Fisher Asset Management LLC Grows Stake in Emerson Electric Co. (NYSE:EMR)

Posted by Defense World Staff on Apr 25th, 2023

Fisher Asset Management LLC boosted its position in Emerson Electric Co. (NYSE:EMR – Get Rating) by 2,247.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,088 shares of the industrial products company’s stock after purchasing an additional 153,267 shares during the period. Fisher Asset Management LLC’s holdings in Emerson Electric were worth $15,378,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Spartan Planning & Wealth Management acquired a new stake in Emerson Electric during the 4th quarter valued at $27,000. Arcus Capital Partners LLC acquired a new stake in Emerson Electric during the 4th quarter valued at $33,000. Certified Advisory Corp acquired a new stake in Emerson Electric during the 1st quarter valued at $34,000. Western Pacific Wealth Management LP acquired a new stake in Emerson Electric during the 3rd quarter valued at $26,000. Finally, Legacy Bridge LLC grew its holdings in Emerson Electric by 37.1% during the 4th quarter. Legacy Bridge LLC now owns 521 shares of the industrial products company’s stock valued at $50,000 after buying an additional 141 shares during the last quarter. 71.64% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Trading Down 0.0 %

NYSE:EMR opened at $85.59 on Tuesday. Emerson Electric Co. has a 12 month low of $72.40 and a 12 month high of $99.65. The firm has a market capitalization of $48.91 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 2.47 and a beta of 1.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.10 and a quick ratio of 0.86. The business’s 50-day moving average is $84.26 and its two-hundred day moving average is $88.71.

Emerson Electric (NYSE:EMR – Get Rating) last announced its earnings results on Wednesday, February 8th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.10). Emerson Electric had a return on equity of 19.79% and a net margin of 25.18%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. Research analysts predict that Emerson Electric Co. will post 4.07 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 17th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, February 16th. Emerson Electric’s dividend payout ratio is currently 26.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group upgraded Emerson Electric from a “neutral” rating to a “buy” rating and lowered their target price for the company from $100.00 to $97.00 in a report on Monday, March 6th. TheStreet cut Emerson Electric from a “b+” rating to a “c+” rating in a report on Wednesday, February 8th. Cowen decreased their price objective on Emerson Electric from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Tuesday, February 21st. Loop Capital decreased their price objective on Emerson Electric from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, April 11th. Finally, Wells Fargo & Company upgraded Emerson Electric from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $90.00 to $105.00 in a report on Thursday, April 20th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $100.31.

Emerson Electric Profile

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Emerson Electric Co is a global technology and engineering company, which designs and manufactures products and delivers services that bring technology and engineering together to provide innovative solutions for customers in a wide range of industrial, commercial, and consumer markets. It operates through the following segments: Automation Solutions, AspenTech, Commercial and Residential Solutions, Climate Technologies, and Tools and Home Products.