Key Points
- CEO sale: Emerson CEO Surendralal Lanca Karsanbhai sold 7,263 shares at an average price of $133 for about $965,979, trimming his stake by 3.57% to 196,292 shares valued at roughly $26.1 million.
- Dividend increase: The company raised its quarterly dividend to $0.555 (from $0.53), payable Dec. 10 with an ex-dividend date of Nov. 14, equal to a $2.22 annualized payout and about a 1.6% yield.
- Stock and analyst snapshot: EMR trades in the mid-$130s with a market cap near $77 billion and a P/E around 34, and analysts hold a "Moderate Buy" consensus with an average price target of $147.67.
Emerson Electric Co. (NYSE:EMR - Get Free Report) CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $133.00, for a total transaction of $965,979.00. Following the completion of the transaction, the chief executive officer owned 196,292 shares of the company's stock, valued at $26,106,836. This represents a 3.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Emerson Electric Stock Up 0.2%
EMR stock opened at $136.92 on Friday. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $150.27. The company has a current ratio of 0.88, a quick ratio of 0.65 and a debt-to-equity ratio of 0.41. The company has a market cap of $76.99 billion, a P/E ratio of 33.89, a P/E/G ratio of 2.20 and a beta of 1.26. The company's 50-day moving average price is $131.53 and its 200 day moving average price is $132.20.
Emerson Electric (NYSE:EMR - Get Free Report) last announced its quarterly earnings results on Thursday, April 6th. The industrial products company reported $0.79 EPS for the quarter. The business had revenue of $3.16 billion for the quarter. Emerson Electric had a return on equity of 15.87% and a net margin of 12.73%. On average, research analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.
Emerson Electric Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be given a $0.555 dividend. This is an increase from Emerson Electric's previous quarterly dividend of $0.53. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, November 14th. Emerson Electric's dividend payout ratio (DPR) is 54.95%.
Emerson Electric declared that its board has initiated a stock repurchase program on Wednesday, November 5th that permits the company to buyback $0.00 in shares. This buyback authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its stock is undervalued.
Institutional Investors Weigh In On Emerson Electric
Several hedge funds have recently made changes to their positions in the business. Coldstream Capital Management Inc. increased its position in shares of Emerson Electric by 18.3% in the second quarter. Coldstream Capital Management Inc. now owns 21,378 shares of the industrial products company's stock worth $2,850,000 after acquiring an additional 3,308 shares in the last quarter. Davis Investment Partners LLC purchased a new stake in Emerson Electric during the 2nd quarter worth $692,000. CORDA Investment Management LLC. acquired a new stake in Emerson Electric in the 2nd quarter valued at $1,173,000. HighTower Advisors LLC raised its position in Emerson Electric by 1.6% in the first quarter. HighTower Advisors LLC now owns 716,343 shares of the industrial products company's stock valued at $78,540,000 after purchasing an additional 11,097 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Emerson Electric by 5.0% during the second quarter. Legal & General Group Plc now owns 3,600,518 shares of the industrial products company's stock worth $480,057,000 after purchasing an additional 172,507 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Emerson Electric from $151.00 to $150.00 and set a "neutral" rating on the stock in a research note on Monday, November 10th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Emerson Electric in a report on Wednesday, October 8th. Daiwa Capital Markets raised their price objective on shares of Emerson Electric from $150.00 to $153.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. Barclays lifted their price objective on Emerson Electric from $127.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 6th. Finally, Jefferies Financial Group lowered their target price on Emerson Electric from $155.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, November 21st. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Emerson Electric presently has an average rating of "Moderate Buy" and an average price target of $147.67.
Get Our Latest Analysis on EMR
Emerson Electric Company Profile
(
Get 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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
