Summit Financial LLC Has $2.37 Million Stake in Emerson Electric Co. (NYSE:EMR)

Summit Financial LLC boosted its stake in shares of Emerson Electric Co. (NYSE:EMR) by 136.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,094 shares of the industrial products company’s stock after purchasing an additional 11,007 shares during the period. Summit Financial LLC’s holdings in Emerson Electric were worth $2,366,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Emerson Electric by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 53,536,974 shares of the industrial products company’s stock valued at $6,634,837,000 after acquiring an additional 384,313 shares in the last quarter. State Street Corp grew 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 valued at $2,822,858,000 after purchasing an additional 1,507,980 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Emerson Electric by 4.2% in the third 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 raised its holdings in Emerson Electric by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 11,453,075 shares of the industrial products company’s stock worth $1,247,570,000 after acquiring an additional 162,985 shares during the period. Finally, Norges Bank acquired a new position in shares of Emerson Electric during the 4th quarter worth about $885,886,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Performance

Shares of NYSE:EMR opened at $109.74 on Tuesday. The company has a market capitalization of $61.88 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 2.49 and a beta of 1.36. The firm’s 50 day simple moving average is $120.46 and its 200 day simple moving average is $119.81. 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 fifty-two week low of $96.62 and a fifty-two week high of $134.85.

Emerson Electric (NYSE:EMR) last announced its quarterly 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 net margin of 13.74% and a return on equity of 12.08%. As a group, sell-side analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $0.5275 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.11 annualized dividend and a dividend yield of 1.92%. Emerson Electric’s dividend payout ratio is presently 50.36%.

Analyst Ratings Changes

Several research firms have issued reports on EMR. Jefferies Financial Group started coverage on shares of Emerson Electric in a research report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price target on the stock. Daiwa Capital Markets started coverage on Emerson Electric in a research report on Tuesday, January 28th. They issued an “outperform” rating and a $147.00 price target on the stock. KeyCorp raised their price objective on shares of Emerson Electric from $140.00 to $158.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Daiwa America upgraded Emerson Electric to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Morgan Stanley boosted their target price on shares of Emerson Electric from $105.00 to $112.00 and gave the stock an “underweight” rating in a research note on Thursday, February 6th. Two equities 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 assigned a strong buy rating to the company. According to MarketBeat, Emerson Electric has a consensus rating of “Moderate Buy” and an average target price of $135.94.

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.