Summit Financial LLC Purchases 11,007 Shares of Emerson Electric Co. (NYSE:EMR)

Summit Financial LLC grew its position in Emerson Electric Co. (NYSE:EMR) by 136.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,094 shares of the industrial products company’s stock after purchasing an additional 11,007 shares during the period. Summit Financial LLC’s holdings in Emerson Electric were worth $2,366,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Stephens Consulting LLC acquired a new position in Emerson Electric during the 4th quarter worth approximately $25,000. Sugar Maple Asset Management LLC acquired a new position in Emerson Electric during the fourth quarter worth $27,000. Murphy & Mullick Capital Management Corp bought a new position in Emerson Electric in the fourth quarter valued at $28,000. YANKCOM Partnership bought a new stake in Emerson Electric during the 4th quarter worth about $30,000. Finally, Fiduciary Advisors Inc. acquired a new position in shares of Emerson Electric during the 4th quarter worth about $35,000. 74.30% of the stock is currently owned by institutional investors.

Emerson Electric Stock Performance

EMR opened at $109.74 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.54 and a quick ratio of 1.17. The company has a market capitalization of $61.88 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 2.49 and a beta of 1.36. The business has a fifty day simple moving average of $120.46 and a 200 day simple moving average of $119.81. Emerson Electric Co. has a 1 year low of $96.62 and a 1 year high of $134.85.

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

Emerson Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Friday, February 14th. Emerson Electric’s dividend payout ratio (DPR) is currently 50.36%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on EMR shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $138.00 target price on shares of Emerson Electric in a research report on Thursday, February 6th. Citigroup began coverage on Emerson Electric in a report on Monday, March 17th. They issued a “buy” rating and a $132.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on shares of Emerson Electric from $137.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Wells Fargo & Company increased their price target on shares of Emerson Electric from $140.00 to $142.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, StockNews.com lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.94.

Emerson Electric Company Profile

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.