Sovereign Financial Group Inc. Makes New $204,000 Investment in Emerson Electric Co. (NYSE:EMR)

Sovereign Financial Group Inc. purchased a new position in Emerson Electric Co. (NYSE:EMR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,867 shares of the industrial products company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EMR. Newport Trust Company LLC purchased a new position in shares of Emerson Electric in the second quarter worth approximately $574,908,000. Wellington Management Group LLP grew its position 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 acquiring an additional 1,488,948 shares during the period. Swedbank AB purchased a new stake in shares of Emerson Electric in the 1st quarter worth $129,670,000. Clean Energy Transition LLP raised its holdings in 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 worth $213,817,000 after purchasing an additional 990,615 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Emerson Electric during the second quarter valued at about $61,304,000. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Performance

Shares of EMR stock opened at $110.88 on Thursday. The stock has a market cap of $63.43 billion, a PE ratio of 5.93, a P/E/G ratio of 1.74 and a beta of 1.30. 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 1 year low of $83.10 and a 1 year high of $119.53. The stock has a fifty day moving average price of $105.14 and a 200 day moving average price of $109.27.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings data 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. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.44 billion. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.29 earnings per share. Sell-side analysts forecast that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were issued 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 1.89%. Emerson Electric’s payout ratio is 11.24%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price objective 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 decreased their price target on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Robert W. Baird upped their price objective on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. StockNews.com downgraded Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Redburn Atlantic began coverage on shares of Emerson Electric in a report on Monday, July 8th. They issued a “buy” rating and a $135.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, 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.