Vestcor Inc grew its holdings in Emerson Electric Co. (NYSE:EMR - Free Report) by 35.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,080 shares of the industrial products company's stock after buying an additional 3,981 shares during the period. Vestcor Inc's holdings in Emerson Electric were worth $1,869,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of EMR. Raymond James Financial Inc. purchased a new stake in shares of Emerson Electric in the fourth quarter valued at about $297,947,000. State Street Corp grew its holdings in shares of Emerson Electric by 6.2% in the third 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. Fisher Asset Management LLC grew its holdings in shares of Emerson Electric by 234.2% in the fourth quarter. Fisher Asset Management LLC now owns 2,035,934 shares of the industrial products company's stock valued at $252,313,000 after purchasing an additional 1,426,718 shares during the period. Swedbank AB grew its holdings in shares of Emerson Electric by 127.3% in the third quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company's stock valued at $278,285,000 after purchasing an additional 1,424,800 shares during the period. Finally, Sarasin & Partners LLP grew its holdings in shares of Emerson Electric by 120.6% in the fourth quarter. Sarasin & Partners LLP now owns 1,766,230 shares of the industrial products company's stock valued at $218,889,000 after purchasing an additional 965,731 shares during the period. 74.30% of the stock is currently owned by institutional investors and hedge funds.
Emerson Electric Stock Up 0.4 %
NYSE:EMR traded up $0.43 during mid-day trading on Wednesday, hitting $112.28. The stock had a trading volume of 4,095,386 shares, compared to its average volume of 2,626,650. The stock has a 50-day simple moving average of $122.03 and a two-hundred day simple moving average of $119.07. The company has a market capitalization of $63.31 billion, a PE ratio of 26.80, 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 issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.38 earnings per share 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%. On average, equities research analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current year.
Emerson Electric Announces Dividend
The business also recently disclosed 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 of this dividend was Friday, February 14th. This represents a $2.11 dividend on an annualized basis and a yield of 1.88%. Emerson Electric's payout ratio is currently 50.36%.
Analyst Ratings Changes
Several research analysts have weighed in on EMR shares. JPMorgan Chase & Co. lowered their target price on shares of Emerson Electric from $137.00 to $135.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $138.00 target price on shares of Emerson Electric in a research note on Thursday, February 6th. Wells Fargo & Company increased their target price on shares of Emerson Electric from $140.00 to $142.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Daiwa Capital Markets started coverage on shares of Emerson Electric in a research note on Tuesday, January 28th. They set an "outperform" rating and a $147.00 target price for the company. Finally, KeyCorp increased their target price 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $136.22.
Read Our Latest Stock Analysis on Emerson Electric
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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