Intellectus Partners LLC lessened its stake in shares of Emerson Electric Co. (NYSE:EMR) by 9.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,695 shares of the industrial products company’s stock after selling 1,054 shares during the quarter. Intellectus Partners LLC’s holdings in Emerson Electric were worth $1,029,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. abrdn plc boosted its position in shares of Emerson Electric by 17.5% in the second quarter. abrdn plc now owns 2,765,898 shares of the industrial products company’s stock valued at $266,190,000 after acquiring an additional 412,478 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of Emerson Electric by 75.9% in the second quarter. Verdence Capital Advisors LLC now owns 12,828 shares of the industrial products company’s stock valued at $1,235,000 after acquiring an additional 5,536 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of Emerson Electric by 6.9% in the first quarter. Avantax Advisory Services Inc. now owns 29,270 shares of the industrial products company’s stock valued at $2,638,000 after acquiring an additional 1,886 shares during the period. MML Investors Services LLC boosted its position in shares of Emerson Electric by 4.9% in the first quarter. MML Investors Services LLC now owns 58,711 shares of the industrial products company’s stock valued at $5,297,000 after acquiring an additional 2,724 shares during the period. Finally, Atria Investments LLC boosted its position in shares of Emerson Electric by 3.7% in the second quarter. Atria Investments LLC now owns 61,266 shares of the industrial products company’s stock valued at $5,896,000 after acquiring an additional 2,183 shares during the period. Institutional investors own 72.67% of the company’s stock.
Several research analysts recently commented on EMR shares. Wells Fargo & Company started coverage on Emerson Electric in a research report on Thursday, October 7th. They issued an “equal weight” rating and a $99.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their target price on Emerson Electric from $103.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, July 14th. Barclays lifted their price objective on Emerson Electric from $91.00 to $94.00 and gave the company an “equal weight” rating in a report on Thursday, July 8th. Cowen reissued a “buy” rating on shares of Emerson Electric in a report on Tuesday, August 31st. Finally, Zacks Investment Research raised Emerson Electric from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a report on Thursday, August 12th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $99.57.
EMR stock traded up $1.87 during midday trading on Thursday, reaching $93.74. The stock had a trading volume of 94,676 shares, compared to its average volume of 2,632,569. The firm has a market cap of $56.04 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.42 and a beta of 1.54. Emerson Electric Co. has a twelve month low of $63.65 and a twelve month high of $105.99. The business has a fifty day simple moving average of $99.80 and a two-hundred day simple moving average of $96.66. The company has a quick ratio of 1.00, a current ratio of 1.31 and a debt-to-equity ratio of 0.62.
Emerson Electric (NYSE:EMR) last posted its earnings results on Wednesday, August 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.11. Emerson Electric had a return on equity of 26.77% and a net margin of 13.20%. The company had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.58 billion. During the same period in the previous year, the company earned $0.80 EPS. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, equities analysts predict that Emerson Electric Co. will post 4.08 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Friday, August 13th were issued a dividend of $0.505 per share. This represents a $2.02 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Thursday, August 12th. Emerson Electric’s dividend payout ratio (DPR) is presently 58.38%.
About Emerson Electric
Emerson Electric Co is a global technology and engineering company, which provides innovative solutions for customers in industrial, commercial and residential markets. It operates through the following business segments: Automation Solutions; Climate Technologies; and Tools and Home Products. The Automation Solutions segment offers products, integrated solutions, software and services which enable process, hybrid and discrete manufacturers to maximize production, protect personnel and the environment, reduce project costs, and optimize their energy efficiency and operating costs.
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