Choate Investment Advisors reduced its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 6.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 91,262 shares of the industrial products company's stock after selling 6,348 shares during the period. Choate Investment Advisors' holdings in Emerson Electric were worth $11,310,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB grew its position in shares of Emerson Electric by 127.3% during the 3rd quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company's stock valued at $278,285,000 after acquiring an additional 1,424,800 shares during the period. Howard Capital Management Group LLC grew its position in shares of Emerson Electric by 10.6% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,878 shares of the industrial products company's stock valued at $205,000 after acquiring an additional 180 shares during the period. Assetmark Inc. grew its position in shares of Emerson Electric by 16.5% during the 3rd quarter. Assetmark Inc. now owns 7,759 shares of the industrial products company's stock valued at $849,000 after acquiring an additional 1,097 shares during the period. Harbour Investments Inc. grew its position in shares of Emerson Electric by 2.3% during the 3rd quarter. Harbour Investments Inc. now owns 7,353 shares of the industrial products company's stock valued at $804,000 after acquiring an additional 163 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Emerson Electric by 13.3% during the 3rd quarter. Victory Capital Management Inc. now owns 288,443 shares of the industrial products company's stock valued at $31,547,000 after acquiring an additional 33,908 shares during the period. 74.30% of the stock is owned by institutional investors and hedge funds.
Emerson Electric Trading Down 0.6 %
Shares of EMR stock traded down $0.66 during trading on Thursday, hitting $111.73. 3,573,701 shares of the stock traded hands, compared to its average volume of 2,630,483. The firm has a market capitalization of $63.00 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 2.49 and a beta of 1.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.54 and a quick ratio of 1.17. The firm's fifty day moving average price is $121.86 and its 200-day moving average price is $119.02. Emerson Electric Co. has a 52-week low of $96.62 and a 52-week high of $134.85.
Emerson Electric (NYSE:EMR - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.28 by $0.10. Emerson Electric had a net margin of 13.74% and a return on equity of 12.08%. As a group, research analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.
Emerson Electric Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $0.5275 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.11 annualized dividend and a yield of 1.89%. Emerson Electric's dividend payout ratio (DPR) is presently 50.36%.
Analyst Ratings Changes
A number of research firms have recently commented on EMR. JPMorgan Chase & Co. dropped their target price on Emerson Electric from $137.00 to $135.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. Daiwa America raised shares of Emerson Electric to a "strong-buy" rating in a research note on Tuesday, January 28th. Morgan Stanley raised their price target on shares of Emerson Electric from $105.00 to $112.00 and gave the company an "underweight" rating in a research note on Thursday, February 6th. Wells Fargo & Company raised their price target on shares of Emerson Electric from $140.00 to $142.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Finally, Citigroup began coverage on shares of Emerson Electric in a research note on Monday. They issued a "buy" rating and a $132.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $136.22.
Read 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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