International Assets Investment Management LLC boosted its holdings in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 5.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,479 shares of the industrial products company’s stock after buying an additional 221 shares during the quarter. International Assets Investment Management LLC’s holdings in Emerson Electric were worth $597,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Nuveen LLC bought a new stake in Emerson Electric during the first quarter valued at about $737,318,000. Pacer Advisors Inc. boosted its holdings in Emerson Electric by 4,583.7% during the first quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company’s stock valued at $239,569,000 after acquiring an additional 2,138,397 shares during the period. Alliancebernstein L.P. boosted its holdings in Emerson Electric by 218.7% during the first quarter. Alliancebernstein L.P. now owns 2,468,732 shares of the industrial products company’s stock valued at $270,672,000 after acquiring an additional 1,693,999 shares during the period. Nordea Investment Management AB boosted its holdings in Emerson Electric by 19.5% during the second quarter. Nordea Investment Management AB now owns 9,195,005 shares of the industrial products company’s stock valued at $1,223,947,000 after acquiring an additional 1,499,000 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Emerson Electric by 210.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company’s stock valued at $215,602,000 after acquiring an additional 1,333,839 shares during the period. 74.30% of the stock is owned by institutional investors and hedge funds.
Emerson Electric Stock Up 1.5%
NYSE EMR opened at $132.29 on Wednesday. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $150.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. The stock has a market cap of $74.45 billion, a PE ratio of 28.45, a PEG ratio of 2.25 and a beta of 1.29. The firm has a 50-day simple moving average of $131.88 and a 200 day simple moving average of $126.36.
Emerson Electric Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 15th. Emerson Electric’s dividend payout ratio is 45.38%.
Analysts Set New Price Targets
A number of research firms have issued reports on EMR. Royal Bank Of Canada upped their price target on shares of Emerson Electric from $154.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Barclays upgraded shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $125.00 to $127.00 in a report on Thursday, August 7th. Daiwa Capital Markets increased their target price on shares of Emerson Electric from $150.00 to $153.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. TD Cowen upgraded shares of Emerson Electric to a “strong-buy” rating in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Emerson Electric from $135.00 to $151.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Emerson Electric currently has a consensus rating of “Moderate Buy” and an average price target of $148.28.
View Our Latest Stock Analysis on EMR
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.
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