Fruth Investment Management cut its holdings in Emerson Electric Co. (NYSE:EMR) by 3.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,530 shares of the industrial products company’s stock after selling 1,575 shares during the quarter. Emerson Electric makes up approximately 1.4% of Fruth Investment Management’s portfolio, making the stock its 17th largest holding. Fruth Investment Management’s holdings in Emerson Electric were worth $3,254,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Moody National Bank Trust Division purchased a new position in Emerson Electric during the fourth quarter worth approximately $27,000. Csenge Advisory Group purchased a new position in Emerson Electric during the third quarter worth approximately $28,000. Massey Quick Simon & CO. LLC purchased a new position in Emerson Electric during the fourth quarter worth approximately $30,000. Norway Savings Bank raised its stake in Emerson Electric by 60.1% during the fourth quarter. Norway Savings Bank now owns 533 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 200 shares during the period. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Emerson Electric in the fourth quarter worth $36,000. Institutional investors and hedge funds own 72.62% of the company’s stock.
NYSE EMR traded up $0.13 during trading on Friday, reaching $66.93. The company’s stock had a trading volume of 2,799,600 shares, compared to its average volume of 3,388,293. The company has a quick ratio of 0.62, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. Emerson Electric Co. has a 1-year low of $55.38 and a 1-year high of $79.70. The stock has a market capitalization of $43.70 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 2.24 and a beta of 1.23.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, May 16th. Emerson Electric’s payout ratio is 57.99%.
Several research firms have recently issued reports on EMR. Citigroup raised shares of Emerson Electric from a “sell” rating to a “neutral” rating and set a $66.00 price objective for the company in a research report on Monday, January 14th. Cowen reaffirmed a “buy” rating and set a $81.00 price target on shares of Emerson Electric in a report on Wednesday, January 30th. Zacks Investment Research upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Tuesday, April 2nd. Morgan Stanley set a $77.00 target price on shares of Emerson Electric and gave the stock a “buy” rating in a research report on Friday, February 8th. Finally, Credit Suisse Group lifted their target price on shares of Emerson Electric from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 6th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Emerson Electric currently has a consensus rating of “Buy” and an average price target of $76.41.
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About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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