Legacy Financial Group LLC Purchases Shares of 3,641 Emerson Electric Co. (NYSE:EMR)

Legacy Financial Group LLC acquired a new stake in Emerson Electric Co. (NYSE:EMR) in the 1st quarter, Holdings Channel reports. The fund acquired 3,641 shares of the industrial products company’s stock, valued at approximately $413,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of EMR. Morgan Stanley grew its stake in shares of Emerson Electric by 7.9% during the 3rd quarter. Morgan Stanley now owns 13,750,393 shares of the industrial products company’s stock worth $1,327,876,000 after purchasing an additional 1,008,294 shares during the period. Wellington Management Group LLP grew its stake in shares of Emerson Electric by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock worth $1,307,680,000 after purchasing an additional 1,488,948 shares during the period. Wells Fargo & Company MN grew its stake in shares of Emerson Electric by 0.6% during the 4th quarter. Wells Fargo & Company MN now owns 10,654,285 shares of the industrial products company’s stock worth $1,036,982,000 after purchasing an additional 62,105 shares during the period. Norges Bank acquired a new stake in shares of Emerson Electric during the 4th quarter worth approximately $764,604,000. Finally, Nordea Investment Management AB grew its stake in shares of Emerson Electric by 26.5% during the 4th quarter. Nordea Investment Management AB now owns 7,447,248 shares of the industrial products company’s stock worth $723,873,000 after purchasing an additional 1,558,903 shares during the period. 74.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, May 17th. Berenberg Bank raised their price objective on Emerson Electric from $100.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Barclays raised their price objective on Emerson Electric from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Robert W. Baird decreased their price objective on Emerson Electric from $120.00 to $116.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Finally, Loop Capital raised their price objective on Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.76.

Emerson Electric Trading Up 0.2 %

EMR traded up $0.27 on Friday, hitting $108.41. The company had a trading volume of 2,983,369 shares, compared to its average volume of 2,687,592. The firm has a market cap of $62.02 billion, a P/E ratio of 5.80, a PEG ratio of 1.81 and a beta of 1.33. Emerson Electric Co. has a 1 year low of $83.10 and a 1 year high of $116.76. The company’s fifty day moving average price is $110.27 and its 200 day moving average price is $104.78. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.11. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.29 billion. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. Emerson Electric’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. As a group, equities analysts expect that Emerson Electric Co. will post 5.47 earnings per share for the current year.

Emerson Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.94%. The ex-dividend date was Thursday, May 16th. Emerson Electric’s dividend payout ratio is currently 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.