D.A. Davidson & CO. raised its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 0.9% in the third quarter, HoldingsChannel reports. The firm owned 580,987 shares of the industrial products company’s stock after buying an additional 5,122 shares during the period. Emerson Electric comprises 0.8% of D.A. Davidson & CO.’s portfolio, making the stock its 26th largest holding. D.A. Davidson & CO.’s holdings in Emerson Electric were worth $44,492,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Tradewinds Capital Management LLC lifted its holdings in Emerson Electric by 584.1% during the 3rd quarter. Tradewinds Capital Management LLC now owns 1,416 shares of the industrial products company’s stock worth $108,000 after buying an additional 1,209 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Emerson Electric in the 2nd quarter worth approximately $102,000. Kaizen Advisory LLC lifted its holdings in shares of Emerson Electric by 151.1% in the 2nd quarter. Kaizen Advisory LLC now owns 1,539 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 926 shares during the last quarter. Sun Life Financial INC lifted its holdings in shares of Emerson Electric by 761.6% in the 2nd quarter. Sun Life Financial INC now owns 1,706 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 1,508 shares during the last quarter. Finally, Fort L.P. bought a new stake in shares of Emerson Electric in the 2nd quarter worth approximately $118,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.
Shares of Emerson Electric stock opened at $65.81 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.78 and a current ratio of 1.07. The firm has a market cap of $41.21 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. Emerson Electric Co. has a 1-year low of $61.56 and a 1-year high of $79.70.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be paid a dividend of $0.49 per share. The ex-dividend date is Thursday, November 15th. This represents a $1.96 annualized dividend and a yield of 2.98%. This is an increase from Emerson Electric’s previous quarterly dividend of $0.49. Emerson Electric’s payout ratio is presently 57.99%.
EMR has been the topic of several recent research reports. Barclays raised their price target on Emerson Electric from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 24th. Zacks Investment Research raised Emerson Electric from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Monday, August 6th. Gordon Haskett initiated coverage on Emerson Electric in a report on Friday, October 12th. They issued a “buy” rating on the stock. Bank of America raised their price target on Emerson Electric from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, October 4th. Finally, Morgan Stanley initiated coverage on Emerson Electric in a report on Monday, August 20th. They issued an “overweight” rating and a $85.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $78.39.
In other Emerson Electric news, President Edward L. Monser sold 60,000 shares of Emerson Electric stock in a transaction on Monday, September 10th. The stock was sold at an average price of $76.10, for a total transaction of $4,566,000.00. Following the sale, the president now owns 176,477 shares of the company’s stock, valued at approximately $13,429,899.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Edward L. Monser sold 30,000 shares of Emerson Electric stock in a transaction on Friday, September 7th. The shares were sold at an average price of $75.84, for a total value of $2,275,200.00. Following the sale, the president now directly owns 176,477 shares in the company, valued at approximately $13,384,015.68. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.
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Emerson Electric Company Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.
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