Meridian Wealth Management LLC Acquires 20,252 Shares of Emerson Electric Co. (NYSE:EMR)

Meridian Wealth Management LLC lifted its holdings in Emerson Electric Co. (NYSE:EMR) by 176.2% in the fourth quarter, Holdings Channel reports. The fund owned 31,748 shares of the industrial products company’s stock after purchasing an additional 20,252 shares during the quarter. Meridian Wealth Management LLC’s holdings in Emerson Electric were worth $3,090,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tobam boosted its holdings in shares of Emerson Electric by 2,275.0% in the 4th quarter. Tobam now owns 285 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 273 shares during the period. Tennessee Valley Asset Management Partners bought a new position in Emerson Electric during the fourth quarter valued at $35,000. Morton Brown Family Wealth LLC purchased a new stake in shares of Emerson Electric in the fourth quarter valued at $39,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Emerson Electric during the 4th quarter worth about $39,000. Finally, MCF Advisors LLC grew its holdings in Emerson Electric by 1,484.6% during the 4th quarter. MCF Advisors LLC now owns 412 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Performance

Shares of EMR opened at $112.88 on Friday. The stock has a market cap of $64.58 billion, a P/E ratio of 6.04, a P/E/G ratio of 1.93 and a beta of 1.36. The stock has a 50-day moving average of $111.49 and a two-hundred day moving average of $101.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 1.18. Emerson Electric Co. has a one year low of $76.94 and a one year high of $116.76.

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

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.10 dividend on an annualized basis and a yield of 1.86%. Emerson Electric’s payout ratio is 11.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays upped their target price on Emerson Electric from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Royal Bank of Canada lifted their price objective on shares of Emerson Electric from $106.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Bank of America increased their price objective on Emerson Electric from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Loop Capital upped their target price on Emerson Electric from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, UBS Group raised their price target on Emerson Electric from $95.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $120.56.

Emerson Electric 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.