Pictet Asset Management Holding SA trimmed its holdings in Emerson Electric Co. (NYSE:EMR – Free Report) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,438 shares of the industrial products company’s stock after selling 6,557 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Emerson Electric were worth $33,599,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Emerson Electric by 74.1% during the 4th quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company’s stock worth $1,412,000 after acquiring an additional 4,850 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Emerson Electric during the first quarter worth about $232,000. Caxton Associates LLP purchased a new position in Emerson Electric during the first quarter worth about $275,000. Sivia Capital Partners LLC purchased a new position in Emerson Electric during the second quarter worth about $203,000. Finally, Jump Financial LLC boosted its holdings in Emerson Electric by 121.5% in the 2nd quarter. Jump Financial LLC now owns 10,543 shares of the industrial products company’s stock valued at $1,406,000 after purchasing an additional 5,783 shares during the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.
Emerson Electric Stock Up 0.2%
NYSE:EMR opened at $143.05 on Wednesday. Emerson Electric Co. has a 52 week low of $122.64 and a 52 week high of $165.15. The stock’s fifty day moving average is $141.30 and its two-hundred day moving average is $141.59. The stock has a market capitalization of $80.12 billion, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 2.28 and a beta of 1.25. The company has a quick ratio of 0.64, a current ratio of 0.87 and a debt-to-equity ratio of 0.37.
Emerson Electric Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a dividend of $0.555 per share. The ex-dividend date was Friday, May 15th. This represents a $2.22 dividend on an annualized basis and a yield of 1.6%. Emerson Electric’s dividend payout ratio is 51.27%.
Analyst Upgrades and Downgrades
EMR has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Emerson Electric in a report on Monday, May 4th. Jefferies Financial Group assumed coverage on Emerson Electric in a research report on Tuesday, March 31st. They issued a “buy” rating and a $175.00 price objective for the company. BMO Capital Markets raised their target price on Emerson Electric from $150.00 to $157.00 in a research note on Friday, May 8th. Daiwa Securities Group decreased their price target on Emerson Electric from $177.00 to $156.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. Finally, DA Davidson started coverage on Emerson Electric in a research report on Tuesday, June 16th. They set a “neutral” rating and a $145.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Emerson Electric has a consensus rating of “Moderate Buy” and a consensus target price of $162.96.
Get 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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