Candriam S.C.A. Has $114.72 Million Stock Position in Emerson Electric Co. $EMR

Key Points

• Candriam S.C.A. reduced its stake in Emerson Electric Co. by 7.5%, selling 84,322 shares, and now holds 1,046,319 shares, which constitutes 0.7% of its portfolio.
• JPMorgan Chase & Co. and Bank of America both raised their price targets for Emerson Electric shares, with Bank of America setting it at $155.00 and maintaining a "buy" rating.
• The company announced a quarterly dividend of $0.5275 per share, with a dividend yield of 1.6%, set to be paid on September 10th.

Candriam S.C.A. trimmed its stake in Emerson Electric Co. (NYSE:EMR - Free Report) by 7.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,046,319 shares of the industrial products company's stock after selling 84,322 shares during the quarter. Emerson Electric accounts for 0.7% of Candriam S.C.A.'s portfolio, making the stock its 27th largest position. Candriam S.C.A. owned about 0.19% of Emerson Electric worth $114,719,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EMR. Orion Capital Management LLC bought a new stake in Emerson Electric in the fourth quarter worth approximately $25,000. Vega Investment Solutions bought a new stake in Emerson Electric in the fourth quarter worth $27,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in Emerson Electric during the first quarter worth $27,000. Inlight Wealth Management LLC bought a new position in Emerson Electric during the first quarter valued at about $28,000. Finally, Fourth Dimension Wealth LLC lifted its position in shares of Emerson Electric by 145.3% in the first quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company's stock worth $29,000 after buying an additional 154 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company's stock.

Analyst Upgrades and Downgrades

EMR has been the subject of several analyst reports. TD Cowen upgraded Emerson Electric to a "strong-buy" rating in a report on Tuesday, July 8th. KeyCorp lifted their price target on shares of Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Citigroup lifted their price target on shares of Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a research report on Monday, July 14th. 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. Finally, Bank of America lifted their price target on shares of Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $142.39.

Emerson Electric Stock Performance

Shares of EMR traded up $3.5360 during mid-day trading on Friday, hitting $133.6260. The company's stock had a trading volume of 3,643,223 shares, compared to its average volume of 3,837,648. Emerson Electric Co. has a one year low of $90.06 and a one year high of $150.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. The firm has a market capitalization of $75.20 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.54 and a beta of 1.32. The stock's 50-day moving average is $137.06 and its two-hundred day moving average is $121.91.

Emerson Electric (NYSE:EMR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.51 by $0.01. The firm 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 quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $1.43 earnings per share. As a group, sell-side analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $0.5275 dividend. 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%.

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.