M&T Bank Corp cut its stake in Emerson Electric Co. (NYSE:EMR) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,107,774 shares of the industrial products company’s stock after selling 31,394 shares during the period. M&T Bank Corp’s holdings in Emerson Electric were worth $66,190,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in EMR. Vanguard Group Inc lifted its holdings in Emerson Electric by 2.4% during the third quarter. Vanguard Group Inc now owns 51,601,229 shares of the industrial products company’s stock valued at $3,951,622,000 after purchasing an additional 1,214,362 shares in the last quarter. Capital World Investors lifted its holdings in shares of Emerson Electric by 7.0% in the third quarter. Capital World Investors now owns 15,250,142 shares of the industrial products company’s stock worth $1,167,856,000 after buying an additional 1,000,000 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Emerson Electric by 3,146,008.7% in the third quarter. Bank of New York Mellon Corp now owns 9,375,404 shares of the industrial products company’s stock worth $717,967,000 after buying an additional 9,375,106 shares in the last quarter. FMR LLC lifted its holdings in shares of Emerson Electric by 11.4% in the third quarter. FMR LLC now owns 3,822,068 shares of the industrial products company’s stock worth $292,693,000 after buying an additional 391,320 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Emerson Electric by 4.7% in the third quarter. Legal & General Group Plc now owns 3,254,783 shares of the industrial products company’s stock worth $249,269,000 after buying an additional 145,296 shares in the last quarter. Hedge funds and other institutional investors own 71.14% of the company’s stock.
Several research firms have recently commented on EMR. Deutsche Bank set a $79.00 target price on shares of Emerson Electric and gave the stock a “buy” rating in a report on Wednesday, November 7th. Cowen restated a “buy” rating and issued a $81.00 price target on shares of Emerson Electric in a research report on Tuesday, November 6th. UBS Group set a $85.00 price target on shares of Emerson Electric and gave the stock a “buy” rating in a research report on Thursday, November 8th. William Blair restated a “market perform” rating on shares of Emerson Electric in a research report on Tuesday, November 6th. Finally, Berenberg Bank set a $67.00 price target on shares of Emerson Electric and gave the stock a “hold” rating in a research report on Monday, November 19th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $76.28.
Shares of EMR opened at $68.07 on Wednesday. Emerson Electric Co. has a fifty-two week low of $55.38 and a fifty-two week high of $79.70. The firm has a market capitalization of $41.13 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.32.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, February 5th. The industrial products company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.08. Emerson Electric had a net margin of 12.83% and a return on equity of 24.21%. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the business posted $0.61 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, analysts anticipate that Emerson Electric Co. will post 3.7 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Friday, February 15th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Thursday, February 14th. Emerson Electric’s dividend payout ratio (DPR) is 57.99%.
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About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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