Lord Abbett & CO. LLC Grows Position in Emerson Electric Co. (NYSE:EMR)

Lord Abbett & CO. LLC lifted its stake in Emerson Electric Co. (NYSE:EMR) by 14.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 944,761 shares of the industrial products company’s stock after purchasing an additional 116,844 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Emerson Electric were worth $117,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Emerson Electric by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 53,536,974 shares of the industrial products company’s stock worth $6,634,837,000 after purchasing an additional 384,313 shares during the period. Geode Capital Management LLC increased its stake in Emerson Electric by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company’s stock worth $1,443,725,000 after buying an additional 232,540 shares in the last quarter. Norges Bank bought a new stake in Emerson Electric during the fourth quarter valued at about $885,886,000. Nordea Investment Management AB boosted its stake in shares of Emerson Electric by 5.7% in the fourth quarter. Nordea Investment Management AB now owns 7,013,550 shares of the industrial products company’s stock worth $871,083,000 after acquiring an additional 375,470 shares during the period. Finally, Schroder Investment Management Group grew its position in shares of Emerson Electric by 4.1% during the fourth quarter. Schroder Investment Management Group now owns 4,376,492 shares of the industrial products company’s stock worth $542,379,000 after purchasing an additional 171,946 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Stock Performance

Emerson Electric stock opened at $105.04 on Friday. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $134.85. The company’s 50-day moving average is $109.67 and its 200 day moving average is $118.66. The firm has a market capitalization of $59.23 billion, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 2.49 and a beta of 1.28. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.54 and a quick ratio of 1.17.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. Emerson Electric had a return on equity of 12.08% and a net margin of 13.74%. Research analysts forecast that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a dividend of $0.5275 per share. The ex-dividend date was Friday, February 14th. This represents a $2.11 dividend on an annualized basis and a yield of 2.01%. Emerson Electric’s payout ratio is 50.36%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EMR. KeyCorp dropped their price target on Emerson Electric from $158.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Citigroup reduced their price target on shares of Emerson Electric from $132.00 to $119.00 and set a “buy” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. reduced their target price on Emerson Electric from $135.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada reissued an “outperform” rating and set a $138.00 price target on shares of Emerson Electric in a research note on Thursday, February 6th. Finally, Daiwa Capital Markets initiated coverage on Emerson Electric in a research note on Tuesday, January 28th. They issued an “outperform” rating and a $147.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.67.

About Emerson Electric

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.