Folger Nolan Fleming Douglas Capital Management Inc. increased its position in Emerson Electric Co. (NYSE:EMR – Free Report) by 177.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,636 shares of the industrial products company’s stock after buying an additional 23,439 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Emerson Electric were worth $4,800,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Murphy Middleton Hinkle & Parker Inc. grew its stake in shares of Emerson Electric by 229.1% during the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 46,467 shares of the industrial products company’s stock valued at $6,167,000 after acquiring an additional 32,346 shares in the last quarter. Elo Mutual Pension Insurance Co boosted its holdings in Emerson Electric by 26.6% in the third quarter. Elo Mutual Pension Insurance Co now owns 67,546 shares of the industrial products company’s stock valued at $8,861,000 after purchasing an additional 14,210 shares during the last quarter. Forbes J M & Co. LLP grew its stake in Emerson Electric by 692.5% during the 4th quarter. Forbes J M & Co. LLP now owns 95,811 shares of the industrial products company’s stock valued at $12,716,000 after purchasing an additional 83,721 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Emerson Electric by 863.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 548,823 shares of the industrial products company’s stock worth $72,840,000 after purchasing an additional 491,883 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Emerson Electric by 14.8% in the 4th quarter. Fisher Asset Management LLC now owns 7,191,118 shares of the industrial products company’s stock valued at $954,405,000 after purchasing an additional 928,548 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.
Emerson Electric Stock Performance
EMR stock opened at $142.96 on Tuesday. The stock’s 50 day simple moving average is $141.37 and its 200 day simple moving average is $141.55. Emerson Electric Co. has a 12-month low of $122.64 and a 12-month high of $165.15. The firm has a market cap of $80.07 billion, a P/E ratio of 33.02, a P/E/G ratio of 2.29 and a beta of 1.25. The company has a current ratio of 0.87, a quick ratio of 0.64 and a debt-to-equity ratio of 0.37.
Emerson Electric Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $0.555 per share. The ex-dividend date was Friday, May 15th. This represents a $2.22 annualized dividend and a dividend yield of 1.6%. Emerson Electric’s payout ratio is currently 51.27%.
Analyst Ratings Changes
EMR has been the subject of a number of recent analyst reports. Royal Bank Of Canada raised their price target on shares of Emerson Electric from $161.00 to $169.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Daiwa Securities Group cut their price target on shares of Emerson Electric from $177.00 to $156.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. DA Davidson assumed coverage on shares of Emerson Electric in a report on Tuesday, June 16th. They set a “neutral” rating and a $145.00 price objective for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Emerson Electric in a research report on Monday, May 4th. Finally, Wolfe Research cut their target price on shares of Emerson Electric from $176.00 to $169.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Emerson Electric presently has an average rating of “Moderate Buy” and an average target price of $162.96.
Emerson Electric Company Profile
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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