Emerson Electric Co. (NYSE:EMR) Shares Purchased by Greenfield Savings Bank

15 Dec 2023, 18:30 by Doug Wharley · The Cerbat Gem

Greenfield Savings Bank lifted its stake in Emerson Electric Co. (NYSE:EMR – Free Report) by 3.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,883 shares of the industrial products company’s stock after purchasing an additional 255 shares during the period. Greenfield Savings Bank’s holdings in Emerson Electric were worth $665,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EMR. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Emerson Electric by 94,950.7% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 96,464,073 shares of the industrial products company’s stock valued at $8,719,388,000 after acquiring an additional 96,362,586 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Emerson Electric by 105,280.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 54,417,593 shares of the industrial products company’s stock valued at $5,227,354,000 after acquiring an additional 54,365,954 shares in the last quarter. State Street Corp increased its holdings in Emerson Electric by 0.3% during the 2nd quarter. State Street Corp now owns 24,568,180 shares of the industrial products company’s stock valued at $2,220,718,000 after acquiring an additional 64,875 shares in the last quarter. Morgan Stanley increased its holdings in Emerson Electric by 28.4% during the 4th quarter. Morgan Stanley now owns 11,835,398 shares of the industrial products company’s stock valued at $1,136,909,000 after acquiring an additional 2,621,089 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Emerson Electric by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 10,538,130 shares of the industrial products company’s stock valued at $949,669,000 after acquiring an additional 225,683 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Emerson Electric Trading Down 0.1 %

EMR stock traded down $0.09 during midday trading on Friday, reaching $96.45. 798,216 shares of the company’s stock traded hands, compared to its average volume of 3,154,171. The business has a 50-day moving average price of $90.29 and a two-hundred day moving average price of $91.75. Emerson Electric Co. has a fifty-two week low of $76.94 and a fifty-two week high of $100.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.35. The company has a market capitalization of $54.99 billion, a P/E ratio of 4.21, a PEG ratio of 1.58 and a beta of 1.32.

Emerson Electric (NYSE:EMR – Get Free Report) last posted its earnings results on Tuesday, November 7th. The industrial products company reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). Emerson Electric had a return on equity of 11.78% and a net margin of 87.17%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same period in the previous year, the firm posted $1.53 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts forecast that Emerson Electric Co. will post 5.29 EPS for the current fiscal year.

Emerson Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 17th were given a dividend of $0.525 per share. This is a boost from Emerson Electric’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Thursday, November 16th. Emerson Electric’s payout ratio is presently 9.16%.

Insider Transactions at Emerson Electric

In related news, CEO Surendralal Lanca Karsanbhai purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were purchased at an average cost of $88.20 per share, with a total value of $882,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 148,542 shares of the company’s stock, valued at approximately $13,101,404.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Surendralal Lanca Karsanbhai purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were purchased at an average cost of $88.20 per share, with a total value of $882,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 148,542 shares of the company’s stock, valued at approximately $13,101,404.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur F. Golden purchased 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was bought at an average cost of $85.64 per share, for a total transaction of $256,920.00. Following the completion of the acquisition, the director now directly owns 97,504 shares of the company’s stock, valued at $8,350,242.56. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EMR. Argus upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Monday, August 28th. StockNews.com downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, November 10th. JPMorgan Chase & Co. upgraded shares of Emerson Electric from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $83.00 to $107.00 in a report on Tuesday, August 22nd. Citigroup lowered their target price on shares of Emerson Electric from $112.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Finally, Stephens lowered their target price on shares of Emerson Electric from $120.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, November 10th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Emerson Electric currently has an average rating of “Moderate Buy” and a consensus price target of $104.61.

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