United Bank raised its position in Emerson Electric Co. (NYSE:EMR – Free Report) by 128.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,467 shares of the industrial products company’s stock after purchasing an additional 7,001 shares during the period. United Bank’s holdings in Emerson Electric were worth $1,633,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Murphy Middleton Hinkle & Parker Inc. lifted its position in Emerson Electric by 229.1% in the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 46,467 shares of the industrial products company’s stock valued at $6,167,000 after acquiring an additional 32,346 shares in the last quarter. Forbes J M & Co. LLP increased its holdings in Emerson Electric by 692.5% during the 4th quarter. Forbes J M & Co. LLP now owns 95,811 shares of the industrial products company’s stock worth $12,716,000 after purchasing an additional 83,721 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Emerson Electric by 863.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 548,823 shares of the industrial products company’s stock valued at $72,840,000 after purchasing an additional 491,883 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Emerson Electric by 14.8% in the fourth quarter. Fisher Asset Management LLC now owns 7,191,118 shares of the industrial products company’s stock valued at $954,405,000 after purchasing an additional 928,548 shares in the last quarter. Finally, BNP Paribas boosted its position in shares of Emerson Electric by 257.7% during the third quarter. BNP Paribas now owns 104,357 shares of the industrial products company’s stock worth $13,694,000 after buying an additional 75,180 shares during the period. 74.30% of the stock is owned by institutional investors.
Emerson Electric Stock Up 0.8%
Shares of NYSE EMR traded up $1.10 during trading hours on Friday, hitting $138.90. The company had a trading volume of 1,563,376 shares, compared to its average volume of 2,681,216. Emerson Electric Co. has a 1-year low of $122.64 and a 1-year high of $165.15. The company has a quick ratio of 0.64, a current ratio of 0.87 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $140.81 and its 200-day moving average is $141.76. The stock has a market capitalization of $77.80 billion, a P/E ratio of 32.08, a price-to-earnings-growth ratio of 2.22 and a beta of 1.25.
Emerson Electric Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were issued a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, May 15th. Emerson Electric’s dividend payout ratio is presently 51.27%.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on EMR shares. Wolfe Research cut their target price on Emerson Electric from $176.00 to $169.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Daiwa Securities Group reduced their target price on shares of Emerson Electric from $177.00 to $156.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Royal Bank Of Canada raised their target price on shares of Emerson Electric from $161.00 to $169.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Sanford C. Bernstein started coverage on shares of Emerson Electric in a research report on Wednesday, June 10th. They set an “outperform” rating and a $175.00 price target on the stock. Finally, BMO Capital Markets increased their price objective on shares of Emerson Electric from $150.00 to $157.00 in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.32.
View Our Latest Analysis on EMR
Emerson Electric Company Profile
Emerson Electric Co is a global technology and engineering company that designs and manufactures products and provides services for industrial, commercial and consumer markets. Founded in 1890, the company is headquartered in St. Louis, Missouri, and has built a long-standing presence in automation, control and climate-related technologies. Emerson’s offerings are aimed at improving productivity, energy efficiency and reliability for a wide range of end markets.
Emerson operates through two principal platforms—Automation Solutions and Commercial & Residential Solutions—providing process automation systems, measurement and analytical instrumentation, valves and actuators, control software, and related aftermarket services, alongside products for heating, ventilation and refrigeration, residential and commercial climate controls, tools and storage solutions.
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