Kesler Norman & Wride LLC has increased its holdings in Emerson Electric Co. (NYSE: EMR) by purchasing an additional 146 shares during the first quarter of 2024. According to a recent filing with the Securities & Exchange Commission, the firm now owns a total of 42,448 shares, valued at approximately $4.65 million at the end of the reporting period.
This move comes as part of a broader trend among institutional investors, with several firms acquiring new stakes in Emerson Electric during the same period. For instance, Orion Capital Management LLC invested $25,000, while Vega Investment Solutions and Ameriflex Group Inc. made similar investments of $27,000 and $30,000, respectively. Institutional investors now control 74.30% of Emerson Electric’s stock.
Stock Performance and Financial Indicators
As of the latest trading session, Emerson Electric shares opened at $140.64, reflecting a 0.6% increase. The stock’s performance indicators show a 50-day simple moving average at $124.48 and a 200-day simple moving average at $118.90. The company recorded a fifty-two week low of $90.06 and a high of $142.32.
Emerson Electric maintains a market capitalization of $79.11 billion and exhibits a price-to-earnings (P/E) ratio of 33.65, along with a price-to-earnings-growth (PEG) ratio of 2.71. The company’s debt-to-equity ratio stands at 0.42, with quick and current ratios of 0.59 and 0.80, respectively.
The firm also announced a quarterly dividend of $0.5275 per share, which was distributed on June 10, 2024, to shareholders who were on record as of May 16, 2024. This translates to an annualized dividend of $2.11 and a yield of 1.50%. Emerson’s current dividend payout ratio is 50.48%.
Analyst Ratings and Insider Transactions
Analysts have been active in their assessments of Emerson Electric. Notably, Citigroup raised its price target from $133.00 to $146.00 and assigned a “buy” rating. Other firms, including JPMorgan Chase & Co. and Bank of America, have also adjusted their ratings and price targets, with the latter increasing its target to $155.00.
Currently, the consensus rating for Emerson Electric stands at “Moderate Buy,” with an average price target of $139.83. Among analysts, two have rated the stock as a sell, four as hold, twelve as buy, and two as strong buy.
In a significant insider transaction, CEO Surendralal Lanca Karsanbhai sold 16,698 shares on May 8, 2024, at an average price of $113.33, resulting in a total transaction value of approximately $1.89 million. Following this sale, Karsanbhai retains 164,957 shares of Emerson Electric, valued at around $18.69 million. This sale represents a 9.19% reduction in his ownership stake.
Emerson Electric Co. operates across various sectors, providing technology and software solutions to customers in industrial, commercial, and consumer markets worldwide. The company’s six operational segments include Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.
As the organization continues to expand and adapt in a competitive market, its financial performance and strategic decisions will be closely monitored by investors and analysts alike.
