Emerson Electric Co. $EMR Position Cut by Comerica Bank

Key Points

• Comerica Bank reduced its stake in Emerson Electric Co. by 5.1%, selling 28,016 shares during the first quarter, leaving it with 521,644 shares valued at approximately $57.19 million.
• Emerson Electric reported $1.52 EPS for the last quarter, slightly above analysts' estimates, and achieved a revenue of $4.55 billion, reflecting 3.9% year-over-year growth.
• The company announced a quarterly dividend of $0.5275 per share, set to be paid on September 10th, representing an annualized yield of 1.6%.

Comerica Bank reduced its stake in Emerson Electric Co. (NYSE:EMR - Free Report) by 5.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 521,644 shares of the industrial products company's stock after selling 28,016 shares during the quarter. Comerica Bank owned about 0.09% of Emerson Electric worth $57,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Capital Management LLC purchased a new stake in shares of Emerson Electric in the 4th quarter worth about $25,000. Vega Investment Solutions bought a new position in shares of Emerson Electric during the 4th quarter valued at approximately $27,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Emerson Electric during the 1st quarter valued at approximately $27,000. Inlight Wealth Management LLC bought a new position in shares of Emerson Electric during the 1st quarter valued at approximately $28,000. Finally, Fourth Dimension Wealth LLC lifted its position in 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. 74.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Stephens lifted their target price on Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded Emerson Electric from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Barclays upgraded Emerson Electric from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $125.00 to $127.00 in a research report on Thursday, August 7th. Bank of America upped their price objective on Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Wells Fargo & Company upped their target price on Emerson Electric from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $142.39.

Emerson Electric Trading Down 1.8%

NYSE:EMR traded down $2.43 on Friday, hitting $132.13. 819,604 shares of the stock were exchanged, compared to its average volume of 3,144,913. The stock has a fifty day moving average of $137.47 and a 200-day moving average of $122.12. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $150.27. The stock has a market cap of $74.36 billion, a PE ratio of 28.40, a PEG ratio of 2.60 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.

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

Emerson Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend yield of 1.6%. Emerson Electric's dividend payout ratio is 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.