XML Financial LLC cut its stake in Emerson Electric Co. (NYSE:EMR – Free Report) by 12.2% in the first quarter, Holdings Channel.com reports. The fund owned 35,568 shares of the industrial products company’s stock after selling 4,964 shares during the quarter. XML Financial LLC’s holdings in Emerson Electric were worth $4,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position 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 worth $7,287,546,000 after purchasing an additional 578,242 shares in the last quarter. State Street Corp boosted its position in shares of Emerson Electric by 2.0% in 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 purchasing an additional 541,887 shares during the period. Geode Capital Management LLC grew its stake in Emerson Electric by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 12,328,324 shares of the industrial products company’s stock worth $1,628,638,000 after buying an additional 76,488 shares during the last quarter. Wells Fargo & Company MN increased its position in Emerson Electric by 1.3% during the fourth quarter. Wells Fargo & Company MN now owns 10,840,109 shares of the industrial products company’s stock worth $1,438,699,000 after buying an additional 134,049 shares during the period. Finally, Norges Bank purchased a new stake in Emerson Electric in the fourth quarter valued at approximately $1,050,040,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.
Emerson Electric Stock Up 0.2%
Shares of Emerson Electric stock opened at $150.99 on Monday. Emerson Electric Co. has a one year low of $122.64 and a one year high of $165.15. The company has a market cap of $84.57 billion, a P/E ratio of 34.87, a PEG ratio of 2.40 and a beta of 1.25. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.64 and a current ratio of 0.87. The firm has a fifty day moving average of $141.19 and a two-hundred day moving average of $141.16.
Emerson Electric Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were given a dividend of $0.555 per share. The ex-dividend date was Friday, May 15th. This represents a $2.22 annualized dividend and a yield of 1.5%. Emerson Electric’s payout ratio is presently 51.27%.
Wall Street Analyst Weigh In
EMR has been the topic of a number of research reports. DA Davidson started coverage on shares of Emerson Electric in a research report on Tuesday, June 16th. They set a “neutral” rating and a $145.00 target price on the stock. Wells Fargo & Company upped their price target on shares of Emerson Electric from $135.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. BMO Capital Markets raised their price objective on shares of Emerson Electric from $150.00 to $157.00 in a research report on Friday, May 8th. Royal Bank Of Canada lifted their price objective on shares of Emerson Electric from $161.00 to $169.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group began coverage on shares of Emerson Electric in a report on Tuesday, March 31st. They issued a “buy” rating and a $175.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $162.96.
Check Out Our Latest Analysis 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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