Prosperity Wealth Management Inc. Decreases Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Prosperity Wealth Management Inc. lowered its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 35.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,736 shares of the industrial products company's stock after selling 2,592 shares during the quarter. Prosperity Wealth Management Inc.'s holdings in Emerson Electric were worth $587,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EMR. Capital Performance Advisors LLP bought a new position in Emerson Electric in the 3rd quarter worth approximately $25,000. Stephens Consulting LLC bought a new position in Emerson Electric in the 4th quarter worth approximately $25,000. Sugar Maple Asset Management LLC bought a new position in Emerson Electric in the 4th quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new position in Emerson Electric in the 3rd quarter worth approximately $29,000. Finally, YANKCOM Partnership bought a new position in Emerson Electric in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 74.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com downgraded Emerson Electric from a "buy" rating to a "hold" rating in a research report on Monday. Jefferies Financial Group assumed coverage on Emerson Electric in a research report on Thursday, December 12th. They set a "buy" rating and a $160.00 target price for the company. Loop Capital increased their target price on Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. Barclays lowered Emerson Electric from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $135.00 to $110.00 in a report on Monday. Finally, UBS Group assumed coverage on Emerson Electric in a report on Wednesday, November 13th. They set a "neutral" rating and a $135.00 price target on the stock. 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 company's stock. Based on data from MarketBeat.com, Emerson Electric has an average rating of "Moderate Buy" and an average target price of $136.28.

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Emerson Electric Price Performance

Shares of Emerson Electric stock opened at $110.62 on Wednesday. The business's fifty day moving average price is $123.12 and its 200 day moving average price is $118.82. The stock has a market capitalization of $62.38 billion, a P/E ratio of 26.40, a PEG ratio of 2.49 and a beta of 1.36. Emerson Electric Co. has a twelve month low of $96.62 and a twelve 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.

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

Emerson Electric Dividend Announcement

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 dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Friday, February 14th. Emerson Electric's payout ratio is 50.36%.

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.

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