Emerson Electric Co. $EMR Stock Purchased by Fisher Asset Management LLC

Key Points

• Fisher Asset Management increased its Emerson Electric stake by 9.6% in the third quarter, adding 900,724 shares to hold about 10.33 million shares, worth roughly $1.60 billion. Institutional investors collectively own 74.3% of the company.
• Emerson beat quarterly estimates, reporting adjusted earnings of $1.86 per share and revenue of $5.20 billion. It also raised its quarterly dividend from $0.555 to $0.595 per share.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $175.58; recent targets include KeyCorp’s $200 and HSBC’s and Mizuho’s $180.

Fisher Asset Management LLC boosted its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 9.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 10,327,433 shares of the industrial products company's stock after acquiring an additional 900,724 shares during the period. Fisher Asset Management LLC owned 1.84% of Emerson Electric worth $1,601,785,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in EMR. BlackRock Inc. bought a new position in shares of Emerson Electric in the 2nd quarter worth $6,193,425,000. State Street Corp grew its stake in shares of Emerson Electric by 1.5% during the second quarter. State Street Corp now owns 27,678,497 shares of the industrial products company's stock worth $3,962,177,000 after purchasing an additional 403,957 shares during the period. Bank of America Corp DE increased its holdings in Emerson Electric by 13.1% in the first quarter. Bank of America Corp DE now owns 19,941,844 shares of the industrial products company's stock valued at $2,612,780,000 after purchasing an additional 2,302,055 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Emerson Electric by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 6,315,661 shares of the industrial products company's stock valued at $827,478,000 after purchasing an additional 117,513 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in Emerson Electric in the second quarter valued at about $613,846,000. Institutional investors own 74.30% of the company's stock.

Emerson Electric Price Performance

EMR opened at $167.22 on Friday. The stock has a market cap of $91.74 billion, a P/E ratio of 25.43, a P/E/G ratio of 2.34 and a beta of 1.23. Emerson Electric Co. has a 12 month low of $122.64 and a 12 month high of $172.00. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $159.25 and a 200 day simple moving average of $147.99.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its earnings results on Wednesday, November 4th. The industrial products company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.01. Emerson Electric had a return on equity of 18.08% and a net margin of 14.15%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same period in the previous year, the company posted $1.62 earnings per share. The company's revenue for the quarter was up .0% on a year-over-year basis. On average, research analysts expect that Emerson Electric Co. will post 7.37 EPS for the current year.

Emerson Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be given a dividend of $0.5950 per share. This is an increase from Emerson Electric's previous quarterly dividend of $0.5550. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 13th. Emerson Electric's payout ratio is 46.44%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. HSBC raised their target price on Emerson Electric from $170.00 to $180.00 in a report on Thursday, August 6th. Mizuho upped their price target on Emerson Electric from $173.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday, October 15th. KeyCorp increased their price target on shares of Emerson Electric from $170.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, November 5th. JPMorgan Chase & Co. lifted their price objective on shares of Emerson Electric from $169.00 to $184.00 and gave the stock an "overweight" rating in a research note on Friday, October 9th. Finally, TD Cowen boosted their price objective on shares of Emerson Electric from $150.00 to $170.00 and gave the company a "hold" rating in a report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $175.58.

Emerson Electric Profile

Emerson Electric Co. is a global technology and engineering company focused on automation. It develops products and systems that help industrial and commercial customers monitor and control operations, including measurement instruments, control systems, valves, actuators, and industrial software. The company serves customers across industries and regions worldwide. Its portfolio includes technologies for process and factory automation, as well as software used to design, operate, and optimize industrial facilities.

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