Sun Sep 15 11:41:32 UTC 2024: ## AGF Management Cuts Emerson Electric Stake, Other Investors Show Interest
**New York, NY – September 15, 2024** – AGF Management Ltd. has reduced its stake in Emerson Electric Co. (NYSE: EMR) by 14.7% during the second quarter, according to the company’s recent Form 13F filing with the SEC. The fund now owns 16,226 shares of the industrial products company, valued at $1,787,000.
While AGF Management trimmed its position, several other hedge funds have shown interest in EMR. Security National Bank acquired a new stake in the fourth quarter, valued at $29,000. Cape Investment Advisory Inc. increased its stake by 148% in the same period, now owning 315 shares worth $31,000. Transcendent Capital Group LLC and Burkett Financial Services LLC also purchased new stakes in the first and fourth quarters, respectively, while Tributary Capital Management LLC bought a new stake in the first quarter.
Emerson Electric opened at $102.03 on Friday. The company boasts a market capitalization of $58.43 billion, a price-to-earnings ratio of 5.46, a PEG ratio of 1.66, and a beta of 1.30. The stock has a 52-week low of $83.10 and a 52-week high of $119.53.
The company recently declared a quarterly dividend of $0.525, paid on September 10th, representing a $2.10 annualized dividend and a yield of 2.06%. Emerson Electric’s dividend payout ratio currently stands at 11.24%.
Analyst sentiment towards Emerson Electric remains positive, with thirteen analysts assigning a “buy” rating, five issuing a “hold” rating, and one recommending a “sell.” MarketBeat.com assigns an average rating of “Moderate Buy” with a consensus target price of $124.06.
Emerson Electric is a technology and software company providing solutions to industrial, commercial, and consumer markets across the globe. Its operations are divided into six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.
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