Mystic Asset Management Inc. Takes $448,000 Position in Emerson Electric Co. (NYSE:EMR)

Mystic Asset Management Inc. acquired a new stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,611 shares of the industrial products company's stock, valued at approximately $448,000.

Other hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in Emerson Electric by 6.2% during the 3rd quarter. State Street Corp now owns 25,810,167 shares of the industrial products company's stock valued at $2,822,858,000 after purchasing an additional 1,507,980 shares during the period. Wellington Management Group LLP lifted its position in shares of Emerson Electric by 4.2% in the 3rd quarter. Wellington Management Group LLP now owns 14,552,544 shares of the industrial products company's stock worth $1,591,612,000 after acquiring an additional 581,102 shares during the period. Geode Capital Management LLC lifted its position in shares of Emerson Electric by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 11,453,075 shares of the industrial products company's stock worth $1,247,570,000 after acquiring an additional 162,985 shares during the period. Nordea Investment Management AB lifted its position in shares of Emerson Electric by 5.7% in the 4th quarter. Nordea Investment Management AB now owns 7,013,550 shares of the industrial products company's stock worth $871,083,000 after acquiring an additional 375,470 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Emerson Electric by 3.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,523,394 shares of the industrial products company's stock worth $385,354,000 after acquiring an additional 132,186 shares during the period. Institutional investors and hedge funds own 74.30% of the company's stock.

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Emerson Electric Trading Up 1.0 %

Shares of NYSE:EMR traded up $1.12 during midday trading on Friday, hitting $112.92. The company had a trading volume of 9,228,719 shares, compared to its average volume of 2,656,131. Emerson Electric Co. has a 12 month low of $96.62 and a 12 month high of $134.85. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25. The stock has a market cap of $63.67 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 2.49 and a beta of 1.36. The firm has a fifty day simple moving average of $121.60 and a 200 day simple moving average of $119.02.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.10. Emerson Electric had a return on equity of 12.08% and a net margin of 13.74%. On average, analysts predict that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $0.5275 per share. The ex-dividend date was Friday, February 14th. This represents a $2.11 annualized dividend and a yield of 1.87%. Emerson Electric's dividend payout ratio is presently 50.36%.

Analysts Set New Price Targets

A number of brokerages have commented on EMR. Wells Fargo & Company raised their price objective on Emerson Electric from $140.00 to $142.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. cut their target price on Emerson Electric from $137.00 to $135.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. KeyCorp raised their target price on Emerson Electric from $140.00 to $158.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. StockNews.com downgraded Emerson Electric from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Finally, Citigroup began coverage on Emerson Electric in a research report on Monday, March 17th. They set a "buy" rating and a $132.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $136.22.

Emerson Electric Company Profile

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.