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Empower Advisory Group LLC lowered its stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 7.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,603 shares of the industrial products company’s stock after selling 432 shares during the period. Empower Advisory Group LLC’s holdings in Emerson Electric were worth $747,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC bought a new position in shares of Emerson Electric in the first quarter valued at approximately $737,318,000. Pacer Advisors Inc. grew its position in shares of Emerson Electric by 4,583.7% during the 1st quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company’s stock valued at $239,569,000 after purchasing an additional 2,138,397 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Emerson Electric by 218.7% in the first quarter. Alliancebernstein L.P. now owns 2,468,732 shares of the industrial products company’s stock worth $270,672,000 after purchasing an additional 1,693,999 shares during the period. Nordea Investment Management AB raised its position in shares of Emerson Electric by 19.5% in the second quarter. Nordea Investment Management AB now owns 9,195,005 shares of the industrial products company’s stock worth $1,223,947,000 after buying an additional 1,499,000 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Emerson Electric by 6.9% during the first quarter. Wellington Management Group LLP now owns 15,280,950 shares of the industrial products company’s stock worth $1,675,403,000 after buying an additional 980,652 shares in the last quarter. 74.30% of the stock is currently owned by institutional investors.
Emerson Electric Stock Performance
NYSE EMR opened at $127.48 on Monday. The firm has a market cap of $71.62 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 2.36 and a beta of 1.30. The company has a 50-day simple moving average of $132.16 and a two-hundred day simple moving average of $130.83. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. Emerson Electric Co. has a 12-month low of $90.06 and a 12-month high of $150.27.
Emerson Electric (NYSE:EMR – Get Free Report) last issued its earnings results on Thursday, April 6th. The industrial products company reported $0.79 earnings per share for the quarter. The company had revenue of $3.16 billion during the quarter. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%. On average, equities analysts forecast that Emerson Electric Co. will post 5.96 EPS for the current year.
Emerson Electric Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be issued a $0.555 dividend. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.22 dividend on an annualized basis and a yield of 1.7%. Emerson Electric’s payout ratio is 54.95%.
Emerson Electric announced that its board has authorized a share buyback program on Wednesday, November 5th that permits the company to buyback $0.00 in shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on EMR. Daiwa Capital Markets lifted their price target on Emerson Electric from $150.00 to $153.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Barclays lifted their target price on shares of Emerson Electric from $127.00 to $135.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Wolfe Research lowered their price objective on shares of Emerson Electric from $173.00 to $172.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $140.00 price target (down previously from $150.00) on shares of Emerson Electric in a research note on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $149.00.
Read Our Latest Stock Report on Emerson Electric
About Emerson Electric
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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