Payden & Rygel cut its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 31.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,500 shares of the industrial products company's stock after selling 40,400 shares during the period. Payden & Rygel's holdings in Emerson Electric were worth $10,720,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Wedbush Securities Inc. lifted its stake in shares of Emerson Electric by 6.8% during the 4th quarter. Wedbush Securities Inc. now owns 10,319 shares of the industrial products company's stock worth $1,279,000 after acquiring an additional 658 shares during the last quarter. Perennial Investment Advisors LLC raised its holdings in Emerson Electric by 5.9% in the fourth quarter. Perennial Investment Advisors LLC now owns 2,171 shares of the industrial products company's stock worth $269,000 after purchasing an additional 121 shares in the last quarter. KCM Investment Advisors LLC boosted its stake in Emerson Electric by 0.8% in the fourth quarter. KCM Investment Advisors LLC now owns 14,094 shares of the industrial products company's stock valued at $1,747,000 after acquiring an additional 109 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in Emerson Electric during the 4th quarter worth $22,900,000. Finally, Islay Capital Management LLC increased its holdings in shares of Emerson Electric by 2.9% during the fourth quarter. Islay Capital Management LLC now owns 4,477 shares of the industrial products company's stock valued at $555,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 74.30% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Jefferies Financial Group initiated coverage on Emerson Electric in a research report on Thursday, December 12th. They issued a "buy" rating and a $160.00 target price on the stock. JPMorgan Chase & Co. reduced their price target 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. 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 research note on Thursday. KeyCorp lowered their price target on shares of Emerson Electric from $158.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Citigroup began coverage on Emerson Electric in a report on Monday, March 17th. They issued a "buy" rating and a $132.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $132.39.
Check Out Our Latest Stock Report on Emerson Electric
Emerson Electric Trading Down 4.3 %
Emerson Electric stock traded down $4.48 during trading on Thursday, reaching $99.95. 1,803,569 shares of the company were exchanged, compared to its average volume of 2,881,574. 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 stock's 50 day simple moving average is $115.29 and its two-hundred day simple moving average is $119.42. The company has a market capitalization of $56.36 billion, a P/E ratio of 23.68, a PEG ratio of 2.49 and a beta of 1.28. Emerson Electric Co. has a 52-week low of $90.06 and a 52-week high of $134.85.
Emerson Electric (NYSE:EMR - Get Free Report) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.38 EPS for the quarter, topping 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, equities research analysts expect 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 was Friday, February 14th. This represents a $2.11 annualized dividend and a yield of 2.11%. Emerson Electric's dividend payout ratio (DPR) is presently 50.36%.
Emerson Electric 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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