Resona Asset Management Co. Ltd. Acquires 11,461 Shares of Emerson Electric Co. (NYSE:EMR)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Emerson Electric Co. by 6.2%, acquiring an additional 11,461 shares, bringing their total holdings to 195,693 shares valued at approximately $21.4 million.
• Emerson Electric's stock price was reported at $133.06, with a market capitalization of $74.89 billion and a price-to-earnings ratio of 28.62.
• The company recently announced a quarterly dividend of $0.5275 per share, with a dividend yield of 1.6%, to be paid on September 10th.

Resona Asset Management Co. Ltd. raised its position in Emerson Electric Co. (NYSE:EMR - Free Report) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,693 shares of the industrial products company's stock after buying an additional 11,461 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Emerson Electric were worth $21,415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EMR. Westpac Banking Corp lifted its position in shares of Emerson Electric by 70.3% during the 1st quarter. Westpac Banking Corp now owns 3,497 shares of the industrial products company's stock valued at $383,000 after acquiring an additional 1,444 shares during the period. HighTower Advisors LLC lifted its position in shares of Emerson Electric by 1.6% during the 1st quarter. HighTower Advisors LLC now owns 716,343 shares of the industrial products company's stock valued at $78,540,000 after acquiring an additional 11,097 shares during the period. Public Sector Pension Investment Board lifted its position in shares of Emerson Electric by 6.9% during the 1st quarter. Public Sector Pension Investment Board now owns 76,002 shares of the industrial products company's stock valued at $8,333,000 after acquiring an additional 4,874 shares during the period. AIA Group Ltd lifted its position in shares of Emerson Electric by 120.6% during the 1st quarter. AIA Group Ltd now owns 5,451 shares of the industrial products company's stock valued at $598,000 after acquiring an additional 2,980 shares during the period. Finally, Longfellow Investment Management Co. LLC lifted its position in shares of Emerson Electric by 89.3% during the 1st quarter. Longfellow Investment Management Co. LLC now owns 9,101 shares of the industrial products company's stock valued at $998,000 after acquiring an additional 4,293 shares during the period. 74.30% of the stock is owned by institutional investors and hedge funds.

Emerson Electric Trading Down 1.9%

Shares of EMR stock traded down $2.59 on Friday, hitting $131.78. The company had a trading volume of 3,316,383 shares, compared to its average volume of 3,822,612. The firm has a market cap of $74.17 billion, a P/E ratio of 28.34, a P/E/G ratio of 2.62 and a beta of 1.32. The stock's 50-day moving average is $136.53 and its two-hundred day moving average is $121.82. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $150.27.

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

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 15th. Emerson Electric's dividend payout ratio (DPR) is 45.38%.

Analysts Set New Price Targets

EMR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Stephens upped their price objective on Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Barclays upgraded Emerson Electric from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $125.00 to $127.00 in a research report on Thursday, August 7th. Wells Fargo & Company upped their price objective on Emerson Electric from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, Bank of America upped their price objective on Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $142.39.

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.