HITE Hedge Asset Management LLC Invests $4.31 Million in Emerson Electric Co. (NYSE:EMR)

HITE Hedge Asset Management LLC bought a new stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 34,791 shares of the industrial products company's stock, valued at approximately $4,312,000.

A number of other large investors have also bought and sold shares of EMR. Adams Wealth Management raised its stake in Emerson Electric by 3.5% during the 4th quarter. Adams Wealth Management now owns 7,314 shares of the industrial products company's stock worth $906,000 after buying an additional 250 shares during the period. Fairfield Bush & CO. bought a new stake in Emerson Electric during the 4th quarter valued at $238,000. Canada Pension Plan Investment Board raised its holdings in Emerson Electric by 18.7% during the fourth quarter. Canada Pension Plan Investment Board now owns 243,307 shares of the industrial products company's stock worth $30,153,000 after buying an additional 38,397 shares during the last quarter. First Commonwealth Financial Corp PA grew its holdings in shares of Emerson Electric by 4.1% during the fourth quarter. First Commonwealth Financial Corp PA now owns 7,298 shares of the industrial products company's stock valued at $904,000 after buying an additional 290 shares during the last quarter. Finally, Farringdon Capital Ltd. acquired a new stake in shares of Emerson Electric in the 4th quarter worth about $858,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EMR. Royal Bank of Canada restated an "outperform" rating and issued a $138.00 target price on shares of Emerson Electric in a report on Thursday, February 6th. Barclays cut their price objective on shares of Emerson Electric from $105.00 to $99.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th. StockNews.com raised shares of Emerson Electric from a "hold" rating to a "buy" rating in a research report on Wednesday. Daiwa America upgraded shares of Emerson Electric to a "strong-buy" rating in a research note on Tuesday, January 28th. Finally, Citigroup decreased their price target on Emerson Electric from $132.00 to $119.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.67.

Emerson Electric Stock Performance

Shares of NYSE:EMR traded up $2.95 during midday trading on Wednesday, reaching $102.74. 1,896,581 shares of the company traded hands, compared to its average volume of 2,918,126. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $134.85. The firm's fifty day moving average price is $110.48 and its two-hundred day moving average price is $118.84. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $57.94 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 2.49 and a beta of 1.28.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.10. Emerson Electric had a net margin of 13.74% and a return on equity of 12.08%. On average, equities analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $0.5275 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.11 annualized dividend and a dividend yield of 2.05%. Emerson Electric's payout ratio is currently 50.36%.

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.