Emerson Electric Co. (NYSE:EMR) Shares Acquired by Eastern Bank

Eastern Bank boosted its position in shares of Emerson Electric Co. (NYSE:EMR) by 54.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 322,069 shares of the industrial products company’s stock after purchasing an additional 113,589 shares during the period. Eastern Bank owned approximately 0.06% of Emerson Electric worth $35,225,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new position in shares of Emerson Electric in the 1st quarter valued at about $31,000. Meeder Asset Management Inc. raised its position in shares of Emerson Electric by 361.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock worth $33,000 after buying an additional 235 shares in the last quarter. Tributary Capital Management LLC bought a new stake in shares of Emerson Electric during the 1st quarter worth about $35,000. Versant Capital Management Inc grew its stake in shares of Emerson Electric by 471.9% in the 2nd quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 269 shares during the last quarter. Finally, Thompson Investment Management Inc. grew its stake in shares of Emerson Electric by 2,650.0% in the 1st quarter. Thompson Investment Management Inc. now owns 385 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 371 shares during the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on EMR shares. Royal Bank of Canada dropped their target price on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Robert W. Baird boosted their price objective on shares of Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Redburn Atlantic started coverage on shares of Emerson Electric in a research report on Monday, July 8th. They set a “buy” rating and a $135.00 price objective on the stock. Barclays lowered their price objective on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Stephens downgraded shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $135.00 to $120.00 in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $125.47.

Emerson Electric Stock Performance

NYSE:EMR traded down $0.67 during trading hours on Tuesday, hitting $109.74. 687,763 shares of the company traded hands, compared to its average volume of 2,693,405. The stock has a market capitalization of $62.78 billion, a price-to-earnings ratio of 5.91, a P/E/G ratio of 1.70 and a beta of 1.30. Emerson Electric Co. has a twelve month low of $83.10 and a twelve month high of $119.53. The firm has a 50-day moving average of $105.80 and a 200 day moving average of $109.13. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27.

Emerson Electric (NYSE:EMR) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.29 EPS. On average, analysts forecast that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a yield of 1.91%. Emerson Electric’s payout ratio is presently 11.24%.

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.