Mackenzie Financial Corp Raises Stock Position in Emerson Electric Co. (NYSE:EMR)

Mackenzie Financial Corp boosted its position in shares of Emerson Electric Co. (NYSE:EMR) by 37.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 69,225 shares of the industrial products company’s stock after buying an additional 18,924 shares during the quarter. Mackenzie Financial Corp’s holdings in Emerson Electric were worth $8,579,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of EMR. Norges Bank purchased a new position in Emerson Electric during the fourth quarter worth about $885,886,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Emerson Electric by 3,866.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,022,517 shares of the industrial products company’s stock valued at $374,581,000 after acquiring an additional 2,946,310 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Emerson Electric during the fourth quarter valued at about $297,947,000. Boston Partners increased its position in shares of Emerson Electric by 136.3% during the fourth quarter. Boston Partners now owns 3,316,466 shares of the industrial products company’s stock valued at $411,944,000 after acquiring an additional 1,913,120 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Emerson Electric by 234.2% during the fourth quarter. Fisher Asset Management LLC now owns 2,035,934 shares of the industrial products company’s stock valued at $252,313,000 after acquiring an additional 1,426,718 shares during the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EMR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Emerson Electric from $113.00 to $133.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Wells Fargo & Company lifted their price target on shares of Emerson Electric from $121.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Morgan Stanley lifted their price target on shares of Emerson Electric from $105.00 to $112.00 and gave the company an “underweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada lifted their price objective on shares of Emerson Electric from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Finally, Barclays lifted their price objective on shares of Emerson Electric from $99.00 to $104.00 and gave the company an “underweight” rating in a report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $133.06.

Emerson Electric Trading Up 2.2%

NYSE EMR opened at $120.90 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 0.25. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $134.85. The stock has a market capitalization of $68.01 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 2.49 and a beta of 1.26. The firm has a 50 day moving average of $108.33 and a two-hundred day moving average of $118.95.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.41 by $0.07. Emerson Electric had a net margin of 13.74% and a return on equity of 12.08%. The company had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter in the previous year, the business posted $1.36 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. As a group, research analysts expect that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be given a dividend of $0.5275 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.11 annualized dividend and a dividend yield of 1.75%. Emerson Electric’s dividend payout ratio is presently 50.48%.

Insider Transactions at Emerson Electric

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $113.33, for a total transaction of $1,892,384.34. Following the completion of the sale, the chief executive officer now owns 164,957 shares in the company, valued at approximately $18,694,576.81. The trade was a 9.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

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.