Emerson Electric Co. (NYSE:EMR) Shares Bought by Summit Asset Management LLC

Summit Asset Management LLC lifted its stake in Emerson Electric Co. (NYSE:EMR) by 2.4% in the fourth quarter, HoldingsChannel reports. The fund owned 12,751 shares of the industrial products company’s stock after purchasing an additional 300 shares during the quarter. Summit Asset Management LLC’s holdings in Emerson Electric were worth $1,580,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Emerson Electric in the 3rd quarter worth approximately $25,000. Stephens Consulting LLC bought a new stake in shares of Emerson Electric in the 4th quarter worth approximately $25,000. Sugar Maple Asset Management LLC bought a new stake in shares of Emerson Electric in the 4th quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new stake in shares of Emerson Electric in the 3rd quarter worth approximately $29,000. Finally, YANKCOM Partnership bought a new stake in shares of Emerson Electric in the 4th quarter worth approximately $30,000. 74.30% of the stock is owned by institutional investors and hedge funds.

Emerson Electric Stock Performance

EMR stock opened at $121.88 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $68.73 billion, a price-to-earnings ratio of 29.09, a P/E/G ratio of 2.49 and a beta of 1.34. Emerson Electric Co. has a 12 month low of $96.62 and a 12 month high of $134.85. The firm has a 50 day moving average of $125.08 and a two-hundred day moving average of $117.57.

Emerson Electric (NYSE:EMR) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.28 by $0.10. Emerson Electric had a net margin of 13.74% and a return on equity of 12.08%. As a group, equities analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 1.73%. The ex-dividend date is Friday, February 14th. Emerson Electric’s dividend payout ratio is 50.36%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EMR. JPMorgan Chase & Co. dropped their target price on shares of Emerson Electric from $137.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Jefferies Financial Group began coverage on shares of Emerson Electric in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 target price on the stock. Loop Capital boosted their price target on shares of Emerson Electric from $130.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 2nd. UBS Group began coverage on shares of Emerson Electric in a report on Wednesday, November 13th. They set a “neutral” rating and a $135.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $138.00 price target on shares of Emerson Electric in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $136.90.

Emerson Electric Profile

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.