Emerson Electric Co. $EMR Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in Emerson Electric Co. by 4.7%, now holding 137,160 shares valued at approximately $15 million.
• Several hedge funds have increased their positions in Emerson Electric, with Mirova seeing a 43.2% boost in its stake during the 1st quarter.
• Analysts project Emerson Electric's earnings per share to be $5.96 for the current year, with a consensus rating of "Moderate Buy" and a price target of around $142.39.

Corebridge Financial Inc. reduced its holdings in Emerson Electric Co. (NYSE:EMR - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,160 shares of the industrial products company's stock after selling 6,804 shares during the period. Corebridge Financial Inc.'s holdings in Emerson Electric were worth $15,038,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of EMR. Orion Capital Management LLC purchased a new position in shares of Emerson Electric in the fourth quarter worth about $25,000. Vega Investment Solutions purchased a new position in shares of Emerson Electric in the fourth quarter worth about $27,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Emerson Electric in the first quarter worth about $27,000. Inlight Wealth Management LLC purchased a new position in shares of Emerson Electric in the first quarter worth about $28,000. Finally, Fourth Dimension Wealth LLC raised its stake in Emerson Electric by 145.3% during the first quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company's stock worth $29,000 after purchasing an additional 154 shares during the period. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Trading Down 2.0%

Shares of Emerson Electric stock traded down $2.65 on Friday, reaching $131.91. The company had a trading volume of 2,345,603 shares, compared to its average volume of 3,749,064. The firm's 50 day moving average price is $137.54 and its two-hundred day moving average price is $122.15. The firm has a market cap of $74.24 billion, a PE ratio of 28.37, a PEG ratio of 2.63 and a beta of 1.32. Emerson Electric Co. has a 52-week low of $90.06 and a 52-week 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.

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 for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 EPS. Sell-side analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

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

Analysts Set New Price Targets

EMR has been the topic of a number of analyst reports. KeyCorp lifted their target price on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Citigroup lifted their target price on shares of Emerson Electric from $146.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Barclays raised shares of Emerson Electric from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $125.00 to $127.00 in a research note on Thursday, August 7th. Bank of America lifted their target price on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, Stephens lifted their target price on shares of Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $142.39.

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.