Swedbank AB lifted its position in Emerson Electric Co. (NYSE:EMR – Free Report) by 7.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,332,429 shares of the industrial products company’s stock after acquiring an additional 221,632 shares during the quarter. Swedbank AB owned approximately 0.59% of Emerson Electric worth $436,615,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Murphy Middleton Hinkle & Parker Inc. grew its position in Emerson Electric by 229.1% in the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 46,467 shares of the industrial products company’s stock worth $6,167,000 after purchasing an additional 32,346 shares during the last quarter. Forbes J M & Co. LLP raised its position in shares of Emerson Electric by 692.5% during the fourth quarter. Forbes J M & Co. LLP now owns 95,811 shares of the industrial products company’s stock valued at $12,716,000 after buying an additional 83,721 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Emerson Electric by 863.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 548,823 shares of the industrial products company’s stock valued at $72,840,000 after buying an additional 491,883 shares during the period. Fisher Asset Management LLC grew its position in Emerson Electric by 14.8% during the fourth quarter. Fisher Asset Management LLC now owns 7,191,118 shares of the industrial products company’s stock worth $954,405,000 after buying an additional 928,548 shares in the last quarter. Finally, Truist Financial Corp increased its stake in Emerson Electric by 4.6% during the fourth quarter. Truist Financial Corp now owns 1,185,160 shares of the industrial products company’s stock valued at $157,294,000 after acquiring an additional 52,440 shares during the period. Institutional investors and hedge funds own 74.30% of the company’s stock.
Emerson Electric Price Performance
Shares of Emerson Electric stock traded down $4.07 during midday trading on Tuesday, hitting $137.49. 530,369 shares of the company were exchanged, compared to its average volume of 3,151,948. The firm has a 50 day simple moving average of $140.97 and a 200-day simple moving average of $141.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.87 and a quick ratio of 0.64. The firm has a market cap of $77.01 billion, a P/E ratio of 31.74, a PEG ratio of 2.22 and a beta of 1.25. Emerson Electric Co. has a 52 week low of $122.64 and a 52 week high of $165.15.
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 dividend of $0.555 per share. This represents a $2.22 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, May 15th. Emerson Electric’s dividend payout ratio is currently 51.27%.
Analysts Set New Price Targets
EMR has been the subject of a number of research reports. Wolfe Research reduced their price objective 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. BMO Capital Markets boosted their price objective on Emerson Electric from $150.00 to $157.00 in a research report on Friday, May 8th. Jefferies Financial Group assumed coverage on Emerson Electric in a research note on Tuesday, March 31st. They issued a “buy” rating and a $175.00 target price for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Emerson Electric in a research report on Monday, May 4th. Finally, Barclays boosted their price target on shares of Emerson Electric from $140.00 to $144.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Emerson Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.32.
Check Out Our Latest Research Report on EMR
Emerson Electric Company Profile
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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