Magnus Financial Group LLC Has $252,000 Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Magnus Financial Group LLC reduced its position in shares of Emerson Electric Co. (NYSE:EMR) by 20.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,308 shares of the industrial products company’s stock after selling 581 shares during the quarter. Magnus Financial Group LLC’s holdings in Emerson Electric were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Newport Trust Company LLC acquired a new stake in Emerson Electric in the 2nd quarter valued at about $574,908,000. Legal & General Group Plc lifted its stake in Emerson Electric by 5.2% in the 2nd quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock valued at $496,877,000 after purchasing an additional 224,784 shares during the last quarter. Swedbank AB lifted its stake in Emerson Electric by 127.3% in the 3rd quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock valued at $278,285,000 after purchasing an additional 1,424,800 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Emerson Electric by 17.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,358,796 shares of the industrial products company’s stock valued at $259,809,000 after purchasing an additional 355,106 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Emerson Electric by 6.8% in the 1st quarter. Van ECK Associates Corp now owns 2,106,958 shares of the industrial products company’s stock valued at $238,971,000 after purchasing an additional 134,865 shares during the last quarter. Institutional investors own 74.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EMR. Royal Bank of Canada cut their price objective on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Robert W. Baird raised their price objective on shares of Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Redburn Atlantic began coverage on shares of Emerson Electric in a research report on Monday, July 8th. They set a “buy” rating and a $135.00 price objective for the company. JPMorgan Chase & Co. downgraded shares of Emerson Electric from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $132.00 to $115.00 in a research report on Wednesday, August 14th. Finally, Morgan Stanley began coverage on shares of Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Emerson Electric presently has an average rating of “Moderate Buy” and an average price target of $125.47.

Emerson Electric Stock Performance

Shares of NYSE:EMR opened at $110.59 on Thursday. The company’s 50 day simple moving average is $105.41 and its 200 day simple moving average is $109.22. The stock has a market capitalization of $63.27 billion, a price-to-earnings ratio of 5.92, a price-to-earnings-growth ratio of 1.70 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86. Emerson Electric Co. has a 1 year low of $83.10 and a 1 year high of $119.53.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data 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. The business had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. As a group, research analysts predict that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were paid 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 dividend yield of 1.90%. Emerson Electric’s payout ratio is presently 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.