Thoroughbred Financial Services LLC Grows Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Thoroughbred Financial Services LLC boosted its holdings in Emerson Electric Co. (NYSE:EMR) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,566 shares of the industrial products company’s stock after purchasing an additional 172 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Emerson Electric were worth $1,433,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EMR. Vanguard Group Inc. raised its position in shares of Emerson Electric by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 53,536,974 shares of the industrial products company’s stock worth $6,634,837,000 after acquiring an additional 384,313 shares in the last quarter. State Street Corp raised its holdings in Emerson Electric by 6.2% during the third quarter. State Street Corp now owns 25,810,167 shares of the industrial products company’s stock worth $2,822,858,000 after purchasing an additional 1,507,980 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Emerson Electric by 4.2% during the 3rd quarter. Wellington Management Group LLP now owns 14,552,544 shares of the industrial products company’s stock worth $1,591,612,000 after buying an additional 581,102 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Emerson Electric by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company’s stock valued at $1,443,725,000 after buying an additional 232,540 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Emerson Electric in the 4th quarter valued at $885,886,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Citigroup initiated coverage on shares of Emerson Electric in a research note on Monday, March 17th. They issued a “buy” rating and a $132.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $138.00 price target on shares of Emerson Electric in a research report on Thursday, February 6th. Daiwa Capital Markets assumed coverage on Emerson Electric in a report on Tuesday, January 28th. They issued an “outperform” rating and a $147.00 price objective for the company. KeyCorp lifted their target price on shares of Emerson Electric from $140.00 to $158.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Emerson Electric from $137.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $135.94.

Emerson Electric Stock Down 7.3 %

Emerson Electric stock opened at $94.47 on Friday. The stock’s 50 day moving average price is $118.39 and its 200 day moving average price is $119.63. The company has a market cap of $53.27 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 2.49 and a beta of 1.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.54 and a quick ratio of 1.17. Emerson Electric Co. has a 1-year low of $92.23 and a 1-year high of $134.85.

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

Emerson Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Friday, February 14th. Emerson Electric’s dividend payout ratio is currently 50.36%.

Emerson Electric 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.