Independence Bank of Kentucky Acquires 356 Shares of Emerson Electric Co. (NYSE:EMR)

Independence Bank of Kentucky lifted its holdings in Emerson Electric Co. (NYSE:EMRFree Report) by 36.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,344 shares of the industrial products company’s stock after buying an additional 356 shares during the quarter. Independence Bank of Kentucky’s holdings in Emerson Electric were worth $131,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. DAVENPORT & Co LLC raised its holdings in shares of Emerson Electric by 23.8% in the fourth quarter. DAVENPORT & Co LLC now owns 85,756 shares of the industrial products company’s stock valued at $8,344,000 after buying an additional 16,511 shares during the last quarter. FAS Wealth Partners Inc. raised its holdings in Emerson Electric by 23.4% during the 4th quarter. FAS Wealth Partners Inc. now owns 4,049 shares of the industrial products company’s stock worth $394,000 after purchasing an additional 768 shares during the last quarter. Welch Group LLC raised its holdings in Emerson Electric by 1.7% during the 4th quarter. Welch Group LLC now owns 497,199 shares of the industrial products company’s stock worth $48,392,000 after purchasing an additional 8,412 shares during the last quarter. First Citizens Bank & Trust Co. raised its holdings in Emerson Electric by 17.3% during the 4th quarter. First Citizens Bank & Trust Co. now owns 13,345 shares of the industrial products company’s stock worth $1,299,000 after purchasing an additional 1,970 shares during the last quarter. Finally, Berkshire Bank raised its holdings in Emerson Electric by 8.9% during the 4th quarter. Berkshire Bank now owns 11,406 shares of the industrial products company’s stock worth $1,110,000 after purchasing an additional 932 shares during the last quarter. 74.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Emerson Electric news, Director Mark A. Blinn sold 2,413 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $103.18, for a total transaction of $248,973.34. Following the completion of the transaction, the director now owns 9,591 shares of the company’s stock, valued at approximately $989,599.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Emerson Electric Price Performance

Shares of EMR opened at $113.54 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.80 and a current ratio of 1.12. The stock has a 50 day simple moving average of $105.80 and a 200 day simple moving average of $97.41. Emerson Electric Co. has a 52-week low of $76.94 and a 52-week high of $114.19. The firm has a market capitalization of $64.81 billion, a PE ratio of 5.91, a P/E/G ratio of 1.97 and a beta of 1.37.

Emerson Electric (NYSE:EMRGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.18. Emerson Electric had a return on equity of 11.59% and a net margin of 69.33%. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the firm earned $0.78 EPS. Emerson Electric’s quarterly revenue was up 22.1% compared to the same quarter last year. Sell-side analysts predict that Emerson Electric Co. will post 5.4 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, February 15th. Emerson Electric’s dividend payout ratio (DPR) is currently 10.94%.

Wall Street Analysts Forecast Growth

EMR has been the subject of several recent research reports. Barclays boosted their price objective on Emerson Electric from $95.00 to $105.00 and gave the stock an “equal weight” rating in a report on Tuesday. Royal Bank of Canada boosted their price objective on Emerson Electric from $106.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. KeyCorp boosted their price objective on Emerson Electric from $120.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Mizuho boosted their target price on Emerson Electric from $118.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Finally, Bank of America boosted their target price on Emerson Electric from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $113.56.

Check Out Our Latest Report on EMR

Emerson Electric Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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