NewEdge Advisors LLC Cuts Stock Position in Emerson Electric Co. (NYSE:EMR)

NewEdge Advisors LLC decreased its holdings in Emerson Electric Co. (NYSE:EMR) by 1.9% in the second quarter, HoldingsChannel.com reports. The fund owned 65,375 shares of the industrial products company’s stock after selling 1,276 shares during the quarter. NewEdge Advisors LLC’s holdings in Emerson Electric were worth $7,202,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Transcendent Capital Group LLC purchased a new position in Emerson Electric during the first quarter valued at $31,000. Meeder Asset Management Inc. increased its position in shares of Emerson Electric by 361.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 235 shares during the last quarter. Security National Bank bought a new position in Emerson Electric during the fourth quarter valued at $29,000. Tributary Capital Management LLC bought a new stake in shares of Emerson Electric in the 1st quarter worth about $35,000. Finally, Rise Advisors LLC bought a new position in Emerson Electric during the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Trading Up 0.1 %

Emerson Electric stock opened at $109.35 on Tuesday. The stock has a market cap of $62.56 billion, a PE ratio of 5.85, a price-to-earnings-growth ratio of 1.74 and a beta of 1.30. 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 stock has a 50-day moving average of $105.82 and a two-hundred day moving average of $109.32.

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, topping the consensus estimate of $1.42 by $0.01. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $1.29 earnings per share. On average, research analysts anticipate that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were given a $0.525 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.10 annualized dividend and a yield of 1.92%. Emerson Electric’s dividend payout ratio is presently 11.24%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wells Fargo & Company cut their target price on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Robert W. Baird increased their target price on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Oppenheimer upped their price target on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Morgan Stanley initiated coverage on shares of Emerson Electric in a report on Friday, September 6th. They set an “underweight” rating and a $105.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered shares of Emerson Electric from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $132.00 to $115.00 in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Emerson Electric presently has an average rating of “Moderate Buy” and an average price target of $124.59.

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.