Cresset Asset Management LLC Lowers Holdings in Emerson Electric Co. (NYSE:EMR)

Cresset Asset Management LLC decreased its stake in Emerson Electric Co. (NYSE:EMRFree Report) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 156,938 shares of the industrial products company’s stock after selling 6,283 shares during the quarter. Cresset Asset Management LLC’s holdings in Emerson Electric were worth $15,275,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Tobam boosted its stake in shares of Emerson Electric by 2,275.0% in the fourth quarter. Tobam now owns 285 shares of the industrial products company’s stock worth $28,000 after buying an additional 273 shares during the last quarter. Security National Bank purchased a new stake in shares of Emerson Electric in the fourth quarter worth about $29,000. Cape Investment Advisory Inc. boosted its position in Emerson Electric by 148.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 315 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 188 shares in the last quarter. Burkett Financial Services LLC purchased a new position in Emerson Electric during the fourth quarter worth approximately $32,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in Emerson Electric during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EMR shares. Barclays increased their price target on Emerson Electric from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. StockNews.com downgraded Emerson Electric from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Robert W. Baird reduced their target price on Emerson Electric from $120.00 to $116.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Citigroup increased their target price on Emerson Electric from $120.00 to $133.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Mizuho increased their target price on Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $120.56.

View Our Latest Research Report on Emerson Electric

Emerson Electric Price Performance

EMR stock opened at $108.75 on Tuesday. The business has a fifty day moving average of $111.21 and a two-hundred day moving average of $103.91. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.28. The stock has a market cap of $62.22 billion, a price-to-earnings ratio of 5.82, a price-to-earnings-growth ratio of 1.80 and a beta of 1.34. Emerson Electric Co. has a 52-week low of $83.10 and a 52-week high of $116.76.

Emerson Electric (NYSE:EMRGet Free Report) last posted its earnings results on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.11. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 earnings per share. As a group, research analysts anticipate that Emerson Electric Co. will post 5.47 earnings per share for the current year.

Emerson Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a dividend of $0.525 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.10 annualized dividend and a dividend yield of 1.93%. Emerson Electric’s dividend payout ratio is currently 11.24%.

About Emerson Electric

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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