Adage Capital Partners GP L.L.C. Sells 629,135 Shares of Emerson Electric Co. (NYSE:EMR)

Adage Capital Partners GP L.L.C. lowered its position in Emerson Electric Co. (NYSE:EMR) by 75.4% during the 4th quarter, Holdings Channel reports. The fund owned 205,261 shares of the industrial products company’s stock after selling 629,135 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in Emerson Electric were worth $25,438,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of EMR. Vanguard Group Inc. grew its position in Emerson Electric by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 53,536,974 shares of the industrial products company’s stock valued at $6,634,837,000 after purchasing an additional 384,313 shares during the period. Geode Capital Management LLC grew its holdings in shares of Emerson Electric by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company’s stock valued at $1,443,725,000 after buying an additional 232,540 shares during the last quarter. Norges Bank bought a new stake in shares of Emerson Electric during the fourth quarter worth about $885,886,000. Nordea Investment Management AB raised its holdings in shares of Emerson Electric by 5.7% in the 4th quarter. Nordea Investment Management AB now owns 7,013,550 shares of the industrial products company’s stock worth $871,083,000 after acquiring an additional 375,470 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in Emerson Electric by 4.1% during the 4th quarter. Schroder Investment Management Group now owns 4,376,492 shares of the industrial products company’s stock worth $542,379,000 after purchasing an additional 171,946 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on EMR shares. KeyCorp cut their target price on Emerson Electric from $158.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Daiwa America upgraded shares of Emerson Electric to a “strong-buy” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. cut their price target on shares of Emerson Electric from $135.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Barclays decreased their price objective on shares of Emerson Electric from $105.00 to $99.00 and set an “underweight” rating for the company in a research note on Thursday, April 10th. Finally, Morgan Stanley boosted their target price on Emerson Electric from $105.00 to $112.00 and gave the stock an “underweight” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Emerson Electric presently has a consensus rating of “Moderate Buy” and an average price target of $131.67.

Emerson Electric Stock Up 0.2 %

Emerson Electric stock opened at $105.24 on Friday. The firm has a market capitalization of $59.34 billion, a price-to-earnings ratio of 25.12, a P/E/G ratio of 2.49 and a beta of 1.28. The firm has a 50 day simple moving average of $109.27 and a 200 day simple moving average of $118.63. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $134.85. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.10. Emerson Electric had a return on equity of 12.08% and a net margin of 13.74%. On average, analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Friday, February 14th. Emerson Electric’s dividend payout ratio is presently 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.