Tobam Raises Stake in Emerson Electric Co. (NYSE:EMR)

Tobam raised its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 2,275.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 285 shares of the industrial products company’s stock after acquiring an additional 273 shares during the quarter. Tobam’s holdings in Emerson Electric were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Turtle Creek Wealth Advisors LLC purchased a new stake in Emerson Electric during the fourth quarter valued at about $97,000. Allspring Global Investments Holdings LLC lifted its holdings in Emerson Electric by 25.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,352 shares of the industrial products company’s stock valued at $53,955,000 after purchasing an additional 113,420 shares during the last quarter. HBK Sorce Advisory LLC lifted its holdings in Emerson Electric by 14.4% during the fourth quarter. HBK Sorce Advisory LLC now owns 10,795 shares of the industrial products company’s stock valued at $1,051,000 after purchasing an additional 1,361 shares during the last quarter. Eastern Bank lifted its holdings in shares of Emerson Electric by 37.6% in the fourth quarter. Eastern Bank now owns 193,973 shares of the industrial products company’s stock worth $18,879,000 after buying an additional 53,046 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Emerson Electric by 13.9% in the fourth quarter. International Assets Investment Management LLC now owns 3,026 shares of the industrial products company’s stock worth $294,000 after buying an additional 370 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Price Performance

Shares of NYSE:EMR opened at $112.65 on Friday. Emerson Electric Co. has a fifty-two week low of $76.94 and a fifty-two week high of $115.26. The business has a 50-day simple moving average of $108.90 and a two-hundred day simple moving average of $98.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.80 and a current ratio of 1.12. The firm has a market cap of $64.30 billion, a price-to-earnings ratio of 5.87, a price-to-earnings-growth ratio of 1.96 and a beta of 1.37.

Emerson Electric (NYSE:EMR) last issued its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.18. Emerson Electric had a return on equity of 11.59% and a net margin of 69.33%. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. Emerson Electric’s revenue was up 22.1% on a year-over-year basis. On average, analysts expect that Emerson Electric Co. will post 5.4 earnings per share for the current year.

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Thursday, February 15th. Emerson Electric’s payout ratio is currently 10.94%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EMR. Berenberg Bank raised their target price on shares of Emerson Electric from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Royal Bank of Canada lifted their target price on shares of Emerson Electric from $106.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. Bank of America lifted their target price on shares of Emerson Electric from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Barclays lifted their target price on shares of Emerson Electric from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Finally, Mizuho lifted their target price on shares of Emerson Electric from $118.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.47.

Insider Activity

In related news, Director Mark A. Blinn sold 2,413 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $103.18, for a total transaction of $248,973.34. Following the completion of the transaction, the director now directly owns 9,591 shares in the company, valued at approximately $989,599.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

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.