Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Boosts Stake in Emerson Electric Co. (NYSE:EMR)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Emerson Electric Co. (NYSE:EMRGet Rating) by 7.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 371,139 shares of the industrial products company’s stock after purchasing an additional 24,588 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned 0.06% of Emerson Electric worth $36,390,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EMR. Norges Bank purchased a new stake in Emerson Electric during the 4th quarter valued at about $558,176,000. Nordea Investment Management AB boosted its holdings in Emerson Electric by 396.8% during the 1st quarter. Nordea Investment Management AB now owns 4,231,968 shares of the industrial products company’s stock valued at $420,996,000 after acquiring an additional 3,380,171 shares during the period. Renaissance Technologies LLC purchased a new stake in Emerson Electric during the 4th quarter valued at about $149,620,000. Goldman Sachs Group Inc. boosted its holdings in Emerson Electric by 55.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,508,070 shares of the industrial products company’s stock valued at $326,145,000 after acquiring an additional 1,246,143 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Emerson Electric by 15,069.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 828,544 shares of the industrial products company’s stock valued at $81,239,000 after acquiring an additional 823,082 shares during the period. 73.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EMR has been the subject of several analyst reports. Oppenheimer dropped their target price on Emerson Electric from $115.00 to $110.00 in a report on Monday, May 9th. Mizuho decreased their target price on Emerson Electric from $100.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, July 18th. Credit Suisse Group set a $107.00 target price on Emerson Electric in a research report on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft decreased their target price on Emerson Electric from $110.00 to $97.00 and set a “buy” rating for the company in a research report on Wednesday, July 13th. Finally, Morgan Stanley cut their price target on Emerson Electric from $101.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 31st. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Emerson Electric has an average rating of “Moderate Buy” and a consensus target price of $99.50.

Emerson Electric Stock Performance

EMR stock opened at $90.39 on Friday. The company has a market cap of $53.69 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 2.09 and a beta of 1.41. Emerson Electric Co. has a 1 year low of $76.16 and a 1 year high of $105.99. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.68 and a quick ratio of 1.38. The stock’s fifty day moving average price is $84.02 and its 200-day moving average price is $89.58.

Emerson Electric (NYSE:EMRGet Rating) last announced its earnings results on Wednesday, May 4th. The industrial products company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.11. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Emerson Electric had a return on equity of 27.72% and a net margin of 15.16%. Emerson Electric’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. On average, equities analysts forecast that Emerson Electric Co. will post 5.05 earnings per share for the current year.

Emerson Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Friday, August 12th will be issued a $0.515 dividend. The ex-dividend date is Thursday, August 11th. This represents a $2.06 annualized dividend and a dividend yield of 2.28%. Emerson Electric’s dividend payout ratio (DPR) is 43.10%.

Emerson Electric Company Profile

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Emerson Electric Co, a technology and engineering company, provides various solutions for customers in industrial, commercial, and residential markets in the Americas, Asia, the Middle East, Africa, and Europe. The company operates through Automation Solutions, and Commercial & Residential Solutions segments.

See Also

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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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