Sowell Financial Services LLC trimmed its stake in Emerson Electric Co. (NYSE:EMR – Free Report) by 21.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,813 shares of the industrial products company’s stock after selling 2,347 shares during the quarter. Sowell Financial Services LLC’s holdings in Emerson Electric were worth $1,175,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Saudi Central Bank purchased a new position in Emerson Electric in the first quarter valued at about $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in Emerson Electric in the first quarter valued at about $27,000. Inlight Wealth Management LLC purchased a new position in Emerson Electric in the first quarter valued at about $28,000. Fourth Dimension Wealth LLC boosted its stake in Emerson Electric by 145.3% in the first quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 154 shares during the last quarter. Finally, Ameriflex Group Inc. purchased a new position in Emerson Electric in the fourth quarter valued at about $30,000. 74.30% of the stock is currently owned by hedge funds and other institutional investors.
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Analysts Set New Price Targets
A number of analysts recently commented on EMR shares. Citigroup upped their price target on shares of Emerson Electric from $146.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Stephens upped their price target on shares of Emerson Electric from $130.00 to $145.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Barclays upgraded shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $125.00 to $127.00 in a research note on Thursday, August 7th. TD Cowen upgraded shares of Emerson Electric to a “strong-buy” rating in a research note on Tuesday, July 8th. Finally, Bank of America upped their price target on shares of Emerson Electric from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Emerson Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.39.
Read Our Latest Report on Emerson Electric
Emerson Electric Stock Down 1.0%
NYSE:EMR opened at $131.56 on Wednesday. The firm has a market cap of $74.04 billion, a P/E ratio of 28.29, a P/E/G ratio of 2.52 and a beta of 1.30. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $150.27. The firm has a 50-day simple moving average of $136.33 and a two-hundred day simple moving average of $123.54.
Emerson Electric (NYSE:EMR – Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.01. The business 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%. Emerson Electric’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $1.43 EPS. Analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.
Emerson Electric Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a $0.5275 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.6%. Emerson Electric’s payout ratio is currently 45.38%.
Emerson Electric 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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