1ST Source Bank Has $793,000 Stock Position in Emerson Electric Co. (NYSE:EMR)

1ST Source Bank increased its stake in shares of Emerson Electric Co. (NYSE:EMR) by 15.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,198 shares of the industrial products company’s stock after purchasing an additional 948 shares during the period. 1ST Source Bank’s holdings in Emerson Electric were worth $793,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Emerson Electric during the 4th quarter worth $764,604,000. First Trust Advisors LP raised its position in shares of Emerson Electric by 219.2% during the fourth quarter. First Trust Advisors LP now owns 2,601,619 shares of the industrial products company’s stock worth $253,216,000 after purchasing an additional 1,786,583 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Emerson Electric by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock valued at $1,307,680,000 after purchasing an additional 1,488,948 shares in the last quarter. Swedbank AB acquired a new position in shares of Emerson Electric in the 1st quarter valued at approximately $129,670,000. Finally, Clean Energy Transition LLP increased its stake in Emerson Electric by 110.7% during the 1st quarter. Clean Energy Transition LLP now owns 1,885,183 shares of the industrial products company’s stock worth $213,817,000 after purchasing an additional 990,615 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on EMR shares. Robert W. Baird upped 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. Royal Bank of Canada reduced their target price on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Morgan Stanley assumed coverage on Emerson Electric in a report on Friday, September 6th. They issued an “underweight” rating and a $105.00 price target on the stock. Barclays decreased their price objective on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, Oppenheimer cut their target price on Emerson Electric from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Emerson Electric currently has an average rating of “Moderate Buy” and a consensus target price of $124.06.

Emerson Electric Stock Up 0.6 %

EMR opened at $102.03 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. The stock has a fifty day moving average of $107.81 and a 200-day moving average of $109.57. Emerson Electric Co. has a fifty-two week low of $83.10 and a fifty-two week high of $119.53. The company has a market capitalization of $58.43 billion, a P/E ratio of 5.46, a P/E/G ratio of 1.66 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.44 billion. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.29 earnings per share. On average, equities analysts expect that Emerson Electric Co. will post 5.48 EPS for the current 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 annualized dividend and a yield of 2.06%. Emerson Electric’s dividend payout ratio is 11.24%.

Emerson Electric 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.