Emerson Electric Co. (NYSE:EMR) Shares Bought by Occidental Asset Management LLC
Occidental Asset Management LLC increased its holdings in Emerson Electric Co. (NYSE:EMR) by 18.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 9,968 shares of the industrial products company’s stock after buying an additional 1,544 shares during the period. Occidental Asset Management LLC’s holdings in Emerson Electric were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Middleton & Co Inc MA acquired a new stake in shares of Emerson Electric during the 1st quarter worth approximately $214,000. Delta Asset Management LLC TN grew its stake in shares of Emerson Electric by 0.5% during the 2nd quarter. Delta Asset Management LLC TN now owns 114,619 shares of the industrial products company’s stock worth $7,647,000 after purchasing an additional 598 shares during the period. DNB Asset Management AS grew its stake in shares of Emerson Electric by 4.3% during the 2nd quarter. DNB Asset Management AS now owns 127,098 shares of the industrial products company’s stock worth $8,480,000 after purchasing an additional 5,283 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Emerson Electric during the 2nd quarter worth approximately $234,000. Finally, Sawtooth Solutions LLC grew its stake in shares of Emerson Electric by 34.7% during the 1st quarter. Sawtooth Solutions LLC now owns 7,923 shares of the industrial products company’s stock worth $542,000 after purchasing an additional 2,041 shares during the period. Institutional investors own 70.30% of the company’s stock.
Emerson Electric stock traded down $0.86 during trading on Thursday, reaching $56.28. The company had a trading volume of 359,662 shares, compared to its average volume of 3,202,078. The company has a 50-day moving average of $64.25. Emerson Electric Co. has a 1-year low of $55.38 and a 1-year high of $79.70. The company has a market capitalization of $34.94 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.96 and a beta of 1.32. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.18 and a quick ratio of 0.85.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.96 dividend on an annualized basis and a yield of 3.48%. Emerson Electric’s payout ratio is currently 57.99%.
A number of equities research analysts have recently commented on the stock. Credit Suisse Group dropped their price objective on shares of Emerson Electric from $74.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Zacks Investment Research cut shares of Emerson Electric from a “hold” rating to a “sell” rating and set a $69.00 price objective on the stock. in a research note on Tuesday, July 23rd. Deutsche Bank dropped their price objective on shares of Emerson Electric from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Cowen reaffirmed a “buy” rating and set a $72.00 price objective on shares of Emerson Electric in a research note on Friday, August 9th. Finally, Argus cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Emerson Electric has a consensus rating of “Hold” and a consensus price target of $72.71.
In other Emerson Electric news, VP Bell Katherine Button sold 7,794 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $64.17, for a total value of $500,140.98. Following the transaction, the vice president now owns 22,510 shares in the company, valued at approximately $1,444,466.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael H. Train sold 12,278 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $63.80, for a total value of $783,336.40. Following the completion of the transaction, the insider now owns 129,298 shares in the company, valued at approximately $8,249,212.40. The disclosure for this sale can be found here. Insiders sold a total of 40,333 shares of company stock worth $2,583,230 in the last 90 days. 0.07% of the stock is currently 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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