Rafferty Asset Management LLC Increases Stake in Emerson Electric Co. (NYSE:EMR)

Rafferty Asset Management LLC increased its holdings in Emerson Electric Co. (NYSE:EMRFree Report) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,822 shares of the industrial products company’s stock after acquiring an additional 2,372 shares during the quarter. Rafferty Asset Management LLC’s holdings in Emerson Electric were worth $4,655,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EMR. Morgan Stanley boosted its position in Emerson Electric by 7.9% during the 3rd quarter. Morgan Stanley now owns 13,750,393 shares of the industrial products company’s stock valued at $1,327,876,000 after acquiring an additional 1,008,294 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Emerson Electric by 0.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,654,285 shares of the industrial products company’s stock worth $1,036,982,000 after buying an additional 62,105 shares during the last quarter. Invesco Ltd. raised its stake in shares of Emerson Electric by 16.9% during the 3rd quarter. Invesco Ltd. now owns 8,199,836 shares of the industrial products company’s stock worth $791,858,000 after acquiring an additional 1,184,202 shares in the last quarter. Norges Bank acquired a new stake in Emerson Electric in the fourth quarter valued at approximately $764,604,000. Finally, Nordea Investment Management AB increased its position in shares of Emerson Electric by 26.5% during the fourth quarter. Nordea Investment Management AB now owns 7,447,248 shares of the industrial products company’s stock worth $723,873,000 after purchasing an additional 1,558,903 shares in the last quarter. 74.30% of the stock is currently owned by institutional investors.

Emerson Electric Stock Performance

NYSE:EMR opened at $105.97 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 1.18. The stock has a market capitalization of $60.63 billion, a PE ratio of 5.67, a P/E/G ratio of 1.81 and a beta of 1.33. Emerson Electric Co. has a fifty-two week low of $82.35 and a fifty-two week high of $116.76. The company has a fifty day moving average of $111.41 and a two-hundred day moving average of $103.43.

Emerson Electric (NYSE:EMRGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.11. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, research analysts forecast that Emerson Electric Co. will post 5.47 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, May 16th. Emerson Electric’s payout ratio is 11.24%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Robert W. Baird lowered their price objective on Emerson Electric from $120.00 to $116.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Mizuho increased their price objective on shares of Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. UBS Group boosted their target price on shares of Emerson Electric from $95.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Citigroup upped their price target on shares of Emerson Electric from $120.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, StockNews.com downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $120.56.

Check Out Our Latest Analysis on Emerson Electric

About Emerson Electric

(Free Report)

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.

Further Reading

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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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