Fiduciary Group LLC increased its position in shares of Emerson Electric Co. (NYSE:EMR) by 6.6% in the first quarter, HoldingsChannel.com reports. The firm owned 10,637 shares of the industrial products company’s stock after acquiring an additional 662 shares during the quarter. Fiduciary Group LLC’s holdings in Emerson Electric were worth $507,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. Ballast Advisors LLC purchased a new stake in Emerson Electric in the first quarter valued at $25,000. MBE Wealth Management LLC purchased a new stake in Emerson Electric in the first quarter valued at $25,000. Litman Gregory Asset Management LLC lifted its position in Emerson Electric by 108.0% in the fourth quarter. Litman Gregory Asset Management LLC now owns 337 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 175 shares during the last quarter. Princeton Global Asset Management LLC purchased a new stake in Emerson Electric in the fourth quarter valued at $27,000. Finally, Verus Capital Partners LLC purchased a new stake in Emerson Electric in the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 73.32% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Emerson Electric from $47.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Cowen reissued a “hold” rating and issued a $63.00 price target on shares of Emerson Electric in a research report on Wednesday, April 29th. Zacks Investment Research raised shares of Emerson Electric from a “sell” rating to a “hold” rating and set a $60.00 target price for the company in a report on Tuesday. Citigroup reduced their target price on shares of Emerson Electric from $77.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Finally, Bank of America upped their target price on shares of Emerson Electric from $87.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $64.13.
In other news, Director Arthur F. Golden purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $51.47 per share, with a total value of $257,350.00. Following the completion of the acquisition, the director now directly owns 81,898 shares of the company’s stock, valued at approximately $4,215,290.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.50% of the company’s stock.
NYSE EMR traded down $0.38 during trading hours on Friday, hitting $55.87. 4,231,732 shares of the stock were exchanged, compared to its average volume of 3,819,407. The company has a market cap of $33.61 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 2.93 and a beta of 1.51. Emerson Electric Co. has a 12-month low of $37.75 and a 12-month high of $78.38. The stock has a 50-day moving average of $52.57 and a 200 day moving average of $65.49. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.52.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Emerson Electric had a net margin of 12.04% and a return on equity of 26.66%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.84 earnings per share. On average, equities research analysts expect that Emerson Electric Co. will post 3.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.00 annualized dividend and a yield of 3.58%. Emerson Electric’s dividend payout ratio is currently 54.20%.
About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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