Maverick Capital Ltd. Invests $2.84 Million in Emerson Electric Co. (NYSE:EMR)

Maverick Capital Ltd. bought a new stake in Emerson Electric Co. (NYSE:EMR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 25,769 shares of the industrial products company’s stock, valued at approximately $2,839,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EMR. Newport Trust Company LLC acquired a new position in shares of Emerson Electric in the second quarter valued at about $574,908,000. First Trust Advisors LP boosted its holdings in Emerson Electric by 219.2% in the fourth quarter. First Trust Advisors LP now owns 2,601,619 shares of the industrial products company’s stock valued at $253,216,000 after purchasing an additional 1,786,583 shares during the last quarter. Wellington Management Group LLP grew its position in 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 worth $1,307,680,000 after purchasing an additional 1,488,948 shares during the period. Swedbank AB purchased a new position in shares of Emerson Electric during the 1st quarter valued at about $129,670,000. Finally, Clean Energy Transition LLP lifted its holdings in shares of Emerson Electric by 110.7% in the 1st quarter. Clean Energy Transition LLP now owns 1,885,183 shares of the industrial products company’s stock valued at $213,817,000 after buying an additional 990,615 shares during the period. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Oppenheimer raised their target price on Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank of Canada dropped their price objective on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company decreased their target price on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Barclays dropped their price target on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Robert W. Baird upped 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.59.

Emerson Electric Stock Up 4.3 %

NYSE EMR opened at $108.90 on Friday. Emerson Electric Co. has a one year low of $83.10 and a one year high of $119.53. 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 business has a fifty day moving average price of $106.27 and a 200 day moving average price of $109.35. The company has a market cap of $62.30 billion, a P/E ratio of 5.83, a P/E/G ratio of 1.74 and a beta of 1.30.

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

Emerson Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were issued a $0.525 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.10 annualized dividend and a dividend yield of 1.93%. Emerson Electric’s dividend payout ratio is presently 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.