Rhumbline Advisers Cuts Stake in Emerson Electric Co. (NYSE:EMR)

Rhumbline Advisers cut its stake in Emerson Electric Co. (NYSE:EMR - Free Report) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,151,702 shares of the industrial products company's stock after selling 41,815 shares during the quarter. Rhumbline Advisers owned about 0.20% of Emerson Electric worth $142,730,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. State Street Corp increased its stake in Emerson Electric by 6.2% during the third quarter. State Street Corp now owns 25,810,167 shares of the industrial products company's stock worth $2,822,858,000 after acquiring an additional 1,507,980 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Emerson Electric by 4.2% during 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 purchasing an additional 581,102 shares during the last quarter. Geode Capital Management LLC lifted its position in Emerson Electric by 1.4% in the third quarter. Geode Capital Management LLC now owns 11,453,075 shares of the industrial products company's stock valued at $1,247,570,000 after buying an additional 162,985 shares during the last quarter. Nordea Investment Management AB boosted its stake in Emerson Electric by 5.7% during 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 during the period. Finally, Van ECK Associates Corp increased its position in shares of Emerson Electric by 107.2% during the third quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company's stock valued at $422,852,000 after acquiring an additional 2,016,075 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Robert W. Baird upped their price objective on shares of Emerson Electric from $117.00 to $118.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. BNP Paribas initiated coverage on Emerson Electric in a research report on Wednesday, November 13th. They set an "outperform" rating and a $155.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Emerson Electric from $136.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. KeyCorp boosted their price target on shares of Emerson Electric from $140.00 to $158.00 and gave the stock an "overweight" rating in a research note on Monday, December 9th. Finally, Jefferies Financial Group began coverage on shares of Emerson Electric in a research report on Thursday, December 12th. They set a "buy" rating and a $160.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $136.90.

Emerson Electric Stock Performance

NYSE:EMR traded down $0.54 during mid-day trading on Wednesday, reaching $124.47. 1,781,183 shares of the stock were exchanged, compared to its average volume of 2,916,796. The stock has a market capitalization of $70.19 billion, a P/E ratio of 29.71, a P/E/G ratio of 2.46 and a beta of 1.34. Emerson Electric Co. has a 1 year low of $96.62 and a 1 year high of $134.85. The company has a 50 day simple moving average of $125.51 and a 200-day simple moving average of $117.30. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 0.25.

Emerson Electric (NYSE:EMR - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.38 EPS for the quarter, beating 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%. Analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Friday, February 14th. Emerson Electric's dividend payout ratio is presently 50.36%.

Emerson Electric 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.