Allstate Corp Sells 9,164 Shares of Emerson Electric Co. $EMR

Key Points

• Allstate Corp has reduced its stake in Emerson Electric Co. by 54.1%, selling 9,164 shares and retaining 7,768 shares valued at approximately $852,000.
• Emerson Electric's stock has experienced a price increase of 2.7% recently and currently has a market capitalization of $75.20 billion.
• The company announced a quarterly dividend of $0.5275 per share, with an annualized yield of 1.6% and a dividend payout ratio of 45.38%.

Allstate Corp lessened its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 54.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 7,768 shares of the industrial products company's stock after selling 9,164 shares during the period. Allstate Corp's holdings in Emerson Electric were worth $852,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Compound Planning Inc. lifted its position in shares of Emerson Electric by 1.6% in the first quarter. Compound Planning Inc. now owns 7,426 shares of the industrial products company's stock valued at $814,000 after acquiring an additional 119 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of Emerson Electric by 35.7% in the first quarter. 1832 Asset Management L.P. now owns 1,049,695 shares of the industrial products company's stock worth $115,089,000 after buying an additional 275,953 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Emerson Electric by 2.3% in the first quarter. Ameriprise Financial Inc. now owns 1,020,815 shares of the industrial products company's stock worth $111,910,000 after buying an additional 23,156 shares in the last quarter. Norinchukin Bank The lifted its position in shares of Emerson Electric by 12.1% in the first quarter. Norinchukin Bank The now owns 25,791 shares of the industrial products company's stock worth $2,828,000 after buying an additional 2,779 shares in the last quarter. Finally, CW Advisors LLC lifted its position in shares of Emerson Electric by 77.2% in the first quarter. CW Advisors LLC now owns 3,789 shares of the industrial products company's stock worth $420,000 after buying an additional 1,651 shares in the last quarter. Institutional investors own 74.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays raised Emerson Electric from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $125.00 to $127.00 in a research note on Thursday, August 7th. Stephens boosted their price objective on Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. upped their target price on Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Robert W. Baird cut their target price on Emerson Electric from $140.00 to $130.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Finally, KeyCorp increased their price objective on Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.39.

Emerson Electric Stock Up 2.7%

EMR stock opened at $133.6260 on Monday. The firm's fifty day simple moving average is $137.06 and its 200-day simple moving average is $121.85. The company has a market capitalization of $75.20 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 2.61 and a beta of 1.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $150.27.

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

Emerson Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 15th. Emerson Electric's dividend payout ratio (DPR) is 45.38%.

Emerson Electric Company 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.

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