Emerson Electric Co. (NYSE:EMR) Position Lessened by Ascent Group LLC

Ascent Group LLC decreased its stake in Emerson Electric Co. (NYSE:EMR) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,815 shares of the industrial products company’s stock after selling 573 shares during the period. Ascent Group LLC’s holdings in Emerson Electric were worth $1,191,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Transcendent Capital Group LLC bought a new stake in shares of Emerson Electric in the 1st quarter worth approximately $31,000. Meeder Asset Management Inc. increased its position in Emerson Electric by 361.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 235 shares during the period. Security National Bank acquired a new stake in Emerson Electric in the 4th quarter valued at approximately $29,000. Tributary Capital Management LLC acquired a new stake in Emerson Electric in the 1st quarter valued at approximately $35,000. Finally, Rise Advisors LLC acquired a new stake in Emerson Electric in the 1st quarter valued at approximately $36,000. Institutional investors own 74.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on EMR shares. Oppenheimer raised their target price on Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Robert W. Baird lifted their price target on Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company lowered their price target on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Redburn Atlantic began coverage on Emerson Electric in a research report on Monday, July 8th. They set a “buy” rating and a $135.00 price target on the stock. Finally, JPMorgan Chase & Co. cut Emerson Electric from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $132.00 to $115.00 in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Emerson Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.59.

Emerson Electric Stock Performance

Shares of Emerson Electric stock opened at $109.35 on Tuesday. The stock has a market cap of $62.56 billion, a PE ratio of 5.85, a price-to-earnings-growth ratio of 1.74 and a beta of 1.30. The business has a fifty day simple moving average of $105.82 and a 200-day simple moving average of $109.32. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. Emerson Electric Co. has a 12 month low of $83.10 and a 12 month high of $119.53.

Emerson Electric (NYSE:EMR) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. Emerson Electric’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 earnings per share. On average, sell-side analysts anticipate that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were given a dividend of $0.525 per share. The ex-dividend date was Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a yield of 1.92%. Emerson Electric’s payout ratio is 11.24%.

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.