Manhattan West Asset Management LLC Buys New Stake in Emerson Electric Co. (NYSE:EMR)

Key Points

• Manhattan West Asset Management LLC has taken a new $263,000 stake in Emerson Electric Co., acquiring 2,401 shares during the first quarter.
• Emerson Electric recently reported $1.52 earnings per share for the quarter, slightly exceeding consensus estimates, and announced a quarterly dividend of $0.5275 per share.
• Institutional investors own 74.30% of Emerson Electric's stock, with several firms recently adjusting their ratings and price targets on the stock.

Manhattan West Asset Management LLC purchased a new position in Emerson Electric Co. (NYSE:EMR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,401 shares of the industrial products company's stock, valued at approximately $263,000.

Several other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. grew its stake in shares of Emerson Electric by 9.3% during the first quarter. JPMorgan Chase & Co. now owns 7,166,817 shares of the industrial products company's stock worth $785,770,000 after purchasing an additional 611,105 shares in the last quarter. Northern Trust Corp grew its stake in shares of Emerson Electric by 5.9% during the fourth quarter. Northern Trust Corp now owns 6,676,168 shares of the industrial products company's stock worth $827,377,000 after purchasing an additional 370,560 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Emerson Electric by 9.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,862,749 shares of the industrial products company's stock worth $478,710,000 after purchasing an additional 339,355 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Emerson Electric by 18.0% during the first quarter. Goldman Sachs Group Inc. now owns 3,793,436 shares of the industrial products company's stock worth $415,912,000 after purchasing an additional 579,653 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Emerson Electric by 10.0% during the fourth quarter. Royal Bank of Canada now owns 3,309,998 shares of the industrial products company's stock worth $410,207,000 after purchasing an additional 299,929 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company's stock.

Emerson Electric Trading Down 0.5%

NYSE:EMR traded down $0.72 during trading hours on Monday, reaching $132.02. 2,259,011 shares of the company were exchanged, compared to its average volume of 3,730,385. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63. The firm has a market cap of $74.30 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 2.59 and a beta of 1.32. Emerson Electric Co. has a 52-week low of $90.06 and a 52-week high of $150.27. The stock has a 50 day simple moving average of $135.34 and a 200 day simple moving average of $121.59.

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

Emerson Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.5275 per share. The ex-dividend date is Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.6%. Emerson Electric's payout ratio is currently 45.38%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Robert W. Baird reduced their price target on shares of Emerson Electric from $140.00 to $130.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Bank of America boosted their price target on shares of Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen raised shares of Emerson Electric from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Barclays raised shares of Emerson Electric from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $125.00 to $127.00 in a research report on Thursday. Finally, Stephens upped their target price on shares of Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $142.39.

About Emerson Electric

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.