Emerson Electric Co. (NYSE:EMR - Get Free Report) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 12,260,000 shares, a growth of 9.1% from the November 30th total of 11,240,000 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average daily trading volume, of 2,930,000 shares, the days-to-cover ratio is presently 4.2 days.
NYSE:EMR traded down $0.33 during trading hours on Wednesday, reaching $123.93. 2,171,566 shares of the stock were exchanged, compared to its average volume of 2,768,892. Emerson Electric has a twelve month low of $91.64 and a twelve month high of $134.85. The business has a 50-day moving average of $125.04 and a two-hundred day moving average of $114.12. The company has a market capitalization of $70.58 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 2.20 and a beta of 1.34. The company has a quick ratio of 1.40, a current ratio of 1.77 and a debt-to-equity ratio of 0.26.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were given a $0.5275 dividend. This is an increase from Emerson Electric's previous quarterly dividend of $0.53. This represents a $2.11 annualized dividend and a yield of 1.70%. The ex-dividend date was Friday, November 15th. Emerson Electric's payout ratio is currently 61.70%.
Several research analysts recently weighed in on EMR shares. Robert W. Baird upped their price target on shares of Emerson Electric from $117.00 to $118.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. Barclays lifted their price target on Emerson Electric from $116.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. Stephens downgraded Emerson Electric from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $135.00 to $120.00 in a research note on Wednesday, October 16th. Royal Bank of Canada dropped their target price on shares of Emerson Electric from $139.00 to $138.00 and set an "outperform" rating for the company in a report on Wednesday, November 6th. Finally, KeyCorp raised their price target on shares of Emerson Electric from $140.00 to $158.00 and gave the stock an "overweight" rating in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $134.58.
Get Our Latest Analysis on Emerson Electric
In other news, SVP Michael H. Train sold 21,525 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $125.96, for a total transaction of $2,711,289.00. Following the sale, the senior vice president now directly owns 262,408 shares in the company, valued at $33,052,911.68. This trade represents a 7.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.50% of the company's stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB grew its position in shares of Emerson Electric by 120.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 56,341 shares of the industrial products company's stock worth $6,162,000 after buying an additional 30,741 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Emerson Electric by 55.0% during the second quarter. Farther Finance Advisors LLC now owns 8,619 shares of the industrial products company's stock worth $931,000 after purchasing an additional 3,060 shares in the last quarter. Geode Capital Management LLC raised its stake in Emerson Electric by 1.4% in the third quarter. Geode Capital Management LLC now owns 11,453,075 shares of the industrial products company's stock valued at $1,247,570,000 after buying an additional 162,985 shares in the last quarter. Bank of Montreal Can lifted its holdings in Emerson Electric by 17.0% during the 2nd quarter. Bank of Montreal Can now owns 1,339,301 shares of the industrial products company's stock worth $152,359,000 after buying an additional 194,944 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC increased its holdings in shares of Emerson Electric by 8.5% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 69,285 shares of the industrial products company's stock valued at $7,578,000 after acquiring an additional 5,416 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company's stock.
Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.
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