NorthCrest Asset Manangement LLC raised its stake in Emerson Electric Co. (NYSE:EMR – Get Rating) by 6.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,422 shares of the industrial products company's stock after purchasing an additional 10,502 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Emerson Electric were worth $12,999,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in EMR. Goldman Sachs Group Inc. raised its position in Emerson Electric by 55.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,508,070 shares of the industrial products company's stock valued at $326,145,000 after purchasing an additional 1,246,143 shares during the period. State Street Corp increased its position in shares of Emerson Electric by 0.6% during the fourth quarter. State Street Corp now owns 26,481,303 shares of the industrial products company's stock worth $2,461,967,000 after acquiring an additional 146,568 shares during the last quarter. Stonebridge Capital Advisors LLC increased its position in shares of Emerson Electric by 54.6% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 1,093 shares of the industrial products company's stock worth $102,000 after acquiring an additional 386 shares during the last quarter. Impax Asset Management Group plc increased its position in shares of Emerson Electric by 5.1% during the fourth quarter. Impax Asset Management Group plc now owns 85,705 shares of the industrial products company's stock worth $7,968,000 after acquiring an additional 4,191 shares during the last quarter. Finally, Wahed Invest LLC purchased a new stake in shares of Emerson Electric during the fourth quarter worth about $664,000. 72.75% of the stock is owned by hedge funds and other institutional investors.
Get Emerson Electric alerts:Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on EMR shares. Morgan Stanley lifted their target price on Emerson Electric from $95.00 to $97.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 10th. Mizuho lifted their price target on Emerson Electric from $85.00 to $86.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 10th. Wells Fargo & Company lifted their price target on Emerson Electric from $87.00 to $89.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 12th. JPMorgan Chase & Co. started coverage on Emerson Electric in a research note on Thursday, July 7th. They issued a "neutral" rating and a $80.00 price target for the company. Finally, Argus lifted their target price on Emerson Electric from $95.00 to $98.00 and gave the company a "buy" rating in a research note on Tuesday, August 16th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Emerson Electric currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.77.
Emerson Electric Stock Performance
Shares of NYSE EMR opened at $73.84 on Friday. Emerson Electric Co. has a 12-month low of $72.87 and a 12-month high of $100.47. The company has a market cap of $43.66 billion, a PE ratio of 13.98, a P/E/G ratio of 1.71 and a beta of 1.42. The stock has a 50 day simple moving average of $84.65 and a 200-day simple moving average of $87.23. The company has a current ratio of 1.06, a quick ratio of 0.80 and a debt-to-equity ratio of 0.51.Emerson Electric (NYSE:EMR – Get Rating) last announced its earnings results on Tuesday, August 9th. The industrial products company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.29 by $0.09. Emerson Electric had a return on equity of 25.06% and a net margin of 16.45%. The firm had revenue of $5 billion for the quarter, compared to analysts' expectations of $5.10 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Emerson Electric Co. will post 5.11 EPS for the current year.
Emerson Electric Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 12th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $2.06 annualized dividend and a yield of 2.79%. Emerson Electric's payout ratio is 39.02%.
Emerson Electric Profile
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Emerson Electric Co, a technology and engineering company, provides various solutions for customers in industrial, commercial, and residential markets in the Americas, Asia, the Middle East, Africa, and Europe. The company operates through Automation Solutions, and Commercial & Residential Solutions segments.
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