Oddo BHF Asset Management Sas acquired a new stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) during the fourth quarter, Holdings Channel.com reports. The firm acquired 8,867 shares of the industrial products company’s stock, valued at approximately $1,177,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Emerson Electric by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 54,909,180 shares of the industrial products company’s stock worth $7,287,546,000 after purchasing an additional 578,242 shares during the last quarter. State Street Corp grew its holdings in shares of Emerson Electric by 2.0% in the fourth quarter. State Street Corp now owns 27,483,440 shares of the industrial products company’s stock worth $3,647,602,000 after purchasing an additional 541,887 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Emerson Electric by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 12,328,324 shares of the industrial products company’s stock worth $1,628,638,000 after purchasing an additional 76,488 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Emerson Electric by 1.3% in the fourth quarter. Wells Fargo & Company MN now owns 10,840,109 shares of the industrial products company’s stock worth $1,438,699,000 after purchasing an additional 134,049 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Emerson Electric in the fourth quarter worth about $1,050,040,000. 74.30% of the stock is currently owned by institutional investors.
Emerson Electric Stock Performance
Shares of Emerson Electric stock opened at $148.89 on Wednesday. Emerson Electric Co. has a 52 week low of $122.64 and a 52 week high of $165.15. The company has a 50 day moving average price of $140.37 and a 200 day moving average price of $140.78. The company has a quick ratio of 0.64, a current ratio of 0.87 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $83.39 billion, a P/E ratio of 34.38, a PEG ratio of 2.34 and a beta of 1.25.
Emerson Electric Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a $0.555 dividend. This represents a $2.22 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, May 15th. Emerson Electric’s dividend payout ratio is presently 51.27%.
Analysts Set New Price Targets
A number of research firms have recently commented on EMR. DA Davidson began coverage on shares of Emerson Electric in a report on Tuesday. They issued a “neutral” rating and a $145.00 price target on the stock. Royal Bank Of Canada increased their target price on shares of Emerson Electric from $161.00 to $169.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Jefferies Financial Group began coverage on shares of Emerson Electric in a research report on Tuesday, March 31st. They set a “buy” rating and a $175.00 target price on the stock. Wells Fargo & Company raised their target price 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. Finally, Wolfe Research decreased their price target on shares of Emerson Electric from $176.00 to $169.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Emerson Electric presently has an average rating of “Moderate Buy” and an average price target of $162.96.
Check Out Our Latest Research Report on EMR
About Emerson Electric
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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