Sit Investment Associates Inc. lowered its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 9.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,299 shares of the industrial products company's stock after selling 10,687 shares during the quarter. Sit Investment Associates Inc.'s holdings in Emerson Electric were worth $12,058,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Emerson Electric by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 53,536,974 shares of the industrial products company's stock valued at $6,634,837,000 after purchasing an additional 384,313 shares in the last quarter. State Street Corp grew its stake in shares of 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 purchasing an additional 1,507,980 shares in the last quarter. Wellington Management Group LLP raised its stake in Emerson Electric by 4.2% in the third quarter. Wellington Management Group LLP now owns 14,552,544 shares of the industrial products company's stock valued at $1,591,612,000 after buying an additional 581,102 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Emerson Electric by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company's stock worth $1,443,725,000 after acquiring an additional 232,540 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Emerson Electric in the 4th quarter valued at about $885,886,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $138.00 price target on shares of Emerson Electric in a research note on Thursday, February 6th. Wells Fargo & Company boosted their price objective on Emerson Electric from $140.00 to $142.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Daiwa America raised shares of Emerson Electric to a "strong-buy" rating in a report on Tuesday, January 28th. StockNews.com upgraded shares of Emerson Electric from a "hold" rating to a "buy" rating in a research note on Thursday, April 3rd. Finally, JPMorgan Chase & Co. decreased their price target on Emerson Electric from $135.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $132.39.
View Our Latest Stock Analysis on EMR
Emerson Electric Stock Down 4.3 %
Shares of NYSE:EMR traded down $4.52 during mid-day trading on Thursday, hitting $99.91. 1,803,569 shares of the company traded hands, compared to its average volume of 2,881,574. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.54. The firm's 50 day simple moving average is $115.29 and its 200 day simple moving average is $119.42. The firm has a market cap of $56.34 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 released 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 return on equity of 12.08% and a net margin of 13.74%. On average, equities analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current year.
Emerson Electric Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Friday, February 14th. Emerson Electric's payout ratio is currently 50.36%.
About Emerson Electric
(
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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