Federated Hermes Inc. reduced its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 71.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,722 shares of the industrial products company's stock after selling 9,375 shares during the quarter. Federated Hermes Inc.'s holdings in Emerson Electric were worth $461,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Emerson Electric by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 53,536,974 shares of the industrial products company's stock worth $6,634,837,000 after purchasing an additional 384,313 shares during the period. Geode Capital Management LLC raised its holdings in shares of Emerson Electric by 2.0% in 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 acquiring an additional 232,540 shares in the last quarter. Norges Bank purchased a new position in Emerson Electric during the 4th quarter valued at about $885,886,000. Nordea Investment Management AB raised its stake in Emerson Electric by 5.7% in the fourth quarter. Nordea Investment Management AB now owns 7,013,550 shares of the industrial products company's stock worth $871,083,000 after buying an additional 375,470 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in Emerson Electric by 4.1% during the fourth quarter. Schroder Investment Management Group now owns 4,376,492 shares of the industrial products company's stock valued at $542,379,000 after purchasing an additional 171,946 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company's stock.
Analyst Upgrades and Downgrades
EMR has been the subject of a number of analyst reports. Daiwa Capital Markets initiated coverage on shares of Emerson Electric in a research report on Tuesday, January 28th. They set an "outperform" rating and a $147.00 target price for the company. Citigroup dropped their target price on Emerson Electric from $132.00 to $119.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. decreased their price objective on shares of Emerson Electric from $135.00 to $110.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada reissued an "outperform" rating and set a $138.00 target price on shares of Emerson Electric in a research report on Thursday, February 6th. Finally, Daiwa America raised shares of Emerson Electric to a "strong-buy" rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $131.67.
Read Our Latest Research Report on Emerson Electric
Emerson Electric Stock Performance
EMR stock traded up $5.44 during midday trading on Wednesday, hitting $105.23. 817,074 shares of the stock traded hands, compared to its average volume of 3,123,758. The stock's fifty day simple moving average is $110.48 and its 200-day simple moving average is $118.84. The firm has a market cap of $59.34 billion, a P/E ratio of 25.11, a PEG ratio of 2.49 and a beta of 1.28. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $134.85. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.54 and a quick ratio of 1.17.
Emerson Electric (NYSE:EMR - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.10. Emerson Electric had a net margin of 13.74% and a return on equity of 12.08%. On average, analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current year.
Emerson Electric Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $0.5275 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.01%. Emerson Electric's dividend payout ratio (DPR) is presently 50.36%.
About Emerson Electric
(
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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