Banco Santander S.A. lifted its position in Emerson Electric Co. (NYSE:EMR) by 1.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 53,578 shares of the industrial products company’s stock after acquiring an additional 699 shares during the period. Banco Santander S.A.’s holdings in Emerson Electric were worth $2,553,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in EMR. Cetera Investment Advisers boosted its position in Emerson Electric by 3.2% during the fourth quarter. Cetera Investment Advisers now owns 5,246 shares of the industrial products company’s stock worth $402,000 after purchasing an additional 161 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Emerson Electric by 72.7% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 145,078 shares of the industrial products company’s stock worth $11,064,000 after purchasing an additional 61,079 shares during the period. TRUE Private Wealth Advisors bought a new position in Emerson Electric during the fourth quarter worth $191,000. CIBC Private Wealth Group LLC boosted its position in Emerson Electric by 0.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 207,160 shares of the industrial products company’s stock worth $15,798,000 after purchasing an additional 1,126 shares during the period. Finally, Absher Wealth Management LLC bought a new position in Emerson Electric during the fourth quarter worth $16,912,000. 73.32% of the stock is owned by institutional investors and hedge funds.
EMR stock traded down $0.38 during midday trading on Friday, reaching $55.87. The company had a trading volume of 4,231,732 shares, compared to its average volume of 3,819,407. The company has a market capitalization of $33.61 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 2.93 and a beta of 1.51. The stock has a 50 day moving average price of $52.57 and a 200-day moving average price of $65.49. Emerson Electric Co. has a 1-year low of $37.75 and a 1-year high of $78.38. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.01 and a quick ratio of 0.75.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Thursday, May 14th. Emerson Electric’s dividend payout ratio (DPR) is presently 54.20%.
A number of research firms have commented on EMR. Wolfe Research cut shares of Emerson Electric from an “outperform” rating to a “market perform” rating and set a $71.00 price objective for the company. in a research report on Thursday, March 12th. Bank of America lifted their price objective on shares of Emerson Electric from $87.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Cowen reaffirmed a “hold” rating and set a $63.00 price objective on shares of Emerson Electric in a research report on Wednesday, April 29th. Vertical Research downgraded Emerson Electric from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a report on Monday, March 23rd. Finally, Zacks Investment Research raised Emerson Electric from a “sell” rating to a “hold” rating and set a $60.00 target price for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Emerson Electric currently has a consensus rating of “Hold” and a consensus price target of $64.13.
In related news, Director Arthur F. Golden purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average price of $51.47 per share, with a total value of $257,350.00. Following the completion of the purchase, the director now directly owns 81,898 shares in the company, valued at $4,215,290.06. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by insiders.
About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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