Summit Asset Management LLC Increases Position in Emerson Electric Co. (NYSE:EMR)

Summit Asset Management LLC lifted its position in shares of Emerson Electric Co. (NYSE:EMR) by 2.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 12,751 shares of the industrial products company’s stock after buying an additional 300 shares during the period. Summit Asset Management LLC’s holdings in Emerson Electric were worth $1,580,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EMR. Pathway Financial Advisers LLC lifted its stake in shares of Emerson Electric by 10,993.2% during the third quarter. Pathway Financial Advisers LLC now owns 2,070,428 shares of the industrial products company’s stock valued at $226,443,000 after buying an additional 2,051,764 shares during the period. Van ECK Associates Corp raised its stake in 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 worth $422,852,000 after purchasing an additional 2,016,075 shares during the period. State Street Corp raised 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 purchasing an additional 1,507,980 shares during the period. Swedbank AB raised its stake in Emerson Electric by 127.3% during the third quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock worth $278,285,000 after purchasing an additional 1,424,800 shares during the period. Finally, Sarasin & Partners LLP raised its stake in Emerson Electric by 120.6% during the fourth quarter. Sarasin & Partners LLP now owns 1,766,230 shares of the industrial products company’s stock worth $218,889,000 after purchasing an additional 965,731 shares during the period. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Price Performance

EMR opened at $121.88 on Friday. The company has a 50-day moving average of $125.08 and a 200-day moving average of $117.57. The company has a market capitalization of $68.73 billion, a P/E ratio of 29.09, a PEG ratio of 2.49 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 debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.54.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. Emerson Electric had a net margin of 13.74% and a return on equity of 12.08%. Equities analysts expect that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Friday, February 14th. Emerson Electric’s payout ratio is 50.36%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EMR. Wells Fargo & Company increased their price target 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. Morgan Stanley raised their target price on shares of Emerson Electric from $105.00 to $112.00 and gave the company an “underweight” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. cut their target price on shares of Emerson Electric from $137.00 to $135.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Jefferies Financial Group assumed coverage on shares of Emerson Electric in a research note on Thursday, December 12th. They issued a “buy” rating and a $160.00 target price on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $138.00 target price on shares of Emerson Electric in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Emerson Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.90.

Emerson Electric Company 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.