Penobscot Investment Management Company Inc. Acquires 489 Shares of Emerson Electric Co. (NYSE:EMR)

Penobscot Investment Management Company Inc. increased its stake in Emerson Electric Co. (NYSE:EMR) by 1.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 30,327 shares of the industrial products company’s stock after buying an additional 489 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Emerson Electric were worth $3,758,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Emerson Electric in the 4th quarter worth approximately $297,947,000. Boston Partners raised its stake in Emerson Electric by 136.3% in the 4th quarter. Boston Partners now owns 3,316,466 shares of the industrial products company’s stock valued at $411,944,000 after acquiring an additional 1,913,120 shares during the period. State Street Corp lifted its holdings in 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 valued at $2,822,858,000 after purchasing an additional 1,507,980 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Emerson Electric by 234.2% in the fourth quarter. Fisher Asset Management LLC now owns 2,035,934 shares of the industrial products company’s stock worth $252,313,000 after purchasing an additional 1,426,718 shares in the last quarter. Finally, Sarasin & Partners LLP raised its position in shares of Emerson Electric by 120.6% in the fourth quarter. Sarasin & Partners LLP now owns 1,766,230 shares of the industrial products company’s stock valued at $218,889,000 after purchasing an additional 965,731 shares during the period. Institutional investors own 74.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EMR shares. Barclays lowered shares of Emerson Electric from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $135.00 to $110.00 in a research note on Monday, March 10th. Citigroup began coverage on Emerson Electric in a research note on Monday, March 17th. They issued a “buy” rating and a $132.00 target price for the company. Daiwa America upgraded Emerson Electric to a “strong-buy” rating in a research report on Tuesday, January 28th. KeyCorp upped their target price on shares of Emerson Electric from $140.00 to $158.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $138.00 price target on shares of Emerson Electric in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.22.

Emerson Electric Stock Performance

Shares of EMR stock opened at $115.21 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.54. Emerson Electric Co. has a fifty-two week low of $96.62 and a fifty-two week high of $134.85. The company has a market capitalization of $64.97 billion, a P/E ratio of 27.50, a PEG ratio of 2.49 and a beta of 1.36. The stock has a 50 day moving average price of $121.44 and a two-hundred day moving average price of $119.50.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. Emerson Electric had a net margin of 13.74% and a return on equity of 12.08%. Analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $0.5275 per share. The ex-dividend date was Friday, February 14th. This represents a $2.11 annualized dividend and a dividend yield of 1.83%. Emerson Electric’s dividend payout ratio (DPR) is presently 50.36%.

About Emerson Electric

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.