Allspring Global Investments Holdings LLC grew its holdings in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 2.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 409,771 shares of the industrial products company’s stock after buying an additional 11,339 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of Emerson Electric worth $54,241,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Emerson Electric by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 54,909,180 shares of the industrial products company’s stock valued at $7,287,546,000 after acquiring an additional 578,242 shares in the last quarter. State Street Corp boosted its position in Emerson Electric by 2.0% during the 4th quarter. State Street Corp now owns 27,483,440 shares of the industrial products company’s stock valued at $3,647,602,000 after acquiring an additional 541,887 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Emerson Electric by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 12,328,324 shares of the industrial products company’s stock valued at $1,628,638,000 after buying an additional 76,488 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Emerson Electric by 1.3% in the fourth quarter. Wells Fargo & Company MN now owns 10,840,109 shares of the industrial products company’s stock valued at $1,438,699,000 after acquiring an additional 134,049 shares in the last quarter. Finally, Norges Bank purchased a new position in Emerson Electric during the 4th quarter worth $1,050,040,000. 74.30% of the stock is owned by institutional investors.
Emerson Electric Stock Up 0.2%
EMR opened at $139.39 on Friday. The company has a fifty day moving average of $140.35 and a two-hundred day moving average of $141.81. The stock has a market capitalization of $78.07 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.23 and a beta of 1.25. Emerson Electric Co. has a fifty-two week low of $122.64 and a fifty-two week high of $165.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.64 and a current ratio of 0.87.
Emerson Electric Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, May 15th. Emerson Electric’s dividend payout ratio is 51.27%.
Analyst Ratings Changes
Several equities research analysts have recently commented on EMR shares. Sanford C. Bernstein started coverage on shares of Emerson Electric in a research note on Wednesday, June 10th. They set an “outperform” rating and a $175.00 price objective for the company. Daiwa Securities Group cut their price objective on shares of Emerson Electric from $177.00 to $156.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Emerson Electric in a research report on Monday, May 4th. JPMorgan Chase & Co. raised Emerson Electric from a “neutral” rating to an “overweight” rating and set a $157.00 price target on the stock in a research report on Friday. Finally, Barclays lifted their price objective on Emerson Electric from $140.00 to $144.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.64.
Get Our Latest Report on Emerson Electric
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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