Resona Asset Management Co. Ltd. Invests $22.90 Million in Emerson Electric Co. (NYSE:EMR)

Resona Asset Management Co. Ltd. acquired a new position in shares of Emerson Electric Co. (NYSE:EMR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 184,232 shares of the industrial products company’s stock, valued at approximately $22,900,000.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Emerson Electric by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 53,536,974 shares of the industrial products company’s stock worth $6,634,837,000 after acquiring an additional 384,313 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Emerson Electric by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company’s stock valued at $1,443,725,000 after purchasing an additional 232,540 shares in the last quarter. Norges Bank bought a new position in shares of Emerson Electric in the 4th quarter valued at $885,886,000. Nordea Investment Management AB raised its holdings in shares of Emerson Electric by 5.7% during the 4th quarter. Nordea Investment Management AB now owns 7,013,550 shares of the industrial products company’s stock worth $871,083,000 after buying an additional 375,470 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Emerson Electric by 4.1% during the 4th quarter. Schroder Investment Management Group now owns 4,376,492 shares of the industrial products company’s stock worth $542,379,000 after buying an additional 171,946 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $138.00 target price on shares of Emerson Electric in a research note on Thursday, February 6th. Citigroup initiated coverage on shares of Emerson Electric in a research note on Monday, March 17th. They issued a “buy” rating and a $132.00 price objective for the company. Barclays decreased their target price on shares of Emerson Electric from $110.00 to $105.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 26th. JPMorgan Chase & Co. cut their price objective on Emerson Electric from $137.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Daiwa Capital Markets started coverage on Emerson Electric in a report on Tuesday, January 28th. They issued an “outperform” rating and a $147.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Emerson Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.94.

Emerson Electric Trading Down 7.3 %

NYSE:EMR opened at $94.47 on Friday. Emerson Electric Co. has a 52 week low of $92.23 and a 52 week high of $134.85. The firm’s fifty day moving average is $118.39 and its 200-day moving average is $119.74. The firm has a market cap of $53.27 billion, a P/E ratio of 22.55, a P/E/G ratio of 2.49 and a beta of 1.28. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.54.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.38 earnings per share 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%. Equities analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Friday, February 14th. Emerson Electric’s payout ratio is 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.