Wetherby Asset Management Inc. boosted its stake in Emerson Electric Co. (NYSE:EMR – Get Rating) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,613 shares of the industrial products company’s stock after buying an additional 456 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Emerson Electric were worth $1,237,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of EMR. abrdn plc raised its position in Emerson Electric by 22.7% in the 4th quarter. abrdn plc now owns 3,137,068 shares of the industrial products company’s stock valued at $291,654,000 after purchasing an additional 580,321 shares during the last quarter. Acadian Asset Management LLC raised its position in Emerson Electric by 19.4% in the 4th quarter. Acadian Asset Management LLC now owns 10,279 shares of the industrial products company’s stock valued at $955,000 after purchasing an additional 1,671 shares during the last quarter. Pictet Asset Management SA raised its position in Emerson Electric by 3.7% in the 4th quarter. Pictet Asset Management SA now owns 272,062 shares of the industrial products company’s stock valued at $25,294,000 after purchasing an additional 9,682 shares during the last quarter. Rhumbline Advisers raised its position in Emerson Electric by 2.9% in the 4th quarter. Rhumbline Advisers now owns 1,135,577 shares of the industrial products company’s stock valued at $105,575,000 after purchasing an additional 31,702 shares during the last quarter. Finally, Covestor Ltd bought a new position in Emerson Electric in the 4th quarter valued at $93,000. Institutional investors and hedge funds own 72.75% of the company’s stock.
Analyst Upgrades and Downgrades
EMR has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Emerson Electric from $87.00 to $89.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 12th. Credit Suisse Group cut their price target on Emerson Electric from $107.00 to $106.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 10th. Sanford C. Bernstein lowered their price objective on Emerson Electric from $105.00 to $100.00 and set a “mkt perform” rating for the company in a research report on Wednesday, August 17th. Barclays cut their target price on shares of Emerson Electric from $87.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, July 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Emerson Electric from $97.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.77.
Emerson Electric Stock Performance
Emerson Electric (NYSE:EMR – Get Rating) last released its quarterly earnings data on Tuesday, August 9th. The industrial products company reported $1.38 earnings per share for the quarter, beating 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 business 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 business posted $1.09 EPS. Emerson Electric’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, research analysts forecast that Emerson Electric Co. will post 5.11 earnings per share for the current year.
Emerson Electric Dividend Announcement
The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.43%. Emerson Electric’s payout ratio is 39.02%.
About Emerson Electric
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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