McGlone Suttner Wealth Management Inc. bought a new position in Emerson Electric Co. (NYSE:EMR – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,936 shares of the industrial products company’s stock, valued at approximately $212,000.
Several other hedge funds also recently made changes to their positions in the company. Guardian Investment Management lifted its stake in shares of Emerson Electric by 1.9% in the third quarter. Guardian Investment Management now owns 6,774 shares of the industrial products company’s stock valued at $741,000 after purchasing an additional 124 shares during the period. CHICAGO TRUST Co NA lifted its stake in shares of Emerson Electric by 5.2% in the third quarter. CHICAGO TRUST Co NA now owns 20,022 shares of the industrial products company’s stock valued at $2,190,000 after purchasing an additional 997 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Emerson Electric by 3.6% in the third quarter. Exchange Traded Concepts LLC now owns 173,384 shares of the industrial products company’s stock valued at $18,963,000 after purchasing an additional 6,076 shares during the period. Carnegie Investment Counsel lifted its stake in shares of Emerson Electric by 23.8% in the third quarter. Carnegie Investment Counsel now owns 92,582 shares of the industrial products company’s stock valued at $10,126,000 after purchasing an additional 17,797 shares during the period. Finally, InTrack Investment Management Inc lifted its stake in shares of Emerson Electric by 15.4% in the third quarter. InTrack Investment Management Inc now owns 6,040 shares of the industrial products company’s stock valued at $661,000 after purchasing an additional 805 shares during the period. Institutional investors and hedge funds own 74.30% of the company’s stock.
Emerson Electric Price Performance
Emerson Electric stock opened at $112.06 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. The company has a market cap of $64.11 billion, a price-to-earnings ratio of 6.00, a PEG ratio of 1.70 and a beta of 1.30. Emerson Electric Co. has a 1 year low of $83.10 and a 1 year high of $119.53. The firm has a 50 day moving average price of $105.03 and a 200 day moving average price of $109.24.
Emerson Electric Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were given a dividend of $0.525 per share. The ex-dividend date was Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a yield of 1.87%. Emerson Electric’s dividend payout ratio (DPR) is 11.24%.
Analysts Set New Price Targets
Several analysts recently commented on EMR shares. JPMorgan Chase & Co. cut shares of Emerson Electric from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $132.00 to $115.00 in a research note on Wednesday, August 14th. Robert W. Baird raised their price objective on shares of Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Redburn Atlantic started coverage on shares of Emerson Electric in a report on Monday, July 8th. They set a “buy” rating and a $135.00 target price for the company. Oppenheimer raised their target price on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, StockNews.com downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Emerson Electric has a consensus rating of “Moderate Buy” and an average price target of $124.59.
View Our Latest Stock Report on Emerson Electric
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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