Smithbridge Asset Management Inc. DE acquired a new stake in Emerson Electric Co. (NYSE:EMR - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,400 shares of the industrial products company's stock, valued at approximately $263,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in EMR. Norges Bank bought a new position in shares of Emerson Electric during the 4th quarter valued at $885,886,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Emerson Electric by 3,866.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,022,517 shares of the industrial products company's stock valued at $374,581,000 after buying an additional 2,946,310 shares during the period. Raymond James Financial Inc. bought a new position in shares of Emerson Electric during the 4th quarter valued at $297,947,000. Boston Partners lifted its holdings in shares of Emerson Electric by 136.3% during the 4th quarter. Boston Partners now owns 3,316,466 shares of the industrial products company's stock valued at $411,944,000 after buying an additional 1,913,120 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of Emerson Electric by 234.2% during the 4th quarter. Fisher Asset Management LLC now owns 2,035,934 shares of the industrial products company's stock valued at $252,313,000 after buying an additional 1,426,718 shares during the period. 74.30% of the stock is owned by institutional investors.
Emerson Electric Trading Down 1.0%
Shares of NYSE:EMR traded down $1.27 during trading on Friday, reaching $125.45. The company's stock had a trading volume of 3,368,277 shares, compared to its average volume of 2,954,959. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $70.57 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 2.49 and a beta of 1.28. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $134.85. The firm's 50 day simple moving average is $111.72 and its two-hundred day simple moving average is $118.47.
Emerson Electric (NYSE:EMR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.07. The business had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.42 billion. Emerson Electric had a net margin of 13.74% and a return on equity of 12.08%. The company's quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company posted $1.36 earnings per share. On average, research analysts predict that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.
Emerson Electric Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 1.68%. The ex-dividend date was Friday, May 16th. Emerson Electric's payout ratio is 50.48%.
Insider Activity at Emerson Electric
In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of Emerson Electric stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $113.33, for a total value of $1,892,384.34. Following the transaction, the chief executive officer now directly owns 164,957 shares of the company's stock, valued at approximately $18,694,576.81. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on EMR. Barclays increased their price target on Emerson Electric from $112.00 to $118.00 and gave the company an "underweight" rating in a report on Monday. Royal Bank of Canada increased their price target on Emerson Electric from $123.00 to $124.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on Emerson Electric from $113.00 to $133.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Citigroup upped their price objective on Emerson Electric from $133.00 to $146.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, Robert W. Baird reduced their price objective on Emerson Electric from $140.00 to $130.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $136.47.
Get Our Latest Stock Report on EMR
Emerson Electric Company Profile
(
Free Report)
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.
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