PFG Advisors increased its position in shares of Emerson Electric Co. (NYSE:EMR – Get Rating) by 34.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,198 shares of the industrial products company's stock after purchasing an additional 825 shares during the period. PFG Advisors' holdings in Emerson Electric were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the company. ACG Wealth acquired a new stake in Emerson Electric during the 2nd quarter worth approximately $48,000. Allworth Financial LP increased its stake in Emerson Electric by 63.0% during the 2nd quarter. Allworth Financial LP now owns 16,591 shares of the industrial products company's stock worth $1,320,000 after acquiring an additional 6,413 shares during the period. Sargent Bickham Lagudis LLC increased its stake in Emerson Electric by 1.7% during the 2nd quarter. Sargent Bickham Lagudis LLC now owns 8,686 shares of the industrial products company's stock worth $691,000 after acquiring an additional 146 shares during the period. ERN LLC bought a new position in Emerson Electric during the 2nd quarter worth $676,000. Finally, First National Bank of South Miami increased its stake in Emerson Electric by 6.7% during the 2nd quarter. First National Bank of South Miami now owns 10,222 shares of the industrial products company's stock worth $813,000 after acquiring an additional 643 shares during the period. 72.75% of the stock is owned by institutional investors and hedge funds.
Get Emerson Electric alerts:Wall Street Analyst Weigh In
EMR has been the topic of a number of recent research reports. Barclays lowered their price objective on Emerson Electric from $87.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Friday, July 8th. Argus raised their price objective on Emerson Electric from $95.00 to $98.00 and gave the stock a "buy" rating in a research note on Tuesday, August 16th. William Blair reiterated a "market perform" rating on shares of Emerson Electric in a research note on Tuesday, August 9th. JPMorgan Chase & Co. started coverage on Emerson Electric in a research note on Thursday, July 7th. They issued a "neutral" rating and a $80.00 price target on the stock. Finally, Credit Suisse Group decreased their price target on Emerson Electric from $107.00 to $106.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 10th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Emerson Electric presently has an average rating of "Moderate Buy" and a consensus price target of $98.77.
Emerson Electric Trading Down 2.2 %
Shares of EMR stock opened at $73.84 on Friday. The firm has a market capitalization of $43.66 billion, a P/E ratio of 13.98, a P/E/G ratio of 1.78 and a beta of 1.42. Emerson Electric Co. has a twelve month low of $72.87 and a twelve month high of $100.47. The company has a quick ratio of 0.80, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock's fifty day simple moving average is $84.65 and its 200 day simple moving average is $87.28.Emerson Electric (NYSE:EMR – Get Rating) last issued its quarterly earnings data on Tuesday, August 9th. The industrial products company reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.09. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $5.10 billion. Emerson Electric had a return on equity of 25.06% and a net margin of 16.45%. Emerson Electric's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. As a group, sell-side analysts predict that Emerson Electric Co. will post 5.11 EPS for the current fiscal year.
Emerson Electric Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 12th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, August 11th. Emerson Electric's payout ratio is presently 39.02%.
About Emerson Electric
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Emerson Electric Co, a technology and engineering company, provides various solutions for customers in industrial, commercial, and residential markets in the Americas, Asia, the Middle East, Africa, and Europe. The company operates through Automation Solutions, and Commercial & Residential Solutions segments.
Further Reading
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