Prosperity Wealth Management Inc. Boosts Stock Position in Emerson Electric Co. (NYSE:EMR)

Prosperity Wealth Management Inc. raised its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 4.7% during the fourth quarter, Holdings Channel reports. The fund owned 3,364 shares of the industrial products company’s stock after buying an additional 150 shares during the period. Prosperity Wealth Management Inc.’s holdings in Emerson Electric were worth $327,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Waverly Advisors LLC lifted its stake in Emerson Electric by 100.2% in the third quarter. Waverly Advisors LLC now owns 15,117 shares of the industrial products company’s stock worth $1,460,000 after purchasing an additional 7,565 shares during the last quarter. Blackston Financial Advisory Group LLC bought a new stake in shares of Emerson Electric in the 4th quarter valued at about $241,000. FMR LLC boosted its holdings in Emerson Electric by 1.3% during the 3rd quarter. FMR LLC now owns 3,233,697 shares of the industrial products company’s stock valued at $312,278,000 after acquiring an additional 41,263 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new position in Emerson Electric during the 3rd quarter worth approximately $320,000. Finally, Capital Advisors Inc. OK increased its stake in Emerson Electric by 821.0% in the 4th quarter. Capital Advisors Inc. OK now owns 86,231 shares of the industrial products company’s stock worth $8,393,000 after purchasing an additional 76,868 shares during the period. 74.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Emerson Electric

In other Emerson Electric news, Director Mark A. Blinn sold 2,413 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $103.18, for a total transaction of $248,973.34. Following the sale, the director now directly owns 9,591 shares in the company, valued at approximately $989,599.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Emerson Electric Stock Down 0.2 %

EMR traded down $0.27 during midday trading on Wednesday, reaching $111.49. The company’s stock had a trading volume of 2,326,203 shares, compared to its average volume of 1,837,651. The stock’s 50-day moving average is $109.62 and its 200-day moving average is $98.53. Emerson Electric Co. has a 1 year low of $76.94 and a 1 year high of $115.26. The firm has a market capitalization of $63.64 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 1.93 and a beta of 1.37. The company has a current ratio of 1.12, a quick ratio of 0.80 and a debt-to-equity ratio of 0.29.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.18. Emerson Electric had a return on equity of 11.59% and a net margin of 69.33%. The company had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter last year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, research analysts expect that Emerson Electric Co. will post 5.4 EPS for the current year.

Emerson Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, February 15th. Emerson Electric’s payout ratio is 10.94%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Emerson Electric from $106.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. KeyCorp boosted their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Citigroup increased their target price on shares of Emerson Electric from $120.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Wells Fargo & Company boosted their price target on Emerson Electric from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. Finally, Berenberg Bank increased their price objective on Emerson Electric from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Emerson Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.47.

About Emerson Electric

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.