Advisors Asset Management Inc. Purchases 10,442 Shares of Emerson Electric Co. (NYSE:EMR)

Advisors Asset Management Inc. grew its position in Emerson Electric Co. (NYSE:EMR) by 16.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,515 shares of the industrial products company’s stock after acquiring an additional 10,442 shares during the period. Advisors Asset Management Inc.’s holdings in Emerson Electric were worth $8,565,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Emerson Electric in the 4th quarter worth approximately $764,604,000. First Trust Advisors LP raised its position in Emerson Electric by 219.2% in the 4th quarter. First Trust Advisors LP now owns 2,601,619 shares of the industrial products company’s stock worth $253,216,000 after purchasing an additional 1,786,583 shares during the last quarter. Wellington Management Group LLP raised its position in Emerson Electric by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock worth $1,307,680,000 after purchasing an additional 1,488,948 shares during the last quarter. Clean Energy Transition LLP bought a new position in Emerson Electric in the 4th quarter worth approximately $87,068,000. Finally, California Public Employees Retirement System raised its position in Emerson Electric by 55.3% in the 4th quarter. California Public Employees Retirement System now owns 1,696,755 shares of the industrial products company’s stock worth $165,145,000 after purchasing an additional 604,407 shares during the last quarter. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Performance

Shares of NYSE:EMR traded up $2.25 on Friday, reaching $116.84. 1,488,096 shares of the company’s stock were exchanged, compared to its average volume of 2,632,527. The company has a fifty day moving average of $111.15 and a 200-day moving average of $107.94. Emerson Electric Co. has a twelve month low of $83.10 and a twelve month high of $119.53. The company has a market capitalization of $66.84 billion, a price-to-earnings ratio of 6.13, a PEG ratio of 1.95 and a beta of 1.32. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.11. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.29 billion. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the business posted $1.09 EPS. On average, research analysts predict that Emerson Electric Co. will post 5.47 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.10 annualized dividend and a dividend yield of 1.80%. Emerson Electric’s dividend payout ratio is 11.24%.

Analyst Ratings Changes

A number of analysts have commented on the stock. StockNews.com lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised shares of Emerson Electric from a “hold” rating to a “buy” rating and lifted their target price for the stock from $123.00 to $138.00 in a report on Thursday, May 9th. Wells Fargo & Company boosted their price target on shares of Emerson Electric from $133.00 to $137.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Robert W. Baird decreased their price target on shares of Emerson Electric from $120.00 to $116.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Finally, Mizuho boosted their price target on shares of Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.44.

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.