Bruderman Asset Management LLC lessened its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 8.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 80,631 shares of the industrial products company’s stock after selling 7,325 shares during the period. Emerson Electric accounts for approximately 1.4% of Bruderman Asset Management LLC’s holdings, making the stock its 22nd biggest position. Bruderman Asset Management LLC’s holdings in Emerson Electric were worth $5,575,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the stock. Victory Capital Management Inc. grew its position in Emerson Electric by 21.6% in the 1st quarter. Victory Capital Management Inc. now owns 210,161 shares of the industrial products company’s stock worth $14,354,000 after purchasing an additional 37,396 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in Emerson Electric in the 1st quarter worth about $36,267,000. Rockefeller Capital Management L.P. bought a new position in Emerson Electric in the 1st quarter worth about $1,571,000. KAMES CAPITAL plc bought a new position in Emerson Electric in the 1st quarter worth about $2,269,000. Finally, BTC Capital Management Inc. bought a new position in Emerson Electric in the 1st quarter worth about $260,000. 70.38% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on the stock. UBS Group upped their target price on shares of Emerson Electric from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, August 30th. Morgan Stanley assumed coverage on shares of Emerson Electric in a research report on Monday, August 20th. They issued an “overweight” rating and a $85.00 target price for the company. Argus upped their target price on shares of Emerson Electric from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, August 14th. JPMorgan Chase & Co. upped their target price on shares of Emerson Electric from $79.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, August 10th. Finally, Barclays upped their target price on shares of Emerson Electric from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. Emerson Electric currently has an average rating of “Buy” and a consensus target price of $77.32.
Shares of NYSE:EMR opened at $77.54 on Friday. The company has a market capitalization of $48.46 billion, a PE ratio of 29.37, a P/E/G ratio of 2.26 and a beta of 1.17. Emerson Electric Co. has a twelve month low of $57.47 and a twelve month high of $78.00. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.37.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, August 7th. The industrial products company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.47 billion. Emerson Electric had a net margin of 12.33% and a return on equity of 22.83%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 EPS. equities analysts forecast that Emerson Electric Co. will post 3.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Friday, August 17th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Thursday, August 16th. Emerson Electric’s dividend payout ratio is currently 73.48%.
Emerson Electric Company Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.
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