ICICI Prudential Asset Management Co Ltd Sells 8,800 Shares of Emerson Electric Co. (NYSE:EMR)

ICICI Prudential Asset Management Co Ltd trimmed its stake in Emerson Electric Co. (NYSE:EMR) by 12.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,456 shares of the industrial products company’s stock after selling 8,800 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Emerson Electric were worth $7,740,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new position in Emerson Electric during the 3rd quarter worth $25,000. Stephens Consulting LLC purchased a new position in Emerson Electric during the 4th quarter worth $25,000. Sugar Maple Asset Management LLC purchased a new position in Emerson Electric during the 4th quarter worth $27,000. Darwin Wealth Management LLC purchased a new position in Emerson Electric during the 3rd quarter worth $29,000. Finally, YANKCOM Partnership purchased a new position in Emerson Electric during the 4th quarter worth $30,000. 74.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. StockNews.com upgraded Emerson Electric from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Loop Capital boosted their target price on Emerson Electric from $130.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Barclays boosted their price target on Emerson Electric from $116.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Robert W. Baird boosted their price target on Emerson Electric from $117.00 to $118.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Morgan Stanley boosted their price target on Emerson Electric from $105.00 to $112.00 and gave the company an “underweight” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Emerson Electric has an average rating of “Moderate Buy” and a consensus target price of $136.90.

Emerson Electric Stock Performance

Shares of EMR stock opened at $125.00 on Wednesday. The company has a market capitalization of $70.49 billion, a P/E ratio of 29.83, a P/E/G ratio of 2.46 and a beta of 1.34. The business’s 50 day moving average is $125.51 and its two-hundred day moving average is $117.30. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25. Emerson Electric Co. has a 12-month low of $96.62 and a 12-month high of $134.85.

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

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $0.5275 per share. The ex-dividend date is Friday, February 14th. This represents a $2.11 dividend on an annualized basis and a yield of 1.69%. Emerson Electric’s dividend payout ratio is currently 50.36%.

About Emerson Electric

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.