Asset Management One Co. Ltd. decreased its stake in shares of Emerson Electric Company (NYSE:EMR) by 7.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,034,743 shares of the industrial products company’s stock after selling 83,964 shares during the period. Asset Management One Co. Ltd. owned 0.16% of Emerson Electric worth $61,928,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. First Command Financial Services Inc. increased its stake in shares of Emerson Electric by 18.9% in the first quarter. First Command Financial Services Inc. now owns 1,935 shares of the industrial products company’s stock valued at $116,000 after buying an additional 307 shares during the period. Central Bank & Trust Co. increased its stake in shares of Emerson Electric by 31.3% in the first quarter. Central Bank & Trust Co. now owns 2,100 shares of the industrial products company’s stock valued at $126,000 after buying an additional 500 shares during the period. Milestone Group Inc. acquired a new stake in shares of Emerson Electric during the first quarter valued at about $201,000. Wedgewood Investors Inc. PA purchased a new stake in Emerson Electric during the first quarter worth about $204,000. Finally, Garrison Bradford & Associates Inc. purchased a new stake in Emerson Electric during the first quarter worth about $204,000. 69.42% of the stock is currently owned by institutional investors.
Emerson Electric Company (NYSE EMR) opened at 58.00 on Friday. Emerson Electric Company has a 52-week low of $49.22 and a 52-week high of $64.36. The stock has a 50 day moving average price of $59.85 and a 200 day moving average price of $59.81. The stock has a market cap of $37.12 billion, a P/E ratio of 25.88 and a beta of 1.20.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 11th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Wednesday, August 9th. Emerson Electric’s payout ratio is currently 85.33%.
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A number of analysts have issued reports on the company. BidaskClub downgraded Emerson Electric from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. Stifel Nicolaus reissued a “buy” rating and set a $68.00 target price on shares of Emerson Electric in a research report on Wednesday, July 19th. Cowen and Company reissued a “hold” rating and set a $62.00 target price on shares of Emerson Electric in a research report on Tuesday, May 2nd. Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Finally, JMP Securities began coverage on Emerson Electric in a report on Monday, June 19th. They set an “outperform” rating and a $70.00 price objective for the company. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $58.14.
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.
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