Allstate Corp Invests $2.10 Million in Emerson Electric Co. (NYSE:EMR)

Allstate Corp purchased a new stake in Emerson Electric Co. (NYSE:EMR) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 16,932 shares of the industrial products company’s stock, valued at approximately $2,098,000.

Other institutional investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB boosted its stake in Emerson Electric by 120.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 56,341 shares of the industrial products company’s stock valued at $6,162,000 after purchasing an additional 30,741 shares during the period. Geode Capital Management LLC grew its stake in shares of Emerson Electric by 1.4% in the third quarter. Geode Capital Management LLC now owns 11,453,075 shares of the industrial products company’s stock valued at $1,247,570,000 after acquiring an additional 162,985 shares in the last quarter. Stokes Family Office LLC increased its position in Emerson Electric by 94.8% during the fourth quarter. Stokes Family Office LLC now owns 9,206 shares of the industrial products company’s stock worth $1,141,000 after acquiring an additional 4,480 shares during the period. GHP Investment Advisors Inc. raised its stake in Emerson Electric by 8.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 82,201 shares of the industrial products company’s stock worth $10,187,000 after purchasing an additional 6,321 shares in the last quarter. Finally, Howland Capital Management LLC grew its position in shares of Emerson Electric by 13.0% during the 4th quarter. Howland Capital Management LLC now owns 26,494 shares of the industrial products company’s stock worth $3,283,000 after purchasing an additional 3,054 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Trading Down 3.1 %

Shares of EMR stock opened at $108.56 on Friday. Emerson Electric Co. has a fifty-two week low of $96.62 and a fifty-two week high of $134.85. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.54. The stock has a 50 day simple moving average of $120.75 and a two-hundred day simple moving average of $119.61. The company has a market cap of $61.22 billion, a P/E ratio of 25.91, a PEG ratio of 2.49 and a beta of 1.36.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.10. Emerson Electric had a net margin of 13.74% and a return on equity of 12.08%. Research analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, February 14th. Emerson Electric’s payout ratio is 50.36%.

Analysts Set New Price Targets

Several equities analysts have weighed in on EMR shares. Citigroup started coverage on Emerson Electric in a report on Monday, March 17th. They issued a “buy” rating and a $132.00 price objective for the company. Wells Fargo & Company boosted their price target on Emerson Electric from $140.00 to $142.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Jefferies Financial Group initiated coverage on shares of Emerson Electric in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 target price on the stock. Morgan Stanley upped their price target on shares of Emerson Electric from $105.00 to $112.00 and gave the stock an “underweight” rating in a report on Thursday, February 6th. Finally, Daiwa Capital Markets initiated coverage on shares of Emerson Electric in a research report on Tuesday, January 28th. They set an “outperform” rating and a $147.00 price objective for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $135.94.

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.