Modern Wealth Management LLC increased its holdings in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 26.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,852 shares of the industrial products company’s stock after acquiring an additional 804 shares during the quarter. Modern Wealth Management LLC’s holdings in Emerson Electric were worth $422,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in EMR. Brighton Jones LLC increased its stake in shares of Emerson Electric by 74.1% during the 4th quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company’s stock worth $1,412,000 after purchasing an additional 4,850 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Emerson Electric during the 4th quarter worth approximately $584,000. Rafferty Asset Management LLC increased its stake in shares of Emerson Electric by 10.9% during the 4th quarter. Rafferty Asset Management LLC now owns 53,268 shares of the industrial products company’s stock worth $6,602,000 after purchasing an additional 5,248 shares during the last quarter. Tema Etfs LLC purchased a new stake in shares of Emerson Electric during the 4th quarter worth approximately $4,580,000. Finally, Strategic Wealth Partners Ltd. increased its stake in shares of Emerson Electric by 32.7% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 75,992 shares of the industrial products company’s stock worth $9,522,000 after purchasing an additional 18,725 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors.
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Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the stock. KeyCorp raised their price target on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Citigroup raised their price target on shares of Emerson Electric from $146.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. TD Cowen upgraded shares of Emerson Electric to a “strong-buy” rating in a research note on Tuesday, July 8th. Barclays upgraded shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $125.00 to $127.00 in a research note on Thursday, August 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Emerson Electric from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $142.39.
Get Our Latest Stock Analysis on Emerson Electric
Emerson Electric Stock Down 1.7%
Emerson Electric stock opened at $135.19 on Monday. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $150.27. The firm has a market capitalization of $76.08 billion, a price-to-earnings ratio of 29.07, a P/E/G ratio of 2.63 and a beta of 1.30. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. The firm has a 50 day simple moving average of $137.38 and a 200 day simple moving average of $122.86.
Emerson Electric (NYSE:EMR – Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.01. The firm had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.60 billion. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 EPS. On average, analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current year.
Emerson Electric Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, August 15th. Emerson Electric’s payout ratio is 45.38%.
Emerson Electric Company Profile
(Free Report)
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.
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