HITE Hedge Asset Management LLC Takes $4.31 Million Position in Emerson Electric Co. (NYSE:EMR)

HITE Hedge Asset Management LLC purchased a new position in Emerson Electric Co. (NYSE:EMR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,791 shares of the industrial products company's stock, valued at approximately $4,312,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC raised its holdings 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 buying an additional 180 shares during the last quarter. Morse Asset Management Inc bought a new stake in shares of Emerson Electric during the third quarter worth about $123,000. Tudor Financial Inc. bought a new position in Emerson Electric in the 3rd quarter valued at about $355,000. Anchor Investment Management LLC boosted its stake in Emerson Electric by 4.4% during the 3rd quarter. Anchor Investment Management LLC now owns 30,627 shares of the industrial products company's stock valued at $3,350,000 after purchasing an additional 1,297 shares during the last quarter. Finally, World Investment Advisors LLC increased its holdings in Emerson Electric by 20.7% during the 3rd quarter. World Investment Advisors LLC now owns 14,744 shares of the industrial products company's stock worth $1,613,000 after purchasing an additional 2,532 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company's stock.

Emerson Electric Stock Performance

EMR stock opened at $99.55 on Friday. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $134.85. The stock's fifty day moving average price is $112.09 and its 200-day moving average price is $119.02. 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 company has a market cap of $56.14 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 2.49 and a beta of 1.28.

Emerson Electric (NYSE:EMR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.38 earnings per share for the quarter, topping 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%. On average, equities analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Dividend Announcement

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 dividend on an annualized basis and a yield of 2.12%. Emerson Electric's dividend payout ratio is currently 50.36%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Daiwa Capital Markets initiated coverage on Emerson Electric in a research report on Tuesday, January 28th. They set an "outperform" rating and a $147.00 target price on the stock. Barclays cut their price objective on shares of Emerson Electric from $105.00 to $99.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th. KeyCorp dropped their price target on shares of Emerson Electric from $158.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. 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 note on Tuesday, April 8th. Finally, Wells Fargo & Company lifted their target price on shares of Emerson Electric from $140.00 to $142.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.67.

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.

Want to see what other hedge funds are holding EMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Emerson Electric Co. (NYSE:EMR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.