Principal Financial Group Inc. Has $88.92 Million Stock Position in Emerson Electric Co. (NYSE:EMR)

Principal Financial Group Inc. lifted its position in Emerson Electric Co. (NYSE:EMR) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 812,976 shares of the industrial products company’s stock after buying an additional 23,205 shares during the quarter. Principal Financial Group Inc. owned about 0.14% of Emerson Electric worth $88,915,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EMR. State Street Corp raised its holdings in shares of Emerson Electric by 6.2% in the 3rd quarter. State Street Corp now owns 25,810,167 shares of the industrial products company’s stock valued at $2,822,858,000 after purchasing an additional 1,507,980 shares during the period. Wellington Management Group LLP increased its position in Emerson Electric by 4.2% during the third quarter. Wellington Management Group LLP now owns 14,552,544 shares of the industrial products company’s stock worth $1,591,612,000 after buying an additional 581,102 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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 during the last quarter. Newport Trust Company LLC bought a new position in shares of Emerson Electric during the 2nd quarter worth approximately $574,908,000. Finally, Legal & General Group Plc increased its holdings in shares of Emerson Electric by 5.2% during the 2nd quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock worth $496,877,000 after acquiring an additional 224,784 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EMR has been the subject of a number of research analyst reports. StockNews.com raised shares of Emerson Electric from a “hold” rating to a “buy” rating in a research report on Sunday, December 8th. BNP Paribas assumed coverage on shares of Emerson Electric in a report on Wednesday, November 13th. They issued an “outperform” rating and a $155.00 price target on the stock. Robert W. Baird boosted their price objective on Emerson Electric from $117.00 to $118.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Stephens cut Emerson Electric from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $135.00 to $120.00 in a report on Wednesday, October 16th. Finally, Jefferies Financial Group began coverage on Emerson Electric in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.58.

Insider Buying and Selling at Emerson Electric

In other Emerson Electric news, SVP Michael H. Train sold 21,525 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $125.96, for a total value of $2,711,289.00. Following the completion of the transaction, the senior vice president now directly owns 262,408 shares in the company, valued at approximately $33,052,911.68. This trade represents a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.25% of the company’s stock.

Emerson Electric Stock Performance

Emerson Electric stock opened at $124.09 on Friday. The stock has a market cap of $70.67 billion, a PE ratio of 36.28, a P/E/G 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. Emerson Electric Co. has a 12-month low of $91.64 and a 12-month high of $134.85. The business’s 50-day moving average price is $122.97 and its two-hundred day moving average price is $113.22.

Emerson Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were paid a $0.5275 dividend. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.11 annualized dividend and a yield of 1.70%. Emerson Electric’s dividend payout ratio is presently 61.70%.

Emerson Electric Company Profile

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.