Cushing Asset Management LP purchased a new stake in Emerson Electric Co. (NYSE:EMR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 187,253 shares of the industrial products company’s stock, valued at approximately $13,050,000.
Other large investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. purchased a new stake in shares of Emerson Electric in the 3rd quarter valued at about $12,652,000. APG Asset Management N.V. raised its holdings in shares of Emerson Electric by 10.8% during the 3rd quarter. APG Asset Management N.V. now owns 3,921,119 shares of the industrial products company’s stock valued at $246,403,000 after buying an additional 383,300 shares in the last quarter. Linscomb & Williams Inc. raised its holdings in shares of Emerson Electric by 5.1% during the 3rd quarter. Linscomb & Williams Inc. now owns 62,569 shares of the industrial products company’s stock valued at $3,932,000 after buying an additional 3,012 shares in the last quarter. Harrington Investments INC purchased a new position in shares of Emerson Electric during the 3rd quarter valued at about $1,400,000. Finally, Keeler Thomas Management LLC purchased a new position in shares of Emerson Electric during the 4th quarter valued at about $818,000. 69.96% of the stock is currently owned by hedge funds and other institutional investors.
Emerson Electric Co. (NYSE:EMR) opened at $71.23 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.40. Emerson Electric Co. has a 1 year low of $56.77 and a 1 year high of $74.45. The stock has a market capitalization of $45,220.00, a P/E ratio of 28.04, a P/E/G ratio of 2.18 and a beta of 1.15.
The business also recently declared a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 16th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.94 annualized dividend and a yield of 2.72%. Emerson Electric’s payout ratio is 76.38%.
A number of equities analysts recently weighed in on the company. JMP Securities cut Emerson Electric from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $74.45 to $56.77 in a report on Thursday, February 1st. Robert W. Baird raised their price objective on Emerson Electric from $70.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Royal Bank of Canada raised Emerson Electric from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $70.38 to $80.00 in a report on Tuesday, February 13th. JPMorgan Chase & Co. assumed coverage on Emerson Electric in a report on Wednesday, November 29th. They set a “neutral” rating on the stock. Finally, Cowen raised Emerson Electric from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $61.00 to $71.00 in a report on Tuesday, November 28th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. Emerson Electric presently has an average rating of “Hold” and a consensus price target of $70.72.
About Emerson Electric
Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.
Receive News & Ratings for Emerson Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric and related companies with MarketBeat.com's FREE daily email newsletter.