Assenagon Asset Management S.A. Has $92.76 Million Stake in Emerson Electric Co. (NYSE:EMR)

Assenagon Asset Management S.A. raised its position in Emerson Electric Co. (NYSE:EMR) by 296.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 848,096 shares of the industrial products company’s stock after purchasing an additional 633,921 shares during the period. Assenagon Asset Management S.A. owned 0.15% of Emerson Electric worth $92,756,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Thrive Wealth Management LLC lifted its position in shares of Emerson Electric by 4.1% in the 2nd quarter. Thrive Wealth Management LLC now owns 2,319 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 91 shares during the period. LCM Capital Management Inc increased its stake in shares of Emerson Electric by 1.4% in the 2nd quarter. LCM Capital Management Inc now owns 6,787 shares of the industrial products company’s stock valued at $748,000 after acquiring an additional 91 shares in the last quarter. Sabal Trust CO increased its stake in shares of Emerson Electric by 2.2% in the 2nd quarter. Sabal Trust CO now owns 4,308 shares of the industrial products company’s stock valued at $475,000 after acquiring an additional 93 shares in the last quarter. Catalyst Financial Partners LLC increased its stake in shares of Emerson Electric by 3.7% in the 2nd quarter. Catalyst Financial Partners LLC now owns 2,609 shares of the industrial products company’s stock valued at $287,000 after acquiring an additional 94 shares in the last quarter. Finally, PFG Advisors increased its stake in shares of Emerson Electric by 3.8% in the 1st quarter. PFG Advisors now owns 2,591 shares of the industrial products company’s stock valued at $294,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on EMR. Stephens lowered 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 note on Wednesday, October 16th. StockNews.com lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lowered shares of Emerson Electric from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $132.00 to $115.00 in a research note on Wednesday, August 14th. Morgan Stanley initiated coverage on shares of Emerson Electric in a research note on Friday, September 6th. They set an “underweight” rating and a $105.00 price target for the company. Finally, Robert W. Baird boosted their price target on shares of Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.47.

Emerson Electric Stock Performance

Shares of NYSE:EMR traded down $0.65 during midday trading on Thursday, reaching $107.86. The company had a trading volume of 656,452 shares, compared to its average volume of 2,692,736. The company’s 50 day moving average price is $106.01 and its 200 day moving average price is $109.09. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. The stock has a market cap of $61.71 billion, a P/E ratio of 5.81, a P/E/G ratio of 1.70 and a beta of 1.30. Emerson Electric Co. has a 52-week low of $83.10 and a 52-week high of $119.53.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $4.38 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 EPS. As a group, sell-side analysts anticipate that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Friday, August 16th. Emerson Electric’s dividend payout ratio (DPR) is currently 11.24%.

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.