now owns 1,981,044 shares of the industrial products company’s stock worth $184,178,000 after purchasing an additional 999,881 shares during the last quarter. Two Sigma Investments LP boosted its position in Emerson Electric by 423.5% in the third quarter. Two Sigma Investments LP now owns 1,135,766 shares of the industrial products company’s stock worth $106,989,000 after purchasing an additional 918,801 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Emerson Electric by 2,284.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 920,298 shares of the industrial products company’s stock worth $86,692,000 after purchasing an additional 881,698 shares during the last quarter. Two Sigma Advisers LP boosted its position in Emerson Electric by 481.8% in the third quarter. Two Sigma Advisers LP now owns 1,046,000 shares of the industrial products company’s stock worth $98,533,000 after purchasing an additional 866,200 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Emerson Electric in the fourth quarter worth $66,938,000. 73.50% of the stock is currently owned by institutional investors and hedge funds.
NYSE EMR traded down $0.80 during trading on Tuesday, reaching $83.61. The company’s stock had a trading volume of 3,283,552 shares, compared to its average volume of 3,314,530. The stock has a market capitalization of $49.66 billion, a PE ratio of 17.49, a P/E/G ratio of 2.02 and a beta of 1.42. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.68 and a quick ratio of 1.60. The firm has a fifty day moving average of $93.98 and a 200 day moving average of $93.97. Emerson Electric Co. has a one year low of $83.12 and a one year high of $105.99.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Friday, May 13th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $2.06 annualized dividend and a dividend yield of 2.46%. Emerson Electric’s dividend payout ratio (DPR) is presently 43.10%.
A number of brokerages have recently commented on EMR. Deutsche Bank Aktiengesellschaft dropped their price target on Emerson Electric from $114.00 to $110.00 in a research report on Thursday, May 5th. Oppenheimer dropped their price target on Emerson Electric from $115.00 to $110.00 in a research report on Monday. Citigroup upped their price target on Emerson Electric from $120.00 to $123.00 in a research report on Thursday, February 3rd. Morgan Stanley upped their price target on Emerson Electric from $102.00 to $108.00 and gave the company an “equal weight” rating in a research report on Thursday, February 3rd. Finally, Sanford C. Bernstein began coverage on Emerson Electric in a research report on Monday, January 10th. They set a “market perform” rating and a $100.00 price target on the stock. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Emerson Electric currently has an average rating of “Buy” and a consensus price target of $108.26.
In other news, insider Mark J. Bulanda sold 4,574 shares of the stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $97.35, for a total transaction of $445,278.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.78% of the stock is currently owned by corporate insiders.
Emerson Electric Company Profile (Get Rating)
Emerson Electric Co designs and manufactures technology and engineering products for industrial, commercial, and consumer markets worldwide. The company operates through Automation Solutions and Commercial & Residential Solutions segments. The Automation Solutions segment offers measurement and analytical instrumentation, industrial valves and equipment, and process control software and systems.
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