HITE Hedge Asset Management LLC acquired a new stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 51,325 shares of the industrial products company’s stock, valued at approximately $6,812,000.
A number of other hedge funds also recently made changes to their positions in the stock. Rooted Wealth Advisors Inc. lifted its holdings in Emerson Electric by 3.0% during the 4th quarter. Rooted Wealth Advisors Inc. now owns 2,195 shares of the industrial products company’s stock worth $291,000 after buying an additional 64 shares during the last quarter. Institute for Wealth Management LLC. lifted its holdings in Emerson Electric by 1.6% during the 4th quarter. Institute for Wealth Management LLC. now owns 4,546 shares of the industrial products company’s stock worth $603,000 after buying an additional 71 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in Emerson Electric by 2.4% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 3,098 shares of the industrial products company’s stock worth $411,000 after buying an additional 72 shares during the last quarter. Cornell Pochily Investment Advisors Inc. lifted its holdings in Emerson Electric by 0.3% during the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 29,260 shares of the industrial products company’s stock worth $3,883,000 after buying an additional 76 shares during the last quarter. Finally, Zhang Financial LLC lifted its holdings in Emerson Electric by 2.7% during the 4th quarter. Zhang Financial LLC now owns 2,892 shares of the industrial products company’s stock worth $384,000 after buying an additional 76 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors.
Emerson Electric Stock Up 0.7%
Shares of Emerson Electric stock opened at $143.06 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.64 and a debt-to-equity ratio of 0.37. The business’s 50 day simple moving average is $139.73 and its 200-day simple moving average is $140.47. The stock has a market capitalization of $80.13 billion, a price-to-earnings ratio of 33.04, a PEG ratio of 2.27 and a beta of 1.25. Emerson Electric Co. has a twelve month low of $122.64 and a twelve month high of $165.15.
Emerson Electric Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, May 15th. Emerson Electric’s dividend payout ratio is presently 51.27%.
Analyst Ratings Changes
EMR has been the topic of a number of research analyst reports. Barclays increased their target price on Emerson Electric from $140.00 to $144.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Wells Fargo & Company increased their target price on Emerson Electric from $135.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Emerson Electric in a report on Monday, May 4th. Wolfe Research reduced their target price on Emerson Electric from $176.00 to $169.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Finally, BMO Capital Markets increased their price target on Emerson Electric from $150.00 to $157.00 in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.77.
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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