NewEdge Advisors LLC reduced its stake in Emerson Electric Co. (NYSE:EMR – Free Report) by 60.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 159,824 shares of the industrial products company’s stock after selling 246,828 shares during the period. NewEdge Advisors LLC’s holdings in Emerson Electric were worth $20,940,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EMR. Vanguard Group Inc. grew its position in shares of Emerson Electric by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 54,909,180 shares of the industrial products company’s stock valued at $7,287,546,000 after buying an additional 578,242 shares during the last quarter. State Street Corp boosted its stake in Emerson Electric by 2.0% in the fourth quarter. State Street Corp now owns 27,483,440 shares of the industrial products company’s stock valued at $3,647,602,000 after acquiring an additional 541,887 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Emerson Electric by 13.1% during the first quarter. Bank of America Corp DE now owns 19,941,844 shares of the industrial products company’s stock worth $2,612,780,000 after purchasing an additional 2,302,055 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Emerson Electric by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 12,328,324 shares of the industrial products company’s stock worth $1,628,638,000 after purchasing an additional 76,488 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Emerson Electric by 1.3% in the 4th quarter. Wells Fargo & Company MN now owns 10,840,109 shares of the industrial products company’s stock valued at $1,438,699,000 after purchasing an additional 134,049 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.
Emerson Electric Stock Down 4.0%
EMR opened at $145.81 on Thursday. Emerson Electric Co. has a 52 week low of $122.64 and a 52 week high of $165.15. The business has a 50 day moving average price of $141.83 and a two-hundred day moving average price of $142.17. The company has a quick ratio of 0.64, a current ratio of 0.87 and a debt-to-equity ratio of 0.37. The company has a market cap of $81.67 billion, a PE ratio of 33.68, a P/E/G ratio of 2.43 and a beta of 1.25.
Emerson Electric Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a $0.555 dividend. This represents a $2.22 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, May 15th. Emerson Electric’s payout ratio is currently 51.27%.
Analyst Ratings Changes
A number of brokerages recently issued reports on EMR. Wolfe Research decreased their target price on Emerson Electric from $176.00 to $169.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. KeyCorp reduced their price objective on Emerson Electric from $185.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Sanford C. Bernstein lowered their target price on shares of Emerson Electric from $175.00 to $169.00 and set an “outperform” rating on the stock in a research report on Monday, July 20th. DA Davidson began coverage on shares of Emerson Electric in a report on Tuesday, June 16th. They issued a “neutral” rating and a $145.00 target price on the stock. Finally, Royal Bank Of Canada upped their price target on shares of Emerson Electric from $161.00 to $169.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Thirteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $162.36.
Read Our Latest Report on Emerson Electric
About Emerson Electric
Emerson Electric Co is a global technology and engineering company that designs and manufactures products and provides services for industrial, commercial and consumer markets. Founded in 1890, the company is headquartered in St. Louis, Missouri, and has built a long-standing presence in automation, control and climate-related technologies. Emerson’s offerings are aimed at improving productivity, energy efficiency and reliability for a wide range of end markets.
Emerson operates through two principal platforms—Automation Solutions and Commercial & Residential Solutions—providing process automation systems, measurement and analytical instrumentation, valves and actuators, control software, and related aftermarket services, alongside products for heating, ventilation and refrigeration, residential and commercial climate controls, tools and storage solutions.
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