Penobscot Investment Management Company Inc. Purchases 1,358 Shares of Emerson Electric Co. (NYSE:EMR)

Penobscot Investment Management Company Inc. increased its position in Emerson Electric Co. (NYSE:EMR) by 5.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 24,315 shares of the industrial products company’s stock after buying an additional 1,358 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Emerson Electric were worth $2,367,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. lifted its stake in Emerson Electric by 255.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,803,881 shares of the industrial products company’s stock worth $270,771,000 after purchasing an additional 2,015,232 shares in the last quarter. Nordea Investment Management AB lifted its stake in Emerson Electric by 26.5% in the 4th quarter. Nordea Investment Management AB now owns 7,447,248 shares of the industrial products company’s stock worth $723,873,000 after purchasing an additional 1,558,903 shares in the last quarter. Schroder Investment Management Group lifted its stake in Emerson Electric by 211.7% in the 3rd quarter. Schroder Investment Management Group now owns 2,003,099 shares of the industrial products company’s stock worth $193,439,000 after purchasing an additional 1,360,477 shares in the last quarter. Invesco Ltd. lifted its stake in Emerson Electric by 16.9% in the 3rd quarter. Invesco Ltd. now owns 8,199,836 shares of the industrial products company’s stock worth $791,858,000 after purchasing an additional 1,184,202 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Emerson Electric by 7.9% in the 3rd quarter. Morgan Stanley now owns 13,750,393 shares of the industrial products company’s stock worth $1,327,876,000 after purchasing an additional 1,008,294 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on EMR shares. Barclays upped their target price on shares of Emerson Electric from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Citigroup upped their target price on shares of Emerson Electric from $120.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Bank of America upped their target price on shares of Emerson Electric from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, March 4th. UBS Group increased their price objective on shares of Emerson Electric from $95.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Finally, KeyCorp increased their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.25.

Insider Buying and Selling at Emerson Electric

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

Emerson Electric Stock Down 1.9 %

Shares of NYSE EMR traded down $2.05 during midday trading on Tuesday, reaching $107.71. 988,061 shares of the company’s stock traded hands, compared to its average volume of 2,580,537. The company has a quick ratio of 0.80, a current ratio of 1.12 and a debt-to-equity ratio of 0.29. The stock’s 50 day simple moving average is $110.46 and its 200-day simple moving average is $99.42. Emerson Electric Co. has a one year low of $76.94 and a one year high of $115.26. The company has a market cap of $61.48 billion, a price-to-earnings ratio of 5.72, a P/E/G ratio of 1.90 and a beta of 1.37.

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

Emerson Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a $0.525 dividend. The ex-dividend date was Thursday, February 15th. This represents a $2.10 annualized dividend and a yield of 1.95%. Emerson Electric’s dividend payout ratio (DPR) is 10.94%.

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.