Miracle Mile Advisors LLC cut its stake in Emerson Electric Co. (NYSE:EMR – Get Rating) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,455 shares of the industrial products company's stock after selling 185 shares during the period. Miracle Mile Advisors LLC's holdings in Emerson Electric were worth $752,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. American National Bank lifted its holdings in shares of Emerson Electric by 13.5% during the first quarter. American National Bank now owns 932 shares of the industrial products company's stock worth $91,000 after purchasing an additional 111 shares during the period. Eads & Heald Wealth Management raised its position in Emerson Electric by 0.4% in the first quarter. Eads & Heald Wealth Management now owns 27,995 shares of the industrial products company's stock worth $2,745,000 after acquiring an additional 120 shares in the last quarter. Synergy Asset Management LLC raised its position in Emerson Electric by 0.3% in the first quarter. Synergy Asset Management LLC now owns 39,021 shares of the industrial products company's stock worth $3,826,000 after acquiring an additional 122 shares in the last quarter. Choreo LLC raised its position in Emerson Electric by 3.4% in the first quarter. Choreo LLC now owns 3,706 shares of the industrial products company's stock worth $363,000 after acquiring an additional 123 shares in the last quarter. Finally, JGP Wealth Management LLC raised its position in Emerson Electric by 3.2% in the first quarter. JGP Wealth Management LLC now owns 4,003 shares of the industrial products company's stock worth $379,000 after acquiring an additional 124 shares in the last quarter. 72.75% of the stock is currently owned by institutional investors and hedge funds.
Get Emerson Electric alerts:Emerson Electric Stock Down 2.2 %
EMR opened at $73.84 on Friday. 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 firm has a market cap of $43.66 billion, a P/E ratio of 13.98, a PEG ratio of 1.75 and a beta of 1.42. Emerson Electric Co. has a 52 week low of $72.87 and a 52 week high of $100.47. The business's fifty day simple moving average is $84.65 and its 200 day simple moving average is $87.23.
Emerson Electric (NYSE:EMR – Get Rating) last posted its quarterly earnings data on Tuesday, August 9th. The industrial products company reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.09. Emerson Electric had a return on equity of 25.06% and a net margin of 16.45%. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter last year, the company earned $1.09 earnings per share. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Emerson Electric Co. will post 5.11 EPS for the current fiscal year.Emerson Electric Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 12th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, August 11th. Emerson Electric's payout ratio is 39.02%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. Mizuho increased their price objective on Emerson Electric from $85.00 to $86.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 10th. Barclays cut their price objective on Emerson Electric from $87.00 to $80.00 and set an "equal weight" rating for the company in a research report on Friday, July 8th. Wells Fargo & Company raised their price target on Emerson Electric from $87.00 to $89.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 12th. Deutsche Bank Aktiengesellschaft raised their price target on Emerson Electric from $97.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, August 10th. Finally, Argus raised their price target on Emerson Electric from $95.00 to $98.00 and gave the company a "buy" rating in a research report on Tuesday, August 16th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Emerson Electric has an average rating of "Moderate Buy" and an average target price of $98.77.
Emerson Electric Company Profile
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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.
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