Alliancebernstein L.P. Has $270.67 Million Stake in Emerson Electric Co. $EMR

Key Points

• Alliancebernstein L.P. has significantly increased its holdings in Emerson Electric Co. by 218.7%, now owning 2,468,732 shares worth approximately $270.67 million.
• Emerson Electric recently declared a quarterly dividend of $0.5275 per share, resulting in an annualized dividend yield of 1.6%, reflecting a payout ratio of 45.38%.
• Analysts generally have a positive outlook on Emerson Electric, with an average rating of "Moderate Buy" and a consensus target price of $142.39.

Alliancebernstein L.P. boosted its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 218.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,468,732 shares of the industrial products company's stock after purchasing an additional 1,693,999 shares during the period. Alliancebernstein L.P. owned 0.44% of Emerson Electric worth $270,672,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new stake in shares of Emerson Electric during the 4th quarter worth about $25,000. Saudi Central Bank bought a new position in Emerson Electric during the first quarter valued at approximately $25,000. Vega Investment Solutions acquired a new stake in Emerson Electric in the fourth quarter valued at approximately $27,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in Emerson Electric in the first quarter worth approximately $27,000. Finally, Inlight Wealth Management LLC bought a new position in shares of Emerson Electric during the 1st quarter valued at $28,000. 74.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Emerson Electric from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Citigroup increased their price objective on Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a report on Monday, July 14th. TD Cowen raised Emerson Electric to a "strong-buy" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. upped their target price on Emerson Electric from $113.00 to $133.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Barclays raised shares of Emerson Electric from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $125.00 to $127.00 in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $142.39.

Emerson Electric Stock Performance

NYSE EMR traded down $0.82 during trading on Tuesday, hitting $131.91. The company's stock had a trading volume of 551,334 shares, compared to its average volume of 3,123,843. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $150.27. The firm has a market cap of $74.24 billion, a P/E ratio of 28.36, a price-to-earnings-growth ratio of 2.58 and a beta of 1.30. The firm has a 50 day moving average price of $137.57 and a 200 day moving average price of $122.45. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.01. The company had revenue of $4.55 billion during the quarter, compared to analysts' expectations of $4.60 billion. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.Emerson Electric's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 earnings per share. Equities research analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $0.5275 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.6%. Emerson Electric's dividend payout ratio is currently 45.38%.

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.