Truist Financial Corp Sells 38,475 Shares of Emerson Electric Co. (NYSE:EMR)

Truist Financial Corp lowered its stake in shares of Emerson Electric Co. (NYSE:EMR) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 913,027 shares of the industrial products company’s stock after selling 38,475 shares during the quarter. Truist Financial Corp owned approximately 0.16% of Emerson Electric worth $88,865,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Morgan Stanley grew its holdings in Emerson Electric by 7.9% during the 3rd quarter. Morgan Stanley now owns 13,750,393 shares of the industrial products company’s stock worth $1,327,876,000 after acquiring an additional 1,008,294 shares during the last quarter. Invesco Ltd. lifted its position in Emerson Electric by 16.9% during the 3rd quarter. Invesco Ltd. now owns 8,199,836 shares of the industrial products company’s stock valued at $791,858,000 after purchasing an additional 1,184,202 shares during the period. Nordea Investment Management AB lifted its position in Emerson Electric by 26.5% during the 4th quarter. Nordea Investment Management AB now owns 7,447,248 shares of the industrial products company’s stock valued at $723,873,000 after purchasing an additional 1,558,903 shares during the period. Northern Trust Corp lifted its position in Emerson Electric by 2.4% during the 3rd quarter. Northern Trust Corp now owns 7,167,611 shares of the industrial products company’s stock valued at $692,176,000 after purchasing an additional 168,783 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Emerson Electric by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,865,155 shares of the industrial products company’s stock valued at $566,398,000 after purchasing an additional 165,249 shares during the period. Institutional investors own 74.30% of the company’s stock.

Insider Transactions at Emerson Electric

In related news, Director Mark A. Blinn sold 2,413 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 9,591 shares of the company’s stock, valued at $989,599.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EMR. KeyCorp upped their target price on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Royal Bank of Canada increased their price target on shares of Emerson Electric from $106.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Berenberg Bank increased their price target on shares of Emerson Electric from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Mizuho increased their price target on shares of Emerson Electric from $118.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Finally, Bank of America increased their price target 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. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Emerson Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.25.

Emerson Electric Stock Up 0.3 %

EMR stock traded up $0.29 during mid-day trading on Friday, hitting $109.89. 1,364,495 shares of the company were exchanged, compared to its average volume of 1,854,608. The firm has a market cap of $62.73 billion, a P/E ratio of 5.72, a P/E/G ratio of 1.90 and a beta of 1.37. Emerson Electric Co. has a 1-year low of $76.94 and a 1-year high of $115.26. The firm’s 50 day simple moving average is $110.38 and its 200 day simple moving average is $99.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.80 and a current ratio of 1.12.

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

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a dividend of $0.525 per share. The ex-dividend date was Thursday, February 15th. This represents a $2.10 annualized dividend and a dividend yield of 1.91%. Emerson Electric’s dividend payout ratio is currently 10.94%.

Emerson Electric Company 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.