Empowered Funds LLC grew its holdings in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 245.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,525 shares of the industrial products company’s stock after buying an additional 60,075 shares during the quarter. Empowered Funds LLC’s holdings in Emerson Electric were worth $11,074,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Emerson Electric in the 4th quarter valued at approximately $1,050,040,000. Bank of New York Mellon Corp increased its position in shares of Emerson Electric by 17.8% during the 4th quarter. Bank of New York Mellon Corp now owns 6,198,148 shares of the industrial products company’s stock valued at $822,618,000 after purchasing an additional 938,051 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Emerson Electric by 14.8% during the 4th quarter. Fisher Asset Management LLC now owns 7,191,118 shares of the industrial products company’s stock valued at $954,405,000 after buying an additional 928,548 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its position in Emerson Electric by 97.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,707,873 shares of the industrial products company’s stock worth $227,783,000 after buying an additional 843,526 shares during the last quarter. Finally, Boston Partners lifted its position in Emerson Electric by 34.0% in the third quarter. Boston Partners now owns 2,860,894 shares of the industrial products company’s stock worth $375,547,000 after buying an additional 726,477 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.
Emerson Electric Trading Up 1.9%
Shares of EMR opened at $148.49 on Friday. The firm has a market capitalization of $83.17 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 2.33 and a beta of 1.25. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.87 and a quick ratio of 0.64. Emerson Electric Co. has a 1-year low of $122.64 and a 1-year high of $165.15. The company has a 50-day moving average of $142.10 and a 200 day moving average of $142.20.
Emerson Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, May 15th. Emerson Electric’s dividend payout ratio (DPR) is presently 51.27%.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on EMR. Wells Fargo & Company boosted their price objective on shares of Emerson Electric from $135.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. KeyCorp dropped their price target on shares of Emerson Electric from $185.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Barclays upped their price target on shares of Emerson Electric from $140.00 to $144.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Daiwa Securities Group decreased their price objective on shares of Emerson Electric from $177.00 to $156.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. Finally, DA Davidson started coverage on Emerson Electric in a research report on Tuesday, June 16th. They set a “neutral” rating and a $145.00 target price for the company. Thirteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $162.36.
View Our Latest Report on Emerson Electric
Emerson Electric Company Profile
Emerson Electric Co is a global technology and engineering company that designs and manufactures products and provides services for industrial, commercial and consumer markets. Founded in 1890, the company is headquartered in St. Louis, Missouri, and has built a long-standing presence in automation, control and climate-related technologies. Emerson’s offerings are aimed at improving productivity, energy efficiency and reliability for a wide range of end markets.
Emerson operates through two principal platforms—Automation Solutions and Commercial & Residential Solutions—providing process automation systems, measurement and analytical instrumentation, valves and actuators, control software, and related aftermarket services, alongside products for heating, ventilation and refrigeration, residential and commercial climate controls, tools and storage solutions.
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