Assenagon Asset Management S.A. Buys 100,606 Shares of Emerson Electric Co. $EMR

Key Points

• Assenagon Asset Management S.A. significantly increased its stake in Emerson Electric Co. by 69.7%, acquiring an additional 100,606 shares, bringing its total holdings to 244,991 shares valued at $32.67 million.
• Multiple institutional investors have recently altered their positions in Emerson Electric, with 74.30% of the stock now owned by such investors.
• Analysts have raised their price targets for Emerson Electric, with a consensus rating of "Moderate Buy" and an average target price of $142.39.

Assenagon Asset Management S.A. increased its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 69.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,991 shares of the industrial products company's stock after purchasing an additional 100,606 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Emerson Electric were worth $32,665,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Nuveen LLC bought a new stake in shares of Emerson Electric during the first quarter worth approximately $737,318,000. Pacer Advisors Inc. grew its holdings in Emerson Electric by 4,583.7% during the 1st quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company's stock worth $239,569,000 after acquiring an additional 2,138,397 shares during the period. Alliancebernstein L.P. boosted its position in shares of Emerson Electric by 218.7% in the 1st quarter. Alliancebernstein L.P. now owns 2,468,732 shares of the industrial products company's stock worth $270,672,000 after purchasing an additional 1,693,999 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Emerson Electric by 210.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company's stock worth $215,602,000 after purchasing an additional 1,333,839 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Emerson Electric by 12,707.7% in the first quarter. GAMMA Investing LLC now owns 1,126,441 shares of the industrial products company's stock valued at $123,503,000 after buying an additional 1,117,646 shares during the period. 74.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

EMR has been the subject of several analyst reports. KeyCorp boosted their target price on Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Citigroup increased their price target on shares of Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Wells Fargo & Company increased their target price on shares of Emerson Electric from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Stephens increased their target price on shares of Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Finally, Bank of America increased their target price on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Emerson Electric currently has a consensus rating of "Moderate Buy" and an average target price of $142.39.

Emerson Electric Stock Up 0.4%

NYSE:EMR traded up $0.54 on Monday, hitting $132.88. 3,109,301 shares of the company's stock were exchanged, compared to its average volume of 2,779,784. The firm has a 50-day moving average price of $136.63 and a 200-day moving average price of $123.39. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $150.27. The company has a market cap of $74.78 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 2.51 and a beta of 1.30. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63.

Emerson Electric (NYSE:EMR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.01. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The company had revenue of $4.55 billion during the quarter, compared to analysts' expectations of $4.60 billion. During the same period last year, the firm posted $1.43 earnings per share. The business's revenue was up 3.9% on a year-over-year basis. As a group, analysts expect that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a dividend of $0.5275 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.11 annualized dividend and a dividend yield of 1.6%. Emerson Electric's payout ratio is presently 45.38%.

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.