5 Best Automation Stocks To Buy Now

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In this article, we discuss 5 best automation stocks to buy now. If you want to see more stocks in this selection, check out 12 Best Automation Stocks To Buy Now

5. Emerson Electric Co. (NYSE:EMR)

Number of Hedge Fund Holders: 48

Emerson Electric Co. (NYSE:EMR) is a technology and engineering company that offers solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. The company operates through Automation Solutions, AspenTech, and Commercial & Residential Solutions segments. On November 2, Emerson Electric Co. (NYSE:EMR) declared a $0.52 per share quarterly dividend, a 1% increase from its prior dividend of $0.515. The dividend was paid to shareholders on December 9. 

On November 30, RBC Capital analyst Deane Dray raised the price target on Emerson Electric Co. (NYSE:EMR) to $110 from $102 and maintained an Outperform rating on the shares. The analyst cited the company’s presentation at the annual analyst meeting, highlighting its roadmap as the new automation pure-play. The analyst added that given how Emerson Electric Co. (NYSE:EMR) is expected to exit FY23 on a net-cash basis, investors will be “riveted” by the company’s capital deployment impact on organic growth, M&A, buybacks, and the 66 years of dividend hikes.

According to Insider Monkey’s Q3 data, 48 hedge funds were bullish on Emerson Electric Co. (NYSE:EMR), compared to 47 funds in the prior quarter. D E Shaw is the largest stakeholder of the company, with nearly 2 million shares worth $145 million. 

Follow Emerson Electric Co (NYSE:EMR)

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