State Street Corp increased its stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,483,440 shares of the industrial products company’s stock after acquiring an additional 541,887 shares during the quarter. State Street Corp’s holdings in Emerson Electric were worth $3,647,602,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of EMR. Rooted Wealth Advisors Inc. lifted its position in shares of Emerson Electric by 3.0% during the 4th quarter. Rooted Wealth Advisors Inc. now owns 2,195 shares of the industrial products company’s stock valued at $291,000 after acquiring an additional 64 shares during the period. Institute for Wealth Management LLC. lifted its position in shares of Emerson Electric by 1.6% during the 4th quarter. Institute for Wealth Management LLC. now owns 4,546 shares of the industrial products company’s stock valued at $603,000 after acquiring an additional 71 shares during the period. Cary Street Partners Investment Advisory LLC lifted its position in shares of Emerson Electric by 2.4% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 3,098 shares of the industrial products company’s stock valued at $411,000 after acquiring an additional 72 shares during the period. Cornell Pochily Investment Advisors Inc. lifted its position in shares of Emerson Electric by 0.3% during the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 29,260 shares of the industrial products company’s stock valued at $3,883,000 after acquiring an additional 76 shares during the period. Finally, Zhang Financial LLC lifted its position in shares of Emerson Electric by 2.7% during the 4th quarter. Zhang Financial LLC now owns 2,892 shares of the industrial products company’s stock valued at $384,000 after acquiring an additional 76 shares during the period. Institutional investors own 74.30% of the company’s stock.
Emerson Electric Stock Performance
Shares of EMR opened at $143.06 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.64 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $80.13 billion, a price-to-earnings ratio of 33.04, a PEG ratio of 2.27 and a beta of 1.25. The stock has a 50 day moving average of $139.73 and a 200 day moving average of $140.47. Emerson Electric Co. has a 12 month low of $122.64 and a 12 month high of $165.15.
Emerson Electric Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, May 15th. Emerson Electric’s dividend payout ratio (DPR) is 51.27%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. Daiwa Securities Group dropped their target price on shares of Emerson Electric from $177.00 to $156.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. Wolfe Research lowered their price objective on shares of Emerson Electric from $176.00 to $169.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Barclays upped their price objective on shares of Emerson Electric from $140.00 to $144.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Sanford C. Bernstein initiated coverage on shares of Emerson Electric in a report on Wednesday. They set an “outperform” rating and a $175.00 price objective on the stock. Finally, Royal Bank Of Canada upped their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Emerson Electric has an average rating of “Moderate Buy” and a consensus price target of $163.77.
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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