Victory Capital Management Inc. lifted its holdings in Emerson Electric Co. (NYSE:EMR) by 11.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,628 shares of the industrial products company’s stock after buying an additional 22,715 shares during the quarter. Victory Capital Management Inc.’s holdings in Emerson Electric were worth $14,969,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of EMR. Norges Bank purchased a new stake in shares of Emerson Electric in the fourth quarter valued at approximately $430,663,000. Oregon Public Employees Retirement Fund boosted its position in Emerson Electric by 5,802.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,095,444 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 4,026,056 shares in the last quarter. FMR LLC boosted its position in Emerson Electric by 83.1% during the fourth quarter. FMR LLC now owns 6,998,682 shares of the industrial products company’s stock worth $418,171,000 after purchasing an additional 3,176,614 shares in the last quarter. Two Sigma Advisers LP boosted its position in Emerson Electric by 380.4% during the fourth quarter. Two Sigma Advisers LP now owns 3,092,853 shares of the industrial products company’s stock worth $184,798,000 after purchasing an additional 2,448,999 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Emerson Electric by 5.9% during the fourth quarter. BlackRock Inc. now owns 42,076,883 shares of the industrial products company’s stock worth $2,514,093,000 after purchasing an additional 2,358,763 shares in the last quarter. Hedge funds and other institutional investors own 73.06% of the company’s stock.
Shares of NYSE:EMR traded down $0.54 on Monday, hitting $64.28. The company had a trading volume of 15,217 shares, compared to its average volume of 2,840,012. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Emerson Electric Co. has a 52-week low of $55.38 and a 52-week high of $79.70. The company has a market capitalization of $39.84 billion, a P/E ratio of 19.05, a P/E/G ratio of 2.07 and a beta of 1.23.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a $0.49 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.96 annualized dividend and a dividend yield of 3.05%. Emerson Electric’s dividend payout ratio is currently 57.99%.
A number of analysts have commented on the company. Zacks Investment Research upgraded Emerson Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Citigroup upgraded Emerson Electric from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $81.00 in a research report on Monday, April 8th. Morgan Stanley set a $77.00 target price on Emerson Electric and gave the stock a “buy” rating in a research report on Friday, February 8th. Credit Suisse Group boosted their target price on Emerson Electric from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 6th. Finally, Cowen reiterated a “buy” rating and set a $81.00 target price on shares of Emerson Electric in a research report on Tuesday, February 5th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Emerson Electric presently has an average rating of “Buy” and an average price target of $76.41.
Emerson Electric Company Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
Further Reading: Debt-To-Equity Ratio
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