Emerson Electric Co. (NYSE:EMR) Short Interest Up 5.6% in August

Emerson Electric Co. (NYSE:EMR) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 7,150,000 shares, an increase of 5.6% from the August 15th total of 6,770,000 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily volume of 2,630,000 shares, the short-interest ratio is currently 2.7 days.

Institutional Investors Weigh In On Emerson Electric

A number of institutional investors have recently bought and sold shares of the business. Heritage Wealth Management Inc. acquired a new stake in shares of Emerson Electric during the second quarter worth approximately $1,074,000. Sanctuary Advisors LLC acquired a new position in Emerson Electric in the second quarter worth approximately $22,146,000. Aurora Investment Counsel grew its position in Emerson Electric by 0.9% in the second quarter. Aurora Investment Counsel now owns 19,881 shares of the industrial products company’s stock worth $2,190,000 after acquiring an additional 176 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Emerson Electric by 17.6% during the 2nd quarter. Cetera Investment Advisers now owns 229,476 shares of the industrial products company’s stock worth $25,279,000 after purchasing an additional 34,381 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Emerson Electric by 9.5% in the 2nd quarter. Truist Financial Corp now owns 977,435 shares of the industrial products company’s stock valued at $107,674,000 after purchasing an additional 85,083 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EMR has been the subject of several analyst reports. Robert W. Baird boosted their price target on shares of Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Barclays decreased their target price on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Morgan Stanley began coverage on Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 price objective for the company. JPMorgan Chase & Co. cut Emerson Electric from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $132.00 to $115.00 in a research report on Wednesday, August 14th. Finally, Oppenheimer decreased their price target on Emerson Electric from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Emerson Electric currently has an average rating of “Moderate Buy” and an average target price of $124.29.

Emerson Electric Trading Up 1.8 %

Shares of NYSE EMR traded up $1.86 during mid-day trading on Thursday, hitting $105.54. 415,965 shares of the company traded hands, compared to its average volume of 2,686,822. The business has a 50 day moving average of $107.39 and a two-hundred day moving average of $109.50. The stock has a market capitalization of $60.38 billion, a price-to-earnings ratio of 5.55, a PEG ratio of 1.66 and a beta of 1.30. Emerson Electric has a 1 year low of $83.10 and a 1 year high of $119.53. 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 (NYSE:EMR) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Emerson Electric will post 5.48 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently declared 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. This represents a $2.10 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Friday, August 16th. Emerson Electric’s payout ratio is 11.24%.

Emerson Electric Company Profile

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.