DNB Asset Management AS Cuts Holdings in Emerson Electric Co. (NYSE:EMR)

DNB Asset Management AS trimmed its holdings in shares of Emerson Electric Co. (NYSE:EMR – Get Rating) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 690,761 shares of the industrial products company’s stock after selling 28,527 shares during the period. DNB Asset Management AS owned about 0.12% of Emerson Electric worth $66,355,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Western Pacific Wealth Management LP purchased a new position in Emerson Electric in the 3rd quarter valued at approximately $26,000. Certified Advisory Corp purchased a new position in Emerson Electric in the 1st quarter valued at approximately $34,000. SJS Investment Consulting Inc. purchased a new position in Emerson Electric in the 3rd quarter valued at approximately $42,000. Legacy Bridge LLC increased its stake in Emerson Electric by 37.1% in the 4th quarter. Legacy Bridge LLC now owns 521 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 141 shares in the last quarter. Finally, Fred Alger Management LLC purchased a new position in Emerson Electric in the 3rd quarter valued at approximately $53,000. 71.64% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Trading Down 1.3 %

Shares of EMR stock traded down $1.08 during mid-day trading on Friday, hitting $80.84. 9,040,120 shares of the company’s stock were exchanged, compared to its average volume of 3,249,232. Emerson Electric Co. has a fifty-two week low of $72.40 and a fifty-two week high of $100.00. The stock has a 50-day simple moving average of $87.55 and a two-hundred day simple moving average of $87.65. The company has a quick ratio of 0.86, a current ratio of 1.10 and a debt-to-equity ratio of 0.49. The stock has a market cap of $46.19 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 2.37 and a beta of 1.39.

Emerson Electric (NYSE:EMR – Get Rating) last posted its quarterly earnings data on Wednesday, February 8th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.10). The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.43 billion. Emerson Electric had a return on equity of 19.79% and a net margin of 25.18%. Emerson Electric’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 EPS. Equities analysts expect that Emerson Electric Co. will post 4.07 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 17th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Thursday, February 16th. Emerson Electric’s dividend payout ratio (DPR) is currently 26.40%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EMR. UBS Group raised Emerson Electric from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $100.00 to $97.00 in a research note on Monday, March 6th. Morgan Stanley increased their target price on Emerson Electric from $92.00 to $93.00 and gave the company an “equal weight” rating in a report on Tuesday, February 7th. Royal Bank of Canada lowered their target price on Emerson Electric from $110.00 to $107.00 and set an “outperform” rating on the stock in a report on Thursday, February 9th. Cowen lowered their target price on Emerson Electric from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Tuesday, February 21st. Finally, Citigroup lowered their target price on Emerson Electric from $109.00 to $106.00 and set a “buy” rating on the stock in a report on Monday, February 13th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Emerson Electric presently has an average rating of “Hold” and a consensus target price of $98.43.

Emerson Electric Profile

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Emerson Electric Co is a global technology and engineering company, which designs and manufactures products and delivers services that bring technology and engineering together to provide innovative solutions for customers in a wide range of industrial, commercial, and consumer markets. It operates through the following segments: Automation Solutions, AspenTech, Commercial and Residential Solutions, Climate Technologies, and Tools and Home Products.