Kesler Norman & Wride LLC has bolstered its investment in Emerson Electric Co. (NYSE: EMR) by acquiring an additional 146 shares during the first quarter of 2024. This move increased the firm’s total holdings to 42,448 shares, valued at approximately $4.65 million at the end of the reporting period, according to the latest filing with the Securities and Exchange Commission.
Other institutional investors have also shown interest in Emerson Electric. For instance, Orion Capital Management LLC purchased a stake worth $25,000 in the fourth quarter, while Vega Investment Solutions and Murphy & Mullick Capital Management Corp made similar investments valued at $27,000 and $28,000, respectively. Notably, institutional investors now own 74.30% of the company’s stock.
Recent Stock Performance and Financials
Emerson Electric’s stock opened at $140.64 on the latest trading day, reflecting a 0.6% increase. The stock’s performance has been noteworthy, with a 50-day simple moving average of $124.48 and a 200-day simple moving average of $118.90. Over the past year, the stock has fluctuated between a low of $90.06 and a high of $142.32. The company currently holds a market capitalization of $79.11 billion, with a price-to-earnings (P/E) ratio of 33.65 and a price-to-earnings-growth (PEG) ratio of 2.71.
Furthermore, Emerson Electric recently declared a quarterly dividend of $0.5275 per share, which was distributed on June 10, 2024. Shareholders of record on May 16, 2024 received this dividend, representing an annualized total of $2.11 and yielding 1.50%. The company’s dividend payout ratio stands at 50.48%.
Analyst Ratings and Insider Activity
Analysts have provided varied insights regarding Emerson Electric’s stock. Citigroup recently increased its price target from $133.00 to $146.00 while maintaining a “buy” rating. Similarly, JPMorgan Chase & Co. raised its target from $113.00 to $133.00 and holds a “neutral” rating. In contrast, TD Cowen upgraded the stock to a “strong-buy” status.
Recently, insider trading activity has also attracted attention. CEO Surendralal Lanca Karsanbhai sold 16,698 shares at an average price of $113.33, resulting in a total transaction value of approximately $1.89 million. Following this sale, Karsanbhai retained 164,957 shares of the company, valued at about $18.69 million. Corporate insiders currently hold 0.50% of Emerson Electric’s stock.
As Emerson Electric continues to navigate its position within the market, its performance, coupled with institutional interest and analyst ratings, suggests a dynamic landscape for potential investors. The company offers various solutions across multiple sectors, including industrial, commercial, and consumer markets globally.
