Biltmore Family Office LLC Increases Holdings in Emerson Electric Co. (NYSE:EMR)

Key Points

• Biltmore Family Office LLC increased its shareholding in Emerson Electric Co. by 18.5%, acquiring an additional 2,800 shares in the first quarter, bringing its total to 17,937 shares valued at approximately $1.97 million.
• Emerson Electric's recent earnings report revealed an EPS of $1.52, surpassing estimates by $0.01, with revenue showing a 3.9% year-over-year growth to $4.55 billion.
• The company announced a quarterly dividend of $0.5275, set to be paid on September 10th, equating to an annualized dividend yield of 1.6%.

Biltmore Family Office LLC grew its position in Emerson Electric Co. (NYSE:EMR - Free Report) by 18.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 17,937 shares of the industrial products company's stock after acquiring an additional 2,800 shares during the period. Biltmore Family Office LLC's holdings in Emerson Electric were worth $1,967,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of EMR. Fiduciary Family Office LLC acquired a new position in Emerson Electric during the 1st quarter worth approximately $800,000. True North Advisors LLC increased its stake in Emerson Electric by 4.3% in the 1st quarter. True North Advisors LLC now owns 2,449 shares of the industrial products company's stock valued at $269,000 after buying an additional 101 shares during the last quarter. Manhattan West Asset Management LLC purchased a new position in Emerson Electric in the first quarter worth $263,000. JPMorgan Chase & Co. increased its holdings in Emerson Electric by 9.3% during the first quarter. JPMorgan Chase & Co. now owns 7,166,817 shares of the industrial products company's stock worth $785,770,000 after buying an additional 611,105 shares during the last quarter. Finally, Frank Rimerman Advisors LLC increased its stake in shares of Emerson Electric by 46.1% during the 1st quarter. Frank Rimerman Advisors LLC now owns 4,630 shares of the industrial products company's stock worth $508,000 after purchasing an additional 1,460 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company's stock.

Emerson Electric Stock Performance

NYSE:EMR traded down $0.72 during trading hours on Thursday, reaching $134.28. The company had a trading volume of 1,289,464 shares, compared to its average volume of 3,169,708. The firm has a market cap of $75.57 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 2.59 and a beta of 1.32. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. The firm's 50 day moving average price is $136.13 and its 200-day moving average price is $121.77. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $150.27.

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

Emerson Electric Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays raised shares of Emerson Electric from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $125.00 to $127.00 in a research report on Thursday, August 7th. KeyCorp boosted their target price on Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. TD Cowen raised Emerson Electric to a "strong-buy" rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded Emerson Electric from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. raised their price objective on Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Emerson Electric currently has a consensus rating of "Moderate Buy" and an average price target of $142.39.

About Emerson Electric

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.