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

ICICI Prudential Asset Management Co Ltd lessened its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 12.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,456 shares of the industrial products company’s stock after selling 8,800 shares during the quarter. 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 institutional investors and hedge funds also recently added to or reduced their stakes in EMR. Creative Planning raised its stake in Emerson Electric by 1.5% during the 3rd quarter. Creative Planning now owns 184,707 shares of the industrial products company’s stock valued at $20,201,000 after purchasing an additional 2,768 shares during the period. Swedbank AB raised its stake in Emerson Electric by 127.3% during the 3rd quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock valued at $278,285,000 after purchasing an additional 1,424,800 shares during the period. Howard Capital Management Group LLC grew its holdings in Emerson Electric by 10.6% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,878 shares of the industrial products company’s stock valued at $205,000 after buying an additional 180 shares in the last quarter. Blue Trust Inc. grew its holdings in Emerson Electric by 61.1% during the 3rd quarter. Blue Trust Inc. now owns 6,523 shares of the industrial products company’s stock valued at $719,000 after buying an additional 2,475 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC grew its holdings in Emerson Electric by 4.6% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 4,035 shares of the industrial products company’s stock valued at $441,000 after buying an additional 177 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Price Performance

Shares of EMR stock opened at $125.00 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.54. The stock has a 50 day moving average price of $125.51 and a 200 day moving average price of $117.30. The firm 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. Emerson Electric Co. has a 52-week low of $96.62 and a 52-week high of $134.85.

Emerson Electric (NYSE:EMR) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.38 earnings per share for the quarter, beating 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%. As a group, sell-side analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Announces Dividend

The company also recently announced 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. This represents a $2.11 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Friday, February 14th. Emerson Electric’s dividend payout ratio (DPR) is presently 50.36%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on EMR shares. Loop Capital raised their price target on Emerson Electric from $130.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. cut their price target on Emerson Electric from $137.00 to $135.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Wells Fargo & Company raised their price target on Emerson Electric from $140.00 to $142.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Robert W. Baird raised their price target on Emerson Electric from $117.00 to $118.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, BNP Paribas assumed coverage on Emerson Electric in a report on Wednesday, November 13th. They issued an “outperform” rating and a $155.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $136.90.

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.