Emerson Electric Co. (NYSE:EMR) Stock Position Decreased by Prosperity Wealth Management Inc.

Prosperity Wealth Management Inc. cut its stake in shares of Emerson Electric Co. (NYSE:EMR) by 35.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,736 shares of the industrial products company’s stock after selling 2,592 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in Emerson Electric were worth $587,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. State Street Corp raised its holdings in shares of Emerson Electric by 6.2% during the third quarter. State Street Corp now owns 25,810,167 shares of the industrial products company’s stock worth $2,822,858,000 after acquiring an additional 1,507,980 shares in the last quarter. Wellington Management Group LLP grew its position in Emerson Electric by 4.2% during the third quarter. Wellington Management Group LLP now owns 14,552,544 shares of the industrial products company’s stock worth $1,591,612,000 after buying an additional 581,102 shares in the last quarter. Geode Capital Management LLC lifted its stake in Emerson Electric by 1.4% during the third quarter. Geode Capital Management LLC now owns 11,453,075 shares of the industrial products company’s stock worth $1,247,570,000 after purchasing an additional 162,985 shares during the period. Nordea Investment Management AB lifted its stake in Emerson Electric by 5.7% during the fourth quarter. Nordea Investment Management AB now owns 7,013,550 shares of the industrial products company’s stock worth $871,083,000 after purchasing an additional 375,470 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Emerson Electric by 3.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,523,394 shares of the industrial products company’s stock valued at $385,354,000 after acquiring an additional 132,186 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Price Performance

Shares of NYSE:EMR opened at $110.62 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.54 and a quick ratio of 1.17. Emerson Electric Co. has a 1-year low of $96.62 and a 1-year high of $134.85. The company has a market capitalization of $62.38 billion, a P/E ratio of 26.40, a P/E/G ratio of 2.49 and a beta of 1.36. The firm’s 50 day simple moving average is $123.12 and its two-hundred day simple moving average is $118.82.

Emerson Electric (NYSE:EMR) last released 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%. Research analysts expect that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Friday, February 14th. Emerson Electric’s dividend payout ratio is presently 50.36%.

Analyst Ratings Changes

Several research analysts recently weighed in on EMR shares. UBS Group started coverage on shares of Emerson Electric in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $135.00 price objective for the company. JPMorgan Chase & Co. decreased their price target on shares of Emerson Electric from $137.00 to $135.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Jefferies Financial Group started coverage on shares of Emerson Electric in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price target for the company. Loop Capital boosted their price objective on shares of Emerson Electric from $130.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of Emerson Electric in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $136.28.

Emerson Electric Company 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.