Hoey Investments Inc. Sells 4,063 Shares of Emerson Electric Co. (NYSE:EMR)

Hoey Investments Inc. cut its position in Emerson Electric Co. (NYSE:EMR) by 27.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,858 shares of the industrial products company’s stock after selling 4,063 shares during the period. Emerson Electric makes up about 0.2% of Hoey Investments Inc.’s investment portfolio, making the stock its 22nd largest holding. Hoey Investments Inc.’s holdings in Emerson Electric were worth $1,346,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Emerson Electric in the 4th quarter worth approximately $885,886,000. Raymond James Financial Inc. purchased a new position in shares of Emerson Electric in the fourth quarter worth $297,947,000. Boston Partners lifted its holdings in shares of Emerson Electric by 136.3% during the fourth quarter. Boston Partners now owns 3,316,466 shares of the industrial products company’s stock valued at $411,944,000 after purchasing an additional 1,913,120 shares in the last quarter. State Street Corp increased its holdings in Emerson Electric by 6.2% in the 3rd quarter. State Street Corp now owns 25,810,167 shares of the industrial products company’s stock worth $2,822,858,000 after buying an additional 1,507,980 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Emerson Electric by 234.2% during the 4th quarter. Fisher Asset Management LLC now owns 2,035,934 shares of the industrial products company’s stock valued at $252,313,000 after acquiring an additional 1,426,718 shares during the period. Institutional investors own 74.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on EMR. Daiwa America raised shares of Emerson Electric to a “strong-buy” rating in a report on Tuesday, January 28th. Barclays decreased their target price on shares of Emerson Electric from $110.00 to $105.00 and set an “underweight” rating for the company in a research note on Wednesday, March 26th. Citigroup assumed coverage on Emerson Electric in a research note on Monday, March 17th. They issued a “buy” rating and a $132.00 price target on the stock. Jefferies Financial Group began coverage on Emerson Electric in a research report on Thursday, December 12th. They set a “buy” rating and a $160.00 price objective for the company. Finally, StockNews.com cut Emerson Electric from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $135.94.

Emerson Electric Trading Down 3.1 %

Shares of EMR stock opened at $108.56 on Monday. The stock has a fifty day simple moving average of $120.75 and a two-hundred day simple moving average of $119.75. Emerson Electric Co. has a 52-week low of $96.62 and a 52-week high of $134.85. The firm has a market capitalization of $61.22 billion, a PE ratio of 25.91, a PEG ratio of 2.49 and a beta of 1.36. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.54.

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

Emerson Electric Dividend Announcement

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

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.