Truist Financial Corp Has $107.67 Million Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Truist Financial Corp grew its stake in Emerson Electric Co. (NYSE:EMR) by 9.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 977,435 shares of the industrial products company’s stock after acquiring an additional 85,083 shares during the period. Truist Financial Corp’s holdings in Emerson Electric were worth $107,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of EMR. Thrive Wealth Management LLC lifted its position in Emerson Electric by 4.1% during the second quarter. Thrive Wealth Management LLC now owns 2,319 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 91 shares during the last quarter. LCM Capital Management Inc boosted its stake in Emerson Electric by 1.4% in the 2nd quarter. LCM Capital Management Inc now owns 6,787 shares of the industrial products company’s stock valued at $748,000 after purchasing an additional 91 shares during the period. Sabal Trust CO increased its position in Emerson Electric by 2.2% during the 2nd quarter. Sabal Trust CO now owns 4,308 shares of the industrial products company’s stock worth $475,000 after buying an additional 93 shares during the period. Catalyst Financial Partners LLC lifted its holdings in shares of Emerson Electric by 3.7% during the second quarter. Catalyst Financial Partners LLC now owns 2,609 shares of the industrial products company’s stock worth $287,000 after buying an additional 94 shares in the last quarter. Finally, PFG Advisors grew its stake in shares of Emerson Electric by 3.8% in the first quarter. PFG Advisors now owns 2,591 shares of the industrial products company’s stock valued at $294,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

EMR has been the subject of a number of recent research reports. Oppenheimer boosted their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Robert W. Baird increased their price target on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company dropped their price objective on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Morgan Stanley began coverage on Emerson Electric in a report on Friday, September 6th. They set an “underweight” rating and a $105.00 target price on the stock. Finally, StockNews.com cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.59.

Emerson Electric Stock Down 0.1 %

Shares of NYSE:EMR opened at $109.25 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. Emerson Electric Co. has a 52-week low of $83.10 and a 52-week high of $119.53. The company has a market capitalization of $62.50 billion, a PE ratio of 5.85, a price-to-earnings-growth ratio of 1.74 and a beta of 1.30. The company has a fifty day moving average of $105.65 and a 200-day moving average of $109.31.

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

Emerson Electric Dividend Announcement

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