Truepoint Inc. cut its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 46.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,054 shares of the industrial products company's stock after selling 24,851 shares during the quarter. Truepoint Inc.'s holdings in Emerson Electric were worth $3,601,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Swedbank AB lifted its holdings 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 worth $278,285,000 after acquiring an additional 1,424,800 shares during the period. Howard Capital Management Group LLC raised its stake in Emerson Electric by 10.6% during the third quarter. Howard Capital Management Group LLC now owns 1,878 shares of the industrial products company's stock worth $205,000 after purchasing an additional 180 shares during the period. Quest Partners LLC grew its stake in shares of Emerson Electric by 664.7% during the 3rd quarter. Quest Partners LLC now owns 3,357 shares of the industrial products company's stock valued at $367,000 after buying an additional 2,918 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Emerson Electric in the 3rd quarter worth $117,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Emerson Electric by 15.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 95,022 shares of the industrial products company's stock worth $10,393,000 after purchasing an additional 12,607 shares during the period. Hedge funds and other institutional investors own 74.30% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on EMR shares. JPMorgan Chase & Co. cut their target price on shares of Emerson Electric from $137.00 to $135.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Royal Bank of Canada reissued an "outperform" rating and issued a $138.00 price objective on shares of Emerson Electric in a research report on Thursday, February 6th. Daiwa Capital Markets began coverage on Emerson Electric in a report on Tuesday, January 28th. They issued an "outperform" rating and a $147.00 price target for the company. KeyCorp lifted their price objective on shares of Emerson Electric from $140.00 to $158.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Finally, 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 report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $136.22.
View Our Latest Research Report on Emerson Electric
Emerson Electric Price Performance
NYSE EMR traded down $0.16 on Tuesday, reaching $115.21. 1,656,154 shares of the stock traded hands, compared to its average volume of 2,660,965. Emerson Electric Co. has a 12 month low of $96.62 and a 12 month high of $134.85. 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's fifty day simple moving average is $121.53 and its 200 day simple moving average is $119.38. The company has a market cap of $64.97 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 2.49 and a beta of 1.36.
Emerson Electric (NYSE:EMR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.38 earnings per share 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 predict that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.
Emerson Electric Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Friday, February 14th. Emerson Electric's dividend payout ratio is presently 50.36%.
Emerson Electric Company Profile
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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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