Meridian Wealth Management LLC purchased a new position in Emerson Electric Co. (NYSE:EMR - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 34,306 shares of the industrial products company's stock, valued at approximately $3,752,000.
Several other institutional investors and hedge funds have also made changes to their positions in EMR. Capital Performance Advisors LLP acquired a new position in Emerson Electric in the 3rd quarter worth approximately $25,000. Darwin Wealth Management LLC purchased a new position in shares of Emerson Electric during the third quarter worth $29,000. Transcendent Capital Group LLC acquired a new position in Emerson Electric during the first 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 purchasing an additional 235 shares during the last quarter. Finally, Morton Brown Family Wealth LLC acquired a new stake in Emerson Electric during the 3rd quarter worth about $33,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.
NYSE:EMR opened at $130.07 on Friday. The company's 50-day moving average is $114.02 and its two-hundred day moving average is $110.74. The firm has a market capitalization of $74.17 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 2.15 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.40. Emerson Electric Co. has a 1-year low of $87.55 and a 1-year high of $131.56.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.5275 per share. This is a boost from Emerson Electric's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.11 annualized dividend and a yield of 1.62%. Emerson Electric's dividend payout ratio (DPR) is 61.70%.
A number of brokerages have recently commented on EMR. KeyCorp upped their target price on Emerson Electric from $125.00 to $140.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 6th. Stephens cut shares of Emerson Electric from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $135.00 to $120.00 in a research note on Wednesday, October 16th. JPMorgan Chase & Co. cut shares of Emerson Electric from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $132.00 to $115.00 in a research note on Wednesday, August 14th. StockNews.com upgraded shares of Emerson Electric from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Morgan Stanley assumed coverage on shares of Emerson Electric in a research note on Friday, September 6th. They set an "underweight" rating and a $105.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $130.00.
Check Out Our Latest Report on Emerson Electric
In other Emerson Electric news, SVP Michael H. Train sold 21,525 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $125.96, for a total value of $2,711,289.00. Following the sale, the senior vice president now owns 262,408 shares of the company's stock, valued at $33,052,911.68. The trade was a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.25% of the company's stock.
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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